Self-driving car startup NuTonomy in talks to raise new funds

SINGAPORE (Sept 27): NuTonomy Inc., a self-driving car startup backed by Ford Motor Co. Chairman Bill Ford and Singapore’s government, is in discussions with potential investors for a new round of funding as it works toward a full commercial launch in 2018.

“We’ve had interest from every corner of the globe because it is really a global opportunity,” nuTonomy Chief Executive Officer Karl Iagnemma said in an interview. “The challenge is to find the right investors and make sure you’re aligned with groups who share your strategic vision.”

The new round, which is expected to close in the first half of 2017, will be “multiples” of the US$16 million ($21.7 million) nuTonomy raised in May, he said. Temasek Holdings, Singapore’s state investment company which has backed technology startups such as Airbnb Inc. and Didi Chuxing, is among the investors it has held discussions with in the past, he said.

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