Uber Announces Early $1B AV Investment

Uber’s Advanced Technologies Group, which works on self-driving vehicles, has netted an investment from SoftBank, Denso and Toyota adding up to 10 figures.

April 23, 2019

April 23, 2019—Uber has announced a deal for a $1 billion investment in its self-driving vehicle unit, weeks before its initial public offering, reported CNBC.

Toyota and Japanese auto-parts supplier Denso will together invest $667 million, while Softbank’s Vision Fund will invest $333 million.

Uber officially kicked off its IPO process last week with the public filing of its prospectus. The next stage is a road show at the end of April, where Uber’s executives and bankers will sell the ridesharing startup’s story and business model to potential public market investors.