Fields that are pre-populated in this Aurora Innovation, the four-year-old startup founded by former Google self-driving engineer Chris Urmson, announced this afternoon it will acquire Advanced Technologies Group, the unit inside Uber that has been developing self-driving capabilities.
Aurora, which emerged from stealth in early 2018, has struck various partnerships with large automakers over the yeas, including Hyundai. Urmson was the chief technology officer for Google’s self-driving unit for seven years before leaving in 2016 to found Aurora. The startup has received almost $700 million in venture capital money in five rounds over the years, from investors including Amazon and venture capital firms Greylock Management and Sequoia Capital.
Although terms of the deal were not disclosed, Aurora said in a blog post that it is entering a partnership with Uber in order to “connect our technology to the world’s leading ride-hailing platform” and to “strengthen our position to deliver the Aurora Driver broadly,” referring to the company’s self-driving technology.
Uber will make a $400 million equity investment in Aurora, the company said, and Uber’s chief executive, Dara Khosrowshahi, will join Aurora’s board.
Uber said in a filing with the Securities & Exchange Commission that it will own a 40% stake in Aurora once the deal is completed.
Urmson, in prepared remarks, said the acquisition will make the company the “best-positioned” to deliver self-driving vehicles:
By adding the people and technology of Uber’s Advanced Technologies Group to the incredible group we’ve already assembled at Aurora, we’re shifting the landscape of the automated vehicle space. With the addition of ATG, Aurora will have an incredibly strong team and technology, a clear path to several markets, and the resources to deliver. Simply put, Aurora will be the company best positioned to deliver the self-driving products necessary to make transportation and logistics safer, more accessible, and less expensive.
