Self-driving car startup NuTonomy seeks investors to raise new funds

It targets ’multiples’ of previous US$16m funds it raised in May.

As it works toward a full commercial launch in 2018, the self-driving car startup nuTonomy, which is backed by Ford Motor Co. Chairman Bill Ford and the Singapore’s government, is in talks with potential investors for a new round of funding.

In an interview with Bloomberg, nuTonomy CEO Karl Iagnemma said the new round is expected to close in the first half of 2017 and will raise multiples of the US$16 million ($21.7m) funds the startup raised in May.

“We’ve had interest from every corner of the globe because it is really a global opportunity. The challenge is to find the right investors and make sure you’re aligned with groups who share your strategic vision,” he said.

Iagnemma noted that Singapore's state investment company Temasek Holdings Pte., which has backed technology startups such as Airbnb Inc. and Didi Chuxing, is among the investors it has held discussions with in the past.

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