GM Cruise raises $1.15B at a $19B valuation from SoftBank and Honda

GM Cruise has raised another $1.15 billion in new equity from a group of investors that includes T. Rowe Price Associates, Honda, SoftBank Vision Fund and its parent company GM, as the self-driving vehicle company pushes to launch a commercial autonomous ride-hailing service this year. This investment increases Cruise’s post-money valuation to $19 billion, inclusive of SoftBank’s previously announced investment commitment. GM Cruise has one of the most aggressive timelines among companies hoping to deploy a commercial self-driving vehicle service.