Walmart invests in self-driving startup Cruise

Walmart is investing in self-driving startup Cruise as part of a massive $2.75 billion investment round in the company—an expansion of the $2 billion round announced in January. That original announcement featured three other big names: GM, Honda, and Microsoft.

Cruise was originally an independent startup but was acquired by GM in 2016. GM has poured billions into the company and has increasingly sought additional financial support from outside investors.

Walmart and Cruise partner to test autonomous grocery delivery in Arizona

U.S. retailer Walmart  and autonomous vehicle company Cruise  are pairing up to test grocery delivery in Scottsdale, Arizona.

Under the pilot program, customers will be able to place an order from their local Walmart store and have it delivered via one of Cruise’s autonomous, electric Chevy Bolt cars. While the vehicles will operate autonomously, a human safety operator will always be behind the wheel.

Cruise can now transport passengers in self-driving cars in CA

Cruise  recently received a permit to transport passengers in its autonomous vehicles in California. Granted by the California Public Utilities Commission, the permit is part of the state’s Autonomous Vehicle Passenger Service pilot.

As part of the program, Cruise must provide data and reports to the CPUC regarding any incidents, the number of passenger miles traveled and passenger safety protocols. Cruise must also have a safety driver behind the wheel and not charge passengers for rides.

Cruise is now one of five self-driving companies allowed to participate in this program. The others are Zoox, Waymo, Pony.ai, Aurora and AutoX. This program is a bit different from the one run by the California Department of Motor Vehicles, which has granted 66 companies permits to test their respective vehicles in the state.

GM Cruise raises $1.15B at a $19B valuation from SoftBank and Honda

GM Cruise has raised another $1.15 billion in new equity from a group of investors that includes T. Rowe Price Associates, Honda, SoftBank  Vision Fund and its parent company GM, as the self-driving vehicle company pushes to launch a commercial autonomous ride-hailing service this year.

This investment increases Cruise’s post-money valuation to $19 billion, inclusive of SoftBank’s previously announced investment commitment. Cruise has secured capital commitments totaling $7.25 billion in the past year, according to the company.

GM’s Cruise gets $2.25B from SoftBank’s Vision Fund, $1.1B from GM

General Motors  today announced a large investment into its self-driving unit, Cruise. SoftBank’s  Vision Fund will invest $2.25 billion in GM Cruise Holdings LLC and when the deal closes, GM will invest an additional $1.1 billion. The investments are expected to inject enough capital into Cruise for the unit to reach commercialization at scale beginning in 2019.