附近上门

, a developer of technology for self-driving vehicles and a division of , just raised $1.15 billion in fresh funding from a cohort of institutional and corporate investors.

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The financing sets a post-money valuation of around $19 billion for the San Francisco-based company, 鈥渋nclusive of SoftBank Vision Fund’s previously announced investment commitment,鈥� Cruise said in a issued this morning.

The money came from a group consisting of institutional investors, including funds and accounts advised by and existing backers General Motors, and Honda, according to Cruise.

The latest financing brings the company鈥檚 total raised since inception to $7.25 billion, it said. In May 2018, SoftBank and GM led that gave the company a post-money valuation of $12.7 billion, according to its 附近上门 profile.

鈥淒eveloping and deploying self-driving vehicles at massive scale is the engineering challenge of our generation,鈥� said Cruise CEO , in the press release. “Having deep resources to draw on as we pursue our mission is a critical competitive advantage.”

Besides its San Francisco headquarters, Cruise has offices in Seattle, Pasadena, and Phoenix. Its mission is to build 鈥渢he world鈥檚 most advanced self-driving, all electric vehicles.鈥� GM acquired the six-year-old company, formerly known as Cruise Automation, for in 2016. We reached out to the company for more details and will update the story when we have them.

In general, the self-driving space is heating up. Interestingly, SoftBank is funding more than one related initiative. Last month, we reported on how confirmed that its cash-burning self-driving unit received a $1 billion investment from auto giant , Japanese automotive components manufacturer ., and the SoftBank Vision Fund. As part of that, Uber said it would spin out the unit into a newly-formed advanced technologies 鈥渆ntity鈥� focused on 鈥渢he development and commercialization鈥� of automated ride-hailing services.

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