Walmart is investing in self-driving development with Cruise
The retail giant's investment pushes Cruise's latest funding round to $2.75 billion.
Walmart decided to put a ring on it, figuratively speaking, by investing in Cruise.
GM-backed autonomous vehicle developer Cruise is having quite a week. Not only did it sign an agreement to be the sole self-driving vehicle partner with Dubai, it's now got Walmart as an investor, as confirmed on Thursday in an announcement by Walmart US CEO John Furner.
This isn't Walmart's first time around the dance floor with Cruise, of course. The two companies partnered on an autonomous delivery system pilot program in Scottsdale, Arizona, which was announced last November. Walmart has also worked with developer Gatik on self-driving delivery vehicles, with pilot programs in Arkansas and Louisiana.
"This investment is a marker for us -- it shows our commitment to bringing the benefit of self-driving cars to our customers and business," Furner said in a blog post. "We're excited to join Cruise's already impressive partner and investor ecosystem with the likes of GM, Honda and Microsoft as we work toward pioneering this emerging technology."
Walmart's investment pushes the total of Cruise's latest funding round to a whopping $2.75 billion.
