Cruise, a San Francisco, CA-based maker of self-driving, all-electric vehicles, received a $1.15 billion equity investment.
Backers included a group comprising institutional investors, including funds and accounts advised by T. Rowe Price Associates, Inc., and existing partners General Motors, SoftBank Vision Fund and Honda.
This investment increases the company’s post-money valuation to $19.0 billion, inclusive of SoftBank Vision Fund’s previously announced investment commitment. In the last year, it has secured capital commitments totaling $7.25 billion.
Founded in 2013 and led by CEO Dan Ammann, Cruise is building advanced self-driving, all-electric vehicles that safely connect people to the places, things, and experiences.
The company also has offices in Seattle, Pasadena, and Phoenix.