INSUBCONTINENT EXCLUSIVE:
Drive.ai, the autonomous vehicle tech startup once valued at $200 million, is shutting down after four years, according to astate
regulatory filing.
The closure was first reported by the San Francisco Chronicle
The company is not responding to media inquiries, a PR rep told TechCrunch.
The company Mountain View headquarters will close down on
Friday, according to WARN documents filed with the Employment Development Department of California
A company must file a WARN document ahead of a mass layoff or plant closure.
Rumors have been swirling for weeks that Apple was looking to
Earlier this month, The Information reported that Apple was pursuing an acqui-hire, a term that typically means a smaller, targeted
acquisition aimed at bringing on specific talent.
That appears to have panned out for at least some of the company 90 employees
At least five employees changed their LinkedIn profiles to show they started employment at Apple special projects division this month,
according to SF Chronicle and confirmed by TechCrunch own review.
Drive.air was founded in 2015 by former graduate students working in
Stanford University Artificial Intelligence Lab run by Andrew Ng, the renowned artificial intelligence expert
Ng is chairman of Drive.ai board and is married to co-founder Carol Reiley.
The company, which originally focused on self-driving software
systems and intelligent communications systems, received a lot of attention and investment in those first years
It later raised more money as it tweaked its business model with a plan to combine deep learning software with hardware to make self-driving
retrofitted kits designed for business and commercial fleets
In all, the company has raised about $77 million, according to Pitchbook data
It was last valued at $200 million in 2017.
The startup ramped up operations in 2017 and 2018
Last year it launched a pilot program in Frisco, Texas to test an on-demand service using self-drivings
But even as it expanded, the executive team appeared to be constantly in flux with several people holding the CEO spot.
