NEWS COMMENTARY

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

Published:
November 09, 2020
Coverage:
Digital Transformation More...
Activities:
Investment
by Josh Kern
Average importance

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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