Toyota, Denso, and Softbank Invest $1 billion in Uber Self Driving Group
Recently, the demand for Artificial intelligence is to increase. In all the field, AI plays an vital role to make people life more comfortable.
Nowadays, the demand for on-demand services is increasing. For many companies are using AI technology to make more many.
Uber is one of those company which recently started its self-driving services in some countries.
What is Uber App?
Uber is offering best ridesharing and taxi booking services in worldwide. It also provides food delivery, Uber auto, and Uber for X services.
From the uber application, user can easily book a ride for anywhere and any time.
Some so many entrepreneurs develop uber like application, but no one can beat it.
Now, Uber has started its self- driving car services. From the past few years, uber was research on self-driving car services.
In December 2018, Uber started testing of its self-driving cars, only during daylight hours and at slower speeds.
In March 2019, Pittsburgh Mayor William Peduto signed an executive order for self-driving material for testing methods.
From the government report, five companies — Aptiv, Argo AI, Aurora, Carnegie Mellon University, and Uber — are testing 55 self-driving cars, with the highest concentration in the city’s Strip District and Lower Lawrenceville.
According to CrunchBase report, in the last month, uber autonomous vehicle unit has raised $1 billion from a consortium of Japanese investors including Softbank’s Vision Fund, Toyota, and auto-parts maker Denso.
It has just released its IPO filing and preparing to launch its “roadshow.” When it will pitch its prospective company investors, setting up for an early May debut on the New York Stock Exchange.
Uber is expected to raise $10 billion at a $90 billion to $100 billion valuations, at least an 18 percent jump from its current $76 billion estimates.
The Wall Street Journal estimates that Uber spent about $750 million on building out self-driving technologies before scaling back in 2018.