Aurora, a self-driving car start-up co-founded by the former head of Alphabet’s Waymo, is raising a new round of funding expected to be led by venture capital firm Sequoia Capital, said three people familiar with the matter.
The round, which has not yet been finalised, was expected to exceed $500m and value Aurora at more than $2bn, two of the people said. Aurora and Sequoia declined to comment.
The new fundraising, first reported by Recode, would be a significant increase over the $90m Aurora raised nearly a year ago from Index Ventures and Greylock that valued the start-up in the hundreds of millions of dollars.
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