COMPANY INFO
Cruise, officially known as Cruise Automation, Inc., was founded in 2013 by Kyle Vogt and Daniel Kan. The company has approximately 3,326 employees and operates in the automotive industry, specializing in self-driving autonomous vehicles. Its website is www.getcruise.com. Cruise designs and manufactures zero-emission autonomous vehicles that integrate hardware and software to provide safe, efficient transportation solutions. The company aims to transform urban mobility by reducing carbon pollution and improving transit times through advanced AI and sensor technologies. (pitchbook.com, tracxn.com)
Cruise, officially known as Cruise Automation, Inc., was founded in 2013 by Kyle Vogt and Daniel Kan. The company operates in the automotive industry and employs approximately 3,800 people as of 2023. Cruise specializes in the design and production of zero-emission autonomous vehicles, integrating advanced hardware and software to revolutionize urban mobility. The company's innovative use of AI and sensor technologies aims to reduce carbon emissions and improve the efficiency of city transportation.
Cruise funding has been notable for its combination of strategic corporate partnerships and venture capital investment. The company has raised a total of $16.05 billion across 10 funding rounds, including multiple late-stage and early-stage investments. Key milestones include major Series B and Series D infusions and ongoing support from some of the world’s leading technology and automotive companies. Cruise’s investors represent a mix of institutional finance and corporate backers, reflecting its approach to scaling autonomous vehicle technology through both innovation and robust capital supply. The Cruise funding rounds underscore the company's ambition to lead the self-driving car industry, with funds dedicated to technology advancement, scaling operations, entering new markets, and strategic partnerships.
This Series E round was aimed at late-stage growth, supporting large-scale adoption and further development of Cruise’s autonomous vehicle technology.
This round supported Cruise’s strategic partnership with Walmart, expanding applications in retail and logistics services.
The $2.2 billion Series D investment, led by Microsoft and Honda, fueled technology development and Cruise’s market expansion, accelerating its position in the autonomous driving sector.
Cruise’s Series C funding focused on product development and scaling its autonomous vehicle operations, with major contributions from T. Rowe Price and SoftBank Vision Fund.
This $750 million Series B round helped Cruise expand into new markets and enhance its autonomous driving technology, led by Honda.
Driven by SoftBank Vision Fund, this substantial round enabled major organizational growth and strategic scaling efforts.
Provided initial capital for Cruise to launch its core autonomous vehicle products and technology.
Early seed funding for foundational product development.
This early round helped advance Cruise’s autonomous technology.
Initial funding for research and engineering development during Cruise’s formative period.
Debt financing to support Cruise operational growth and capital needs.
A leading global technology investment fund, SoftBank Vision Fund has played a central role in Cruise funding, particularly with large investments in Series B and C rounds. Its involvement has enabled Cruise to pursue aggressive growth and technology innovation strategies.
As a major U.S. retailer, Walmart participated in Cruise's Series D funding to support strategic collaborations in retail and logistics automation, amplifying Cruise’s reach in on-demand delivery services.
Microsoft’s investment during the Series D round marked a significant corporate alliance, supplying both capital and technology partnership opportunities—key to advancing Cruise’s autonomous vehicle development.
Honda has been instrumental in multiple Cruise funding rounds as both a financial and strategic partner, focusing on collaborative vehicle development and technology integration to drive the adoption of autonomous technologies.
An established institutional investor, T. Rowe Price led Cruise’s Series C round, providing crucial venture capital resources that accelerated organizational growth and expanded product offerings.
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