Voyage, a start-up company based in Palo Alto, California, U.S.A., whose mission is to build the technology to bring autonomous transportation to those who need it most such as retirement communities, has closed its Series B financing round, with Chevron Technology Ventures as an investor through its Future Energy Fund.
“Chevron has been supporting the public’s transportation needs for over 100 years. As our customers’ mobility needs and preferences change, we want to continue to be part of their journeys. Our investment in Voyage affirms this commitment,” said Barbara Burger, president of Chevron Technology Ventures.
“We established the Future Energy Fund in 2018 with an initial commitment of USD100 million to invest in breakthrough technologies that enable the ongoing energy transition. The fund looks for technologies that lower emissions and support low carbon value chains. Our investment in Voyage fits well within the objectives of the Future Energy Fund while also informing our perspective on the changing energy landscape,” said Burger.
Investors in Voyage’s Series B financing round included, besides Chevron Technology Ventures, Franklin Templeton, Khosla Ventures, and Jaguar Land-Rover’s InMotion Ventures. This financing round of USD31 million brings the total capital raised by Voyage to USD52 million thus far.
“At Voyage, our mission is to deliver on the promise of self-driving cars, and we are thrilled to be working with forward-thinking investors who deeply believe in that mission. Together with these new resources, we will deliver an autonomous ride-hailing service to customers who truly need it,” said Oliver Cameron, co-founder and CEO of Voyage.
“We will be utilizing this capital to ready our self-driving technology for commercialization, grow our team of self-driving experts, expand our fleet of G2 self-driving cars in California and Florida, and introduce our G3 self-driving car,” he said.