Aurora, a leading autonomous technology developer, announced a significant milestone as it secured $820 million in a fresh round of public and private funding. This infusion of capital paves the way for the company to commercially launch its revolutionary self-driving products next year. In a recent blog post, Aurora CEO Chris Urmson shared insights into the company’s vision and how it intends to utilize the funds to bring their cutting-edge technology to the market.
Aurora’s journey has been closely followed by the industry, and it has garnered the support and investments of prominent automakers like Toyota, Peterbilt, and Uber Freight. The company’s acquisition of LiDAR firm Blackmore in 2019 was a pivotal moment, allowing them to develop a state-of-the-art sensing suite for the safe operation of large trucks at high speeds.
Since 2020, Aurora has been deploying Class 8 trucks integrated with its proprietary Aurora Driver technology, showcasing its capabilities even in adverse weather conditions. The successful integration of Aurora Driver into Volvo’s trucks further solidified their position in the autonomous vehicle market.
We’re excited to announce we’ve successfully raised $820 million in an equity funding round. These additional funds will help our continued work to shape the future of accessible, safe, and efficient transportation.
Learn more about this incredible time at Aurora, and how we’re… pic.twitter.com/hzypEKv5aw
— Aurora (@aurora_inno) July 21, 2023
Looking ahead, Aurora plans to launch its self-driving truck service, known as “Aurora Horizon,” in 2024. With the recent funding round, the company is now well-equipped to achieve this goal and continue pushing the boundaries of autonomous driving technology.
Chris Urmson expressed gratitude towards the investors and partners who have shown unwavering support throughout Aurora’s journey. He highlighted the company’s unique qualities, including a steadfast commitment to its mission, a team of exceptional talent, and strategic business decisions, which have contributed to their remarkable growth.
The roadmap shared by Aurora outlines the milestones they plan to accomplish on their path to delivering safe autonomous technology efficiently. So far, the company has met each target, instilling confidence among investors about their capabilities.
With the “Feature Complete” milestone achieved in Q1 2023 and the upcoming “Aurora Driver Ready” milestone expected by the end of this year, the company is on track for a commercial launch in 2024. The transparency and execution displayed by Aurora have further bolstered the confidence of both internal stakeholders and investors.
Aurora’s progress and vision make it a compelling company to watch closely as it continues to navigate the exciting and ever-evolving world of autonomous driving. As they continue to tick off milestones on their roadmap, the industry eagerly anticipates the launch of their game-changing self-driving truck service.
