Total amount raised
$1 Billion
Latest funding date
10/1/2019
Location
Zoox has successfully raised funding over five rounds, with the latest being a Convertible Note round. The company is backed by 13 investors, including Alium Capital and Employee Stock Option Fund.
Keep reading to explore the intricacies of Zoox's fundraising journey and the investors backing this innovative platform.
What Is Zoox?
Zoox is an AI robotics company specializing in autonomous vehicles and robotaxis. The company provides mobility-as-a-service and self-driving car services, emphasizing a user-centric experience. Zoox operates in multiple industries, including AI, autonomous vehicles, machine learning, robotics, and transportation.
Founded in Foster City, California, Zoox has a significant employee base ranging from 1001 to 5000 employees. The company has been acquired by Amazon and continues to operate as a private entity, expanding its services to cities like Las Vegas and San Francisco, with plans to enter Austin and Miami.
How Much Funding Has Zoox Raised?
- Seed Round
- Amount Raised: USD 40,000,000
- Date: July 2015
- Lead Investors: Lux Capital, Threshold
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Zoox's autonomous vehicle technology.
- Series A Round
- Amount Raised: USD 200,000,000
- Date: October 2016
- Lead Investors: Blackbird Ventures, Lux Capital, Thomas Tull, Threshold
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand research and development efforts and scale the business.
- Series A Round
- Amount Raised: USD 50,000,000
- Date: November 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support the company's growth and technological advancements.
- Series B Round
- Amount Raised: USD 465,000,000
- Date: July 2018
- Lead Investors: Grok Ventures
- Valuation at Round: USD 3.2 billion
- Motivation Behind the Round: To boost the company's bankroll for developing electric robotaxis.
- Convertible Note
- Amount Raised: USD 200,000,000
- Date: October 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development and production of Zoox's unique autonomous vehicles.
Total Amount Raised: USD 955,000,000. Current Valuation: USD 3.2 billion.
Key Investors
- Alium Capital
- Details: Alium Capital is a recent investor in Zoox, participating in the Series B round. The firm focuses on investing in technology and innovative companies.
- Investment Focus Areas: Technology, innovative companies.
- Notable Investments: Various technology startups.
- Grok Ventures
- Details: Grok Ventures is a key investor in Zoox's Series B round. The firm is known for investing in technology and innovative companies.
- Investment Focus Areas: Technology, innovative companies.
- Notable Investments: Various technology and innovative companies.
- Blackbird Ventures
- Details: Blackbird Ventures is a key investor in Zoox's Series A round. The firm focuses on early-stage technology companies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Canva, Culture Amp.
- Lux Capital
- Details: Lux Capital is a key investor in Zoox's Series A and Seed rounds. The firm invests in emerging science and technology ventures.
- Investment Focus Areas: Emerging science, technology ventures.
- Notable Investments: Anduril, Shapeways.
- Threshold
- Details: Threshold is a key investor in Zoox's Series A and Seed rounds. The firm focuses on early-stage technology companies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Box, Doximity.
What's Next for Zoox?
Zoox is poised to capitalize on significant opportunities in the autonomous vehicle market. With the expansion of testing to new locations like Las Vegas and the development of self-driving cars from the ground up, the company is setting itself apart from competitors. The $200 million convertible note, part of the Series C funding round, underscores the potential for further investments and strategic partnerships.
As Zoox continues to innovate, future fundraising opportunities are likely, especially with the completion of the Series C round. However, the company faces challenges, including leadership changes and competition from established players like Waymo. Navigating these hurdles will be crucial for Zoox's continued growth and success in the autonomous vehicle industry.
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