Total amount raised
$4.2 Billions
Latest funding date
8/1/2024
Location
Aurora has successfully raised significant funding, achieving a valuation of $14 billion at its IPO. The company is focused on developing the Aurora Driver, an autonomous driving system designed to enhance safety and efficiency for carriers and fleet owners.
Keep reading to explore the intricacies of Aurora's fundraising journey and the investors backing this innovative platform.
What Is Aurora?
Aurora, founded in 2017, is a self-driving vehicle company headquartered in Pittsburgh, Pennsylvania. The company also has offices in the Bay Area, Dallas, Bozeman, Seattle, Louisville, and Wixom.
Founded by Chris Urmson, J. Andrew Bagnell, and Sterling Anderson, Aurora focuses on developing the Aurora Driver, an autonomous driving system designed to operate various vehicle types, including passenger vehicles and heavy-duty trucks.
With a workforce of 1001-5000 employees, Aurora collaborates with industry leaders like Toyota, Uber, Volvo, and Paccar to integrate and pilot their self-driving technology in real-world scenarios.
How Much Funding Has Aurora Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to kickstart the development of Aurora's autonomous driving technology.
- Series A
- Amount Raised: $90M
- Date: February 2018
- Lead Investors: Greylock, Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate the development of the Aurora Driver.
- Series B
- Amount Raised: $600M
- Date: June 2019
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance partnerships with automotive industry leaders.
- Corporate Round
- Amount Raised: $400M
- Date: December 2020
- Lead Investors: Uber
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate Uber's self-driving unit and bolster Aurora's technological capabilities.
- Post-IPO Equity
- Amount Raised: $1.8B
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: $14B
- Motivation Behind the Round: To support the company's public market debut and fund further technological advancements.
- Post-IPO Equity
- Amount Raised: $820M
- Date: July 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance the Aurora Driver's capabilities.
- Post-IPO Equity
- Amount Raised: $483M
- Date: August 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop autonomous driving technology and address engineering challenges.
Total Amount Raised: $4.173B. Current Valuation: $14B.
Key Investors
- Amazon
- Details: Amazon is a multinational technology company based in Seattle, Washington. It is known for its e-commerce platform, cloud computing services, and digital streaming.
- Investment Focus Areas: E-commerce, cloud computing, artificial intelligence
- Notable Investments: Rivian, Deliveroo, Zoox
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm headquartered in Menlo Park, California. It invests in early and growth-stage companies across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Apple, Google, PayPal
- Greylock Partners
- Details: Greylock Partners is a venture capital firm based in Silicon Valley. It focuses on early-stage investments in technology companies.
- Investment Focus Areas: Enterprise software, consumer internet, healthcare
- Notable Investments: Facebook, LinkedIn, Airbnb
- Index Ventures
- Details: Index Ventures is a global venture capital firm with offices in London, San Francisco, and Geneva. It invests in technology and life sciences companies.
- Investment Focus Areas: Technology, life sciences, consumer products
- Notable Investments: Dropbox, Slack, Robinhood
- Uber
- Details: Uber Technologies, Inc. is a ride-hailing company based in San Francisco, California. It offers services that include ride-hailing, food delivery, and freight transportation.
- Investment Focus Areas: Transportation, logistics, food delivery
- Notable Investments: Lime, Didi Chuxing, Zomato
What's Next for Aurora?
With $483 million in new funding, Aurora is poised to revolutionize the transportation sector. This substantial investment will enable the company to enhance its autonomous driving technology and expand its engineering and machine learning capabilities. The autonomous driving industry is rapidly evolving, and Aurora is well-positioned to lead this transformation.
Future fundraising opportunities seem promising as Aurora continues to demonstrate technological advancements and market growth. However, the company will need to navigate regulatory hurdles and address safety concerns to maintain its momentum. As Aurora scales its operations, these challenges will be critical to its long-term success.
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