NEWS COMMENTARY

Pony.ai, Nuro, and Inceptio raise close to $1 billion combined in big week for autonomous vehicle funding

Published:
November 09, 2020
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CPG More...
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“Better-for-You” Transformation More...
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Investment
by Josh Kern
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This year is proving to be another big funding year for autonomous vehicles, which topped the leaderboard on our Foresight 2021 report. Chinese autonomous trucking company Inceptio raised $120 million, Pony.ai raised $267 million, and Nuro raised $500 million – all just in the past week. Of note, all three companies are pursuing long-haul trucking or last-mile delivery use cases. This signifies a shift away from ride-hailing as the No. 1 priority for autonomous vehicle companies, which many attribute to the ongoing COVID-19 pandemic. With more than $5 billion in total funding going into autonomous vehicles this year, the sector will still need to raise over $4 billion more to match the record funding numbers seen in 2019.

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