nuTonomy Raises $16M

What does nuTonomy do?

nuTonomy, is a spin out focused on self-driving cars and autonomous mobile robots. This company builds state of the art self-driving cars and autonomous mobile robots. The company is working with major automotive manufacturers and small startups for reinventing the personal mobility for the 21^st century. This is self-driving technology’s one of the lead developers of, racing the big names in the industry including Alphabet Inc, Uber Technologies and General Motors Co. –  to test the autonomous cars on public roads. The company is a spin out in 2013 from the MIT. It has investors like Singapore’s economic development arm and Highland Capital Partners LLC.

How much nuTonomy was funded?

nuTonomy raised $16M in Series A on May 24, 2016 from Samsung Ventures, Fontinalis Partners, Signal Ventures, Highland Capital Partners and Singapore Economic Development Board.

Previous funding

$3.6M on January 28, 2016 from Samsung Ventures, Fontinalis Partners and Signal Ventures

What is next for nuTonomy?

The company has raised a total of $19.6M to date. The company has plans on launching autonomous taxis for this summer in Singapore. Singapore is much expected to lead in autonomous cars public testing area. It has plans of investing hugely in creation of self driving cars’ infrastructure, and holds promise to ease the regulatory issues for automotive companies and others that are planning to break ground. The latest funding will help the company in launching a commercial autonomous taxi service in 2018.

More about nuTonomy
nuTonomy was founded in 2013 by Emilio Frazzoli and KARL IAGNEMMA. It has its headquarters in Cambridge, Massachusetts. This is one of the 8 companies including BMW AG and Uber which submitted proposals to run projects on autonomous driving. The company is using retrofitted Mitsubishi iMiev electric cars and it has plans of including Renault Zoe EVs in its cab service in later 2016.