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Apple reportedly acquires self-driving car startup Drive.ai
Abstract：Drive.ai reportedly planned to cease operations and lay off 90 employees. Now, an Axios report says they've been acquired by Apple.
Apple has reportedly acquired self-driving car startup Drive.ai.
This news comes after the San Francisco Chronicle reported Drive.ai was shutting down and laying off 90 employees. The report also said that five former Drive.ai engineers had changed their LinkedIn profiles to say they were working at Apple.
The Verge had originally reported that the deal with Apple had fallen through.
Drive.ai had raised some $77 million from investors including New Enterprise Associates and Nvidia GPU Ventures.
Apple has acquired self-driving car startup Drive.ai, according to a new report by Axios. The news comes after the San Francisco Chronicle reported that Drive.ai was shutting down and laying off 90 employees by the end of June. The Verge had originally reported that the deal with Apple fell through.
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 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 Apple did not immediately respond to a request for comment.
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