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- Argo AI
Argo AI Valuation, Funding & Investors
Argo AI is valued at $7B as of July 2019.
Last Argo AI valuation
$7B
Strategic investment · Jul 2019
Last Argo AI funding round
$2.6B
Strategic investment · Jul 2019
Cumulative funding Argo AI raised
$3.6B
across 2 funding rounds
Key investors in Argo AI
About Argo AI
Argo AI was a Pittsburgh-headquartered developer of autonomous vehicle technology, operating engineering centers in Detroit, Cranbury, Los Angeles, Palo Alto, and Munich. Launched in 2016 by Ford and Volkswagen, it built the Argo Autonomy Platform for self-driving ridesharing and delivery until operations ceased in 2022 with technology transferred to Ford.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$7B (Jul 2019)
Argo AI Valuation
Argo AI is currently valued at $7B, based on its strategic investment round in July 2019.
The $2.6B round was led by Volkswagen.
Argo AI valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2019 | Strategic investment | $7B |
Argo AI Funding History
Argo AI has raised a total of $3.6B across 2 funding rounds.
Argo AI's first fundraising round was a $1B undisclosed-stage round in February 2017. The most recent completed round was a $2.6B strategic investment round in July 2019.
Argo AI funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2019 | Strategic investment | Volkswagen (lead) | $2.6B | $7B | Argo AI is a Pittsburgh-based autonomous vehicle technology platform company founded in 2016. In July 2019, Volkswagen Group announced a $2.6 billion investment in the company, consisting of $1 billion in cash funding plus the contribution of VW's $1.6 billion Autonomous Intelligent Driving (AID) division based in Munich. This investment valued Argo AI at more than $7 billion and established Ford and Volkswagen as equal partners in the company, with remaining equity reserved for employees. The deal expanded Argo AI's workforce by approximately 200 engineers from VW's Munich-based autonomous driving unit, bringing total headcount to over 700 employees. Argo AI positioned itself as the first self-driving company with definitive deployment plans in both the United States and Europe, leveraging technology development expertise from both automotive giants to accelerate autonomous vehicle commercialization. |
| Feb 2017 | Undisclosed stage | Ford (lead) | $1B | - | Argo AI, a new artificial intelligence company focused on developing the virtual driver system—the machine-learning software, sensors, compute platform, and high-definition maps for autonomous vehicles—was launched with Ford's $1 billion investment announced on February 10, 2017. Ford, the lead and majority investor, committed the funds over five years as part of its autonomous vehicle capital allocation plan, combining its virtual driver team with Argo AI's robotics expertise to accelerate SAE level 4 self-driving vehicle development. Ford retained leadership on hardware platform, systems integration, manufacturing, design, and regulatory policy. Argo AI was structured for substantial independence, with significant equity for employees and a board including Ford executives, Argo founders, and an independent director. The company planned to grow to over 200 team members by year-end 2017, based in Pittsburgh with sites in Michigan and the Bay Area. This investment positioned Ford to commercialize self-driving tech and potentially license it to others. |
Who has invested in Argo AI?
2 investors have backed Argo AI across its funding rounds, including Volkswagen and Ford.
Lead investors include Volkswagen and Ford.
Argo AI Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Start Free TrialAcquisitions by Argo AI
Argo AI has acquired 2 companies to date.
Last acquisition by Argo AI was on July 12th 2019. Argo AI acquired Autonomous Intelligent Driving for $1.6B.
Latest Acquisitions by Argo AI
| Description | Autonomous Intelligent Driving is a European developer of software solutions for fully autonomous urban driving. Founded in 2017, the company produces ready-to-deploy software stacks that enable Level 4 and Level 5 autonomy in complex city environments. Its platform handles perception, planning, and control using AI models trained on diverse urban datasets, including pedestrian-heavy areas and dynamic traffic. Distributed through partnerships with vehicle integrators, the solution supports retrofitting into existing fleets for robotaxi and delivery applications across European cities. | Princeton Lightwave is a developer of indium phosphide-based single-photon counting detectors and cameras for quantum technologies, lidar, and 3D sensing. Cranbury, New Jersey-based, it manufactures free-space and fiber-coupled avalanche photodiode arrays operating at 900-1700 nm wavelengths. The products enable secure communications, fluorescence lifetime imaging, and autonomous vehicle sensing for research institutions and defense contractors. |
| HQ Country | ||
| HQ City | Munich | Cranbury, NJ |
| Deal Date | 12 Jul 2019 | 27 Oct 2017 |
| Valuation | $1.6B | $53M |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Argo AI acquisitions and their M&A valuation multiples. Start Free Trial | ||
Argo AI Competitors
Argo AI competitors include listed companies like Aurora Innovation, Mobileye, Momenta Global and XPENG, and private ones like Didi Woya and Momenta.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $5B | - | ||
| Publicly listed | $3M | ($786M) | $13B | 1040.1x | ||
| Publicly listed | $1.9B | $140M | $6.8B | 2.7x | ||
| Publicly listed | $360M | ($502M) | $5B | - | ||
| Private | $76M | - | $5B | - | ||
| Publicly listed | $11B | $156M | $10B | 1.0x |
Argo AI Public Comps
Argo AI is still privately-owned, but its public comps include China Aerospace Times, Mobileye, Lyft, Momenta Global, Avic (Chengdu) Uas, Ondas, XPENG, Goto Gojek Tokopedia, Pony AI and Hesai Technology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.1B | $166M | 3.9x | 3.5x | 48.1x | - | |||
| $1.9B | $140M | 2.8x | 2.7x | 38.5x | 12.3x | |||
| $6.3B | $103M | 0.8x | 0.8x | 52.0x | 8.2x | |||
| $360M | ($502M) | 10.5x | - | (7.5x) | - | |||
| $450M | $19M | 8.6x | - | 202.0x | - | |||
| $51M | ($127M) | 57.8x | 7.4x | (23.0x) | (31.0x) | |||
| $11B | $156M | 1.1x | 1.0x | 80.6x | (74.9x) | |||
| $1B | ($16M) | 2.0x | 1.7x | (125.5x) | 13.1x | |||
This data is available for Pro users. Sign up to see all Argo AI competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Argo AI
| When was Argo AI founded? | Argo AI was founded in 2016. |
| Where is Argo AI headquartered? | Argo AI is headquartered in Pittsburgh, PA, United States. |
| Is Argo AI publicly listed? | No, Argo AI is a private, VC-backed company. |
| What is Argo AI's valuation? | Argo AI was last valued at $7B in its strategic investment round in July 2019. |
| How much funding has Argo AI raised? | Argo AI has raised $3.6B across 2 funding rounds. |
| What was Argo AI's last funding round? | Argo AI's last funding round was a $2.6B strategic investment round in July 2019, led by Volkswagen. |
| Who are Argo AI's investors? | Argo AI's investors include Volkswagen and Ford. |
| Which companies are comparable to Argo AI? | Companies comparable to Argo AI include Didi Woya, Aurora Innovation, Mobileye, Momenta Global, Momenta and XPENG. |
| How many companies has Argo AI acquired? | Argo AI has acquired 2 companies, including Autonomous Intelligent Driving and Princeton Lightwave. |
| What was the largest acquisition by Argo AI? | The $1.6B acquisition of Autonomous Intelligent Driving in July 2019 is the largest acquisition Argo AI has made to date. |
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