Aurora Raises $820M to Fund Autonomous Trucking Launch
Aurora Innovation completes a capital raise of $820 million, supporting its autonomous trucking venture launch.
Self-driving technology company Aurora Innovation raised $820 million through a public and concurrent private offering. The funds will support Aurora until its targeted commercial launch in 2024 and well into 2025. The company's plans to commercialize self-driving trucks have sparked pilot partnerships with FedEx, Paccar, Schneider, Werner, and Xpress. The launch will involve operating around 20 autonomous trucks between Dallas and Houston, hauling freight for customers without a driver. The funds will be allocated for working capital and other corporate purposes, potentially including acquisitions or investments in additional businesses, technologies, products, or assets.