Driverless vehicle technology provider Cruise agreed yesterday to buy Voyage, a US-based autonomous taxi developer backed by corporate venturing funds InMotion Ventures and Chevron Technology Ventures, for an undisclosed amount.
Voyage is developing robotaxis equipped with its own self-driving software and capable of travelling at up to 40km per hour, for use in small communities. Its initial customer base is senior citizens.
The company had raised $52m, including $20.2m in a series A round that closed in 2018 with $3m from InMotion Ventures, the strategic investment arm of carmaker Jaguar Land Rover, and additional cash from Khosla Ventures, SV Angel, Initialized Capital, Amino Capital and CRV.
Franklin Templeton led Voyage’s $31m series B round in September 2019, investing alongside InMotion Ventures, Khosla Ventures and Chevron Technology Ventures, a subsidiary of petroleum supplier Chevron.
Oliver Cameron, Voyage’s co-founder and CEO, said: “The self-driving industry is consolidating, and the leaders of a trillion-dollar market are fast emerging.
“After being intimately involved with the AV industry for the last five years, I can say with certainty that Cruise – with its advanced self-driving technology, unique auto-maker partnerships, and all-electric purpose-built vehicle with no human controls – is poised to be the clear leader.
“Now, with the addition of the customer-obsessed Voyage team, Cruise is well-positioned to deliver the best self-driving product in the world.”
