It's just the latest high-profile investment from a startup with backing from GM, Honda, and Microsoft.
Walmart is investing in San Francisco-based Cruise, the General Motors-backed self-driving car startup.
- Walmart is investing in Cruise, GM's self-driving car startup.
- It will join a $2.75 billion funding round that also includes Microsoft and Honda.
- Walmart previously said it would team up with Cruise for a self-driving delivery pilot.
The companies announced on Thursday that Walmart will participate in a $2.75 billion funding round. The retail giant's investment comes five months after it announced plans to team up with Cruise for a self-driving delivery pilot in Scottsdale, Arizona.
In a Wednesday blog entry, Walmart US CEO John Furner said Cruise is a characteristic accomplice for Walmart as it plans to progress to environmentally friendly power sources by 2035 and accomplish zero discharges by 2040. Voyage utilizes all-electric vehicles in its armada.
"This speculation is a marker for us - it shows our obligation to bringing the advantage of self-driving vehicles to our clients and business," Furner said. "The speculation will help our work toward building up a last mile conveyance environment that is quick, minimal effort, and adaptable."
Voyage's most recent financing round additionally incorporates Microsoft, GM, Honda, and institutional financial backers. It carries the startup's valuation to more than $30 billion, notwithstanding as yet being in the improvement stage.
"Self-driving cars will make transportation safer, cleaner and more accessible for everyone. Making this happen requires a clear mission, world-class talent, great partners and a lot of capital," Cruise CEO Dan Ammann said in a statement.
The announcement comes days after Cruise announced that it will serve as the exclusive self-driving taxi provider in Dubai starting in 2023.