Zoox, a once-secretive self-driving car startup, is closing a $500 million raise at a $3.2 billion post-money valuation, Bloomberg Businessweek reports. Prior to the deal, Zoox was valued at $2.7 billion, Zoox confirmed to TechCrunch. The round, led by Mike Cannon-Brookes of Grok Ventures, brings its total amount of funding to $800 million.
Zoox’s plan, according to Bloomberg, is to publicly deploy autonomous vehicles by 2020 in the form of its own ride-hailing service. The cars themselves will be all-electric and fully autonomous. Meanwhile, ride-hail companies like Uber and Lyft are also working on autonomous vehicles, as well as a number of other large players in the space.