Saturday, July 30, 2016

SELF DRIVING CAR Startup Company ZOOX Gets $200 Million Funding

It is less “Back to the Future” and more Stallone’s “Demolition Man”, and it’s not even complete yet. But super hush-hush startup company Zoox, which has been working non-stop to develop an honest to goodness fully autonomous car in utter secrecy for so long, has just completed a funding round going all the way to around $200 million.

An anonymous source that is intimate with the Silicon Valley-based startup’s plans to gather financial backing for its top secret project tells The Business Insider that Zoox has managed to raise an equity amounting to more than $100 million before the round of funding came to a close, according to their SEC filing dated June 6. This was after a classified amount of capital funding back in May gave the startup an astonishing over $1 billion in value, according to an article on The Wall Street Journal. This effectively puts Zoox’s at a level equal to that of another startup company snapped up by General Motors in that same month.

Zoox has been carrying out their confidential research, development and assembly of a working self-driving automobile for several years now. From their California headquarters in Palo Alto, all Zoox personnel have been remarkably taciturn on their progress. The first and only time the startup made some noise regarding their product was way back in 2013, when they plastered the internet with snazzy concept CGI of their dream autonomous electrically powered car, before going off the grid once more.

The Institute of Electrical and Electronics Engineers state that Boz would have no steering wheel nor brake pedal, and can feasibly drive in any direction while the passengers are seated facing one another. Its featured tech is said to be nearly similar to the Google self-driving car being worked on by Alphabet Inc., given that one of Zoox’s founders, Stanford engineer Jesse Levinson, had previously worked with the co-creator of the Google car, but is now teaming up with Australian designer Tim Kentley-Klay to make Boz a reality.

For the curious, back in March of this year, Zoox secured the necessary permits to test drive their Boz prototype in California. But when this will actually take off has yet to be revealed.

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