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Baidu announces $1.5B fund to back self-driving car startups

Baidu is placing some critical money at the back of its self-driving car push after it introduced a $1.five billion fund that’s thinking about backing self reliant riding tech firms.

The Chinese massive, very best identified for its web seek carrier and AI era, has prioritized self reliant cars in a significant means in recent times so this comes as little marvel. Baidu made its Apollo self-driving car platform freely to be had to the car business previous this 12 months. That temporarily picked up companions and it lately claims round 70, together with Hyundai, Bosch, Continental, Nvidia, Microsoft Cloud, Velodyne, TomTom, UCAR and Grab.

Now Baidu — which is trying out self reliant cars in each China and the U.S. — is doubling down with capital by the use of this new fund, which it stated will intention to strengthen round 100 firms over the following 3 years.

Baidu additionally shipped a significant replace to Apollo this week which added 5 further core functions to its platform. Those come with impediment belief, making plans, cloud simulation, High-Definition (HD) maps and End-to-End deep studying.

This is the second one huge scale funding company Baidu has introduced lately. Last month, it uncorked a $1.five billion fund in partnership with China Life Insurance Group centered at late-stage offers with firms with “significant association” with China.

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