Drive.ai press kit
- Self-driving car startup Drive.ai is shutting down and laying off 90 employees, the San Francisco Chronicle reports.
- The move comes after acquisition talks with Apple reportedly fell through.
- Five former Drive.ai engineers have changed their LinkedIn profiles to say they’re now working at Apple, according to the Chronicle.
- Drive.ai had raised some $77 million from investors including New Enterprise Associates and Nvidia GPU Ventures.
- Visit Business Insider’s homepage for more stories.
Self-driving car startup Drive.ai is shutting down and laying off 90 employees by the end of June, reports the San Francisco Chronicle.
Drive.ai’s product was unique — rather than create self-driving cars from scratch, the company made "kits" to turn regular cars into autonomous vehicles.
The news comes after The Information reported that the company was looking for buyers earlier this year.
Indeed, Drive.ai was recently in talks with Apple about a possible acquisition, according to the Chronicle. It’s unclear what happened with that deal, but the report indicates that some Drive.ai engineers have updated their LinkedIn profiles to say they’re now working at Apple.
The company had raised $77 million in five funding rounds, according to Crunchbase, with investors including New Enterprise Associates and Nvidia GPU Ventures.
A spokesperson for Drive.ai did not immediately respond to a request for comment.
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Source: Business Insider –