Venture Capital

Gm’s Self-driving Division Cruise Raises Another $1.15B

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Cruise Automation, the self-driving division of General Motors, announced on Tuesday that it has secured a $1.15 billion investment, raising its post-money valuation to an eye-popping $19 billion. The money was raised from 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,” Cruise said in a statement. It’s another enormous boost for GM’s Cruise. Last May, it announced a $2.25 billion investment from the SoftBank Vision Fund, a major venture investment effort that was started by the Japanese tech giant in 2016.

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