Palo Alto based auto startup, Zoox, secured $200m in venture financing by investors Lux Capital and DFJ. Zoox is said to be building the technology that will compete with Google's self-driving cars and Cruise Automation, which was recently acquired by GM.
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Zoox raises $200 million at $1 billion valuation for its self-driving cars
As the technology improves with self-driving cars, there has been talk that Uber-like services will be purely automated. Significant investment has been poured into automotive startups, and traditional automakers, which have been slow to innovate, are likely to continue making acquisitions in the space.
