Uber raised $1 billion for self-driving cars to reduce drivers cost

Uber has raised a fresh $1 billion for its driverless cars business from three Japanese investors: Softbank’s Vision Fund, Toyota, and auto-parts maker Denso. The financing establishes Uber’s self-driving cars unit as its own corporate entity, valued at $7.25 billion, the company said in a press release on April 18.

Uber completed this financing for its driverless cars business within a week of filing paperwork for a widely anticipated initial public offering. The IPO is another mechanism through which Uber hopes to raise money.

Uber has raised a fresh $1 billion for its driverless cars business from three Japanese investors: Softbank’s Vision Fund, Toyota, and auto-parts maker Denso. The financing establishes Uber’s self-driving cars unit as its own corporate entity, valued at $7.25 billion, the company said in a press release on April 18.

 Uber completed this financing for its driverless cars business within a week of filing paperwork for a widely anticipated initial public offering. The IPO is another mechanism through which Uber hopes to raise money.

 

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