Expectations around when cars will drive themselves have cooled, but tech investors still want to find their horse. The latest to raise money is Aurora Innovation, which announced it secured more than $530 million from new investors Sequoia Capital, Amazon and T. Rowe Price, as well as existing ones like Greylock Partners and Index Ventures. Amazon’s investment is notable, and it’s obvious that the company would want a stake in the industry to help shape the future of goods delivery, among other uses.
Aurora, testing 10 autonomous cars in Pittsburgh and California, has gotten clout in the industry off the bat thanks to its high-profile founders, veterans of Alphabet, Uber and Tesla’s automated driving programs. There’s still lots of research and development to be done as Aurora tries to catch up to more experienced companies like Waymo and Cruise.