Amazon.com is investing in self-driving vehicle startup Aurora Innovation, according to Aurora’s press release on Medium.
The company joined capital venture firm Sequoia and T. Rowe Price Group to invest $530 million in the company in the Series B financing. After this financing Aurora’s valuation is raised to nearly $2.5 billion, according to some media reports.
The company also announced that Carl Eschenbach, Partner at Sequoia, will join existing external directors, Mike Volpi, Reid Hoffman, and Ian Smith.
With this newest investment, the company aims to accelerate the development of the Aurora Driver and strengthen team and ecosystem. Aurora has also entered into partnerships with Hyundai, Volkswagen and Byton, a Chinese electric vehicle startup.