Apple reportedly acquires self-driving automobile startup Drive.ai (AAPL)

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Drive.ai self-driving car

  • Apple has reportedly acquired self-driving automobile startup Drive.ai.
  • This information comes after the San Francisco Chronicle reported Drive.ai deliberate to close down and lay off 90 staff. 
  • Drive.ai had raised some $77 million from buyers together with New Enterprise Associates and Nvidia GPU Ventures. 
  • Go to Enterprise Insider’s homepage for extra tales.

Apple has acquired self-driving automobile startup Drive.ai, in response to a brand new report by Axios. 

Whereas a purchase order worth wasn’t disclosed, the corporate was at one time valued at $200 million. Axios additional stories that “dozens” of Drive.ai engineers have joined Apple following the acquisition, whereas the corporate itself not too long ago ceased operations. 

The information comes after the Info reported earlier in June that Apple was concerned about buying Drive.ai — with a specific eye in direction of bringing on its engineering expertise.

Earlier on Tuesday, the San Francisco Chronicle had reported that Drive.ai deliberate to close down and lay off 90 staff by the tip of June, citing a submitting with California state authorities. Nevertheless, it seems that the submitting could have been untimely, given information of the Apple acquisition. 

Drive.ai’s product was distinctive — reasonably than create self-driving automobiles from scratch, the corporate made “kits” to show common automobiles into autonomous automobiles. 

The corporate had raised $77 million in 5 funding rounds, in response to Crunchbase, with buyers together with New Enterprise Associates and Nvidia GPU Ventures.

A spokesperson for Apple didn’t instantly reply to a request for remark. 

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