Autonomous vehicle tech company AImotive positions itself for sale [Reuters]
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Source: Reuters
By Alexandria Sage | SAN FRANCISCO SAN FRANCISCO Hungarian autonomous vehicle technology start-up AImotive, which has changed its name from AdasWorks, said on Monday it had expanded to Silicon Valley, opening the door to becoming an acquisition target. The company, which has raised $10.5 million in seed and Series A funding from investors including Tier One supplier Bosch and graphics chip maker Nvidia Corp ( NVDA.O ), opened an office in Silicon Valley. AImotive is developing software that combines artificial intelligence with a low-cost system for gathering information about the conditions around a vehicle. A production version of the system for enabling autonomous driving will be ready in two years, executives said. "If you just see the statistics, we will probably be an acquisition," Chief Executive Officer Laszlo Kishonti told Reuters. In the highest-profile deal to date, General Motors Co ( GM.N ) bought self-driving start-up Cruise Aut
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