Do you want to end up with millions of dollars in your hands? If so, you should find some engineers and start a self-driving-car company, because it seems like investors will just heap money onto anyone looking to create the future of transportation. One recent startup, nuTonomy, just received $16 million in funding to expand its programs.
nuTonomy isn't coming out of Silicon Valley. Instead, it's starting in Singapore. In fact, The Wall Street Journal reports that Singapore's economic-development arm contributed to nuTonomy's recent round of funding, which follows a $3.6 million investment round in January.
Using modified versions of Mitsubishi'selectric car, nuTonomy is developing its software for eventual use in autonomous taxicabs. Singapore is soon to be a connected-car haven of sorts, as the wealthy state plans to invest heavily in alternate methods of transportation. WSJ says that nuTonomy joins Uber and BMW in pitching its services to Singapore's government.
That said, nuTonomy is also operating in Michigan, one of the US states to embrace autonomous vehicle testing, and it's already completed a pilot program that studied human behavior while "behind the wheel" of a self-driving car.
Being in Michigan is good, because if nuTonomy really wants to bring its services head to head with industry titans like Google, Uber and General Motors, it's going to need to lay down some operations in the US.