Tag Archives: Driverless cars

Didi Chuxing raises $5.5 billion

Commentary

After riding high on its acquisition of Uber’s Chinese business last year, China’s ride-hailing giant Didi Chuxing has recently raised a whopping $5.5 billion from Silver Lake Partners, China Merchants Bank, Bank of Communications and SoftBank at a rumoured valuation of over $50 billion. According to sources, the cash infusion will be used for global expansion and to further the company’s pursuit of autonomous driving technology. Driverless cars present a great opportunity for ride-hailing companies by its potential to reduce costs. By taking drivers out of the equation and making cars run 24/7, ride-hailing companies can raise their profits ten-fold as well as stay relevant in an ever-changing environment.

Luminar raises $36 million seed funding

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In a few years, our roads will be full of driverless cars. If forecasts do come true, companies like NVIDIA, Audi, Nu Tonomy, Ford, Volkswagen, GM, Tesla, BMW, and others, will all be rolling out driverless vehicles in as early as 2020. But big questions remain. Will consumers want to relinquish control of their vehicles? Can driverless cars be truly safe in an unpredictable world? Luminar, a startup specializing in LiDAR technology, is about to unveil sensors that could make driverless cars safer than human drivers. LiDAR technology allows cars to “see” where they’re going, make sense of their surroundings, and react accordingly. Luminar claims that its LiDARs allow cars to “see” obstacles better and at greater distances than any other system in the market. Last week, the company has raised $36 million in seed-stage funding from Canvas Ventures, GVA Capital and 1517 Fund.