GM Cruise raises $1.15B at a $19B valuation from Softbank and Honda

GM Cruise has raised another $1.15 billion in new equity from a group of investors that includes T. Rowe Price Associates, Honda, SoftBank Vision Fund and its parent company GM, as the self-driving vehicle company pushes to launch a commercial autonomous ride-hailing service this year. GM Cruise has one of the most aggressive timelines among companies hoping to deploy a commercial self-driving vehicle service. Once Cruise’s autonomous vehicles are ready for commercial deployment, SoftBank will complete the second investment of $1.35 billion, the companies said at the time.

Source: techcrunch.com