Autonomous Vehicle News
The publicly traded Aurora has secured an $820 million raise thanks to a combination of public and private funding, it announced this week. According to leadership, this puts the Strip District-based autonomous trucking company on track to be funded through its commercial launch slated for 2024. CEO Chris Urmson said he takes the raise as a sign that reputable investors believe Aurora has the ability to commercialize its autonomous vehicles at scale. Pittsburgh Biz Times reports the company has endured a series of difficult quarters recently: In Q1 2023, Aurora reportedly saw a $196 million net loss, and prior to that in Q4 2022, a $293 million net loss. As the economy remains uncertain, Urmson said he feels heartened that investors and institutions are willing to give Aurora a vote of confidence in the form of dollars and cents.