Drive.ai Brings In $50 Million

Transportation startup Drive.ai announced it has raised $50 million in Series B financing. Three investors participated in the round, among them New Enterprise Associates and GGV Capital.

Drive.ai is a Silicon Valley start-up founded by former lab mates out of Stanford University’s Artificial Intelligence Lab. They are creating AI software for autonomous vehicles using deep learning, which they believe is key to the future of transportation. They founded Drive.ai with the goal of using technology to save lives and transform industries.

In its announcement, the company said that with the new funding it is planning to introduce its enterprise solution and a global release.