Greylock Partners and Index Ventures have co-led a Series A funding round for self-driving technology developer Aurora Innovation, bringing the combined capital invested in the company to $90 million. Greylock partner Reid Hoffman and Index Ventures partner Mike Volpi will join Aurora’s board.
Aurora works alongside carmakers to develop and supply the self-driving technology required for autonomous vehicles. In its first year, the company has established partnerships with Volkswagen Group, Hyundai Motors and China-based smart electric vehicle maker Byton.
“Autonomous vehicles will over the coming decades reshape transportation and have a far reaching impact on our cities and our way of living in way we haven’t seen since Ford’s Model T ‘democratized’ driving last century,” said Volpi.
“Aurora is best positioned to lead this transformation, because of the caliber of the team, its unique technology and its deep partnerships with existing car manufacturers.”
“The Aurora team is easily one of the most experienced, pioneering, and technically renowned in autonomous vehicles,” said Hoffman.
“They are taking their collective experience, with a focus on rigorous engineering and applied machine learning breakthroughs, to build a completely new approach to autonomous vehicle technology that can have a huge impact on the world, while doing so quickly and safely.
“This is the team who will bring this autonomous vehicles to the mass market, and I am thrilled to be a part of the ride.”