The relatively unknown self-driving startup Zoox in hunt for financing image

The Silicon Valley Zoox company wants to raise around 252 million dollars in funding to finance its still secretive autonomous project.

Silicon Valley is packed with tech companies that are seeking to amaze the automotive world by their projects and Zoox appears to be one of them, even if this newcomer is currently not willing to fully reveal its intentions. It applied and received in March for a permit to test its autonomous technologies on public roads in California, the only startup with such a license in the state. It is reportedly said that Zoox intended to build driverless cars for a ride-hailing service by 2020 or to even launch itself such a programme. Zoox was founded by the Australian designer Tim Kentley-Klay and Jesse Levinson, an engineer who worked at Stanford University with Sebastian Thrun, the first director of Google’s self-driving car mission.

Now, Bloomberg reports that the firm is planning to raise some money to hit its goals, as much as 252 million dollars in funding. According to The Wall Street Journal, which first announced the move, Zoox has a really solid team behind it, with around 140 employees, including staff members recruited from Google’s Alphabet, Apple and Tesla. More and more companies are starting to explore the ride-sharing business in conjunction with the self-driving trend. Uber, for example, has started autonomous tests in Pittsburgh, alongside its partners from the Carnegie Mellon University.

Via Bloomberg