The News Scroll 26 June 2019  Last Updated at 8:40 pm | Source: IANS

Apple acquires autonomous vehicle start-up Drive.ai

Apple acquires autonomous vehicle start-up Drive.ai
outlookindia.com
1970-01-01T05:30:00+0530
Apple acquires autonomous vehicle start-up Drive.ai

San Francisco, June 26 (IANS) Apple has purchased autonomous vehicle startup Drive.ai for undisclosed amount, according to reports.

The start-up had raised $77m in venture capital, with its latest round in 2017 valuing it at $200m.

Drive.ai was founded in 2015 by machine learning researchers from Stanford University and had been running a ride-hailing service with its autonomous shuttles in Texas, The Verge reported late on Tuesday.

The Cupertino-based company has hired dozens of Drive.ai engineers and Drive.ai has ceased all operations over the course of the last few weeks. The deal and hires confirm that the iPhone maker hasn''t given up its autonomous driving project.

Earlier this year, Apple cut over 200 employees from its Project Titan team due to what it called "restructuring."

In July last year, Drive.ai partnered up with the City of Frisco, Texas to launch its first autonomous pilot programme.

--IANS

wh/vd


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: IANS
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