Self driving Car maker company Zoox raises $200 million

Posted on by Bunty

The Zoox team is trying it’s best not to reveal about the technology used in production of self driving cars. To gain market edge and to stay ahead of the competitors the team is working tight lipped. However, it has been confirmed the company is looking forward for major funding and is raising a whopping $ 200 million for a dollar 1 billion valuation. The investors taking part in the round are Lux Capital and DFJ.

We have heard about cruise automation and automatic cars by Google, Zoox is creating a technology to compete with the giants. In an auto show at LA in 2013, the company highlighted concept of unique car without windshield and well known as “Boz” design. This early displays are really promising and a pathway for the next generation technology cars. The concept of self-driving cars a real buzz and is already creating waves in the market.

The company is based at Palo Alto, the place is well known for it’s entrepreneurial ventures and in establishing world famous companies. It was founded by Tim Kentley Clay and Jesse Levinson with a vision to take technological advancement to next level and help in creation of autonomous cars. The firm has received clearance from the regulators to test drive on the roads of California.

The driver less cars will be a breakthrough in technology and will revolutionize the way the world travels. The transportation department will be the major beneficiary of self-driving cars. The automobile industry will see a boom by running this next generation cars on road.

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