[NEWS] Self-driving startup Drive.ai is closing down – Loganspace

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[NEWS] Self-driving startup Drive.ai is closing down – Loganspace


Drive.ai,the self sustaining vehicle tech startup as soon as valued at $200 million, is shutting down after four years, basically basically based totally on a train regulatory filing.

The closure turned into as soon as first reported by theSan Francisco Account. The company is now now not responding to media inquiries, a PR acquire advised TechCrunch.

The company’s Mountain Behold headquarters will halt down on Friday, basically basically based totally on WARN paperwork filed with the Employment Pattern Division of California. An organization have to file a WARN doc ahead of a mass layoff or plant closure.

Rumors were swirling for weeks thatAppleturned into as soon as having a discover to snap up the startup. Earlier this month, The Knowledge reported thatApple turned into as soon as pursuing an acqui-rent, a term that occasionally device a smaller, focused acquisition geared in direction of bringing on particular expertise.

That appears to indulge in panned out for now now not now now not as a lot as some of the company’s 90 workers. No lower than 5 workers changed theirLinkedInprofiles to demonstrate they started employment at Apple’s special initiatives division this month, basically basically based totally on SF Account and confirmed by TechCrunch’s indulge in overview.

Drive.air turned into as soon as founded in 2015 by inclined graduate college students working inStanford University’sSynthetic Intelligence Lab flee by Andrew Ng, the celebrated man made intelligence knowledgeable. Ng is chairman of Drive.ai’s board and is married to co-founder Carol Reiley.

The company, which on the starting up serious about self-utilizing system programs and keen communications programs, obtained a form of attention and investment in these first years. It later raised extra money as it tweaked its industry mannequin with a notion to mix deep studying system with hardware to score self-utilizing retrofitted kits designed for industry and commercial fleets. In all, the company has raised about $77 million, basically basically based totally onPitchbook files. It turned into as soon as closing valued at $200 million in 2017.

The startup ramped up operations in 2017 and 2018. Closing year it launched a pilot program in Frisco, Texas to envision an on-interrogate provider the utilization of self-drivings. Nonetheless at the same time as it expanded, the manager crew looked as if it would be continuously in flux with quite so a lot of other folks keeping the CEO draw.

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