Image for representation onlySelf-driving startup Drive.ai said on Tuesday it raised $50 million in a second round of funding as the Silicon Valley company prepared to deploy its technology in pilot vehicles later this year. Ng formerly led AI projects at Baidu and Alphabet's Google. The latest round of funding - led by New Enterprise Associates, Inc, GGV Capital and existing investor China-based Northern Light Venture Capital - came as investor interest in autonomous vehicles continued to intensify. Drive.ai is aiming to build an after-market software kit powered by artificial intelligence to turn traditional vehicles operated by businesses into self-driving models. Drive.ai, which received $12 million in an initial funding round last year, also named to its board the head of Asia for New Enterprise Associates, Carmen Chang.

Source: Economic Times June 27, 2017 22:41 UTC