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- Uber (Advanced Technologies Group unit)
Uber (Advanced Technologies Group unit) Acquisition, Valuation, Funding & Investors
Uber (Advanced Technologies Group unit) was acquired by Aurora Innovation for $4B in December 2020.
Uber (Advanced Technologies Group unit) acquisition price
$4B
Acquired by Aurora Innovation · Dec 2020
Cumulative funding Uber (Advanced Technologies Group unit) raised
$1B
across 1 funding round
Key investors in Uber (Advanced Technologies Group unit)
About Uber (Advanced Technologies Group unit)
Uber Advanced Technologies Group is a Pittsburgh-headquartered unit of Uber developing autonomous vehicle technology. It focuses on self-driving software for passenger transport, deploying test fleets in Phoenix, San Francisco, and Pittsburgh. Uber ATG uses LiDAR, radar, and cameras for Level 4 autonomy, partnering with Toyota and NVIDIA for hardware. The group publishes AV research papers and operates mapping services. Formed in 2016, it aims for commercial robotaxi deployment.
Founded
2015
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Licensing
Valuation
$7.3B (Apr 2019)
Uber (Advanced Technologies Group unit) Acquisition
Uber (Advanced Technologies Group unit) was acquired by Aurora Innovation for $4B on 7 December 2020.
Before the acquisition Uber (Advanced Technologies Group unit) had raised $1B across 1 funding round.
Uber's Advanced Technologies Group (ATG) was a self-driving car division that had been valued at $7.25 billion following a major investment from Toyota, SoftBank, and others in 2019. However, the autonomous vehicle unit had struggled financially, losing over $300 million in 2020 alone as part of Uber's broader technology programs. Aurora Innovation, a autonomous vehicle startup founded in 2017 and backed by Sequoia Capital and Amazon, agreed to acquire Uber's ATG division in December 2020. The transaction was structured as a non-cash deal in which Uber handed over its equity stake in ATG (which represented 86.2% ownership on a fully diluted basis) to Aurora. Additionally, Uber invested $400 million into Aurora to secure a 26% stake in the combined company. ATG's 1,200-person workforce transferred to Aurora, tripling its headcount from approximately 600 employees. The combined entity was valued at $10 billion, with Uber CEO Dara Khosrowshahi joining Aurora's board and committing to commercialize self-driving vehicles on Uber's ridesharing network. This acquisition allowed Uber to exit the capital-intensive autonomous vehicle business while maintaining strategic influence through its substantial equity stake and board representation. Aurora positioned the deal as a way to accelerate development of its autonomous vehicle technology platform (the Aurora Driver) by combining it with ATG's advanced team and technology assets, with an initial focus on autonomous trucking before expanding into passenger mobility through the Uber partnership.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 7 Dec 2020 | Strategic M&A | $4B |
Uber (Advanced Technologies Group unit) Valuation
Uber (Advanced Technologies Group unit) is currently valued at $7.3B, based on its strategic investment round in April 2019.
The $1B round was led by Denso, SoftBank Group and Toyota.
Uber (Advanced Technologies Group unit) valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2019 | Strategic investment | $7.3B |
Uber (Advanced Technologies Group unit) Funding History
Uber (Advanced Technologies Group unit) has raised a total of $1B across 1 funding round.
Uber (Advanced Technologies Group unit) funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2019 | Strategic investment | Denso (lead); SoftBank Group (lead); Toyota (lead) | $1B | $7.3B | Uber's Advanced Technologies Group (Uber ATG) is the company's autonomous vehicle division focused on developing self-driving technology and sensors for ridesharing applications. In April 2019, Uber ATG secured $1 billion in funding from three corporate investors: Toyota and DENSO Corporation jointly contributed $667 million, while SoftBank Vision Fund invested $333 million. The investment valued Uber ATG at $7.25 billion on a post-money basis and resulted in the formal spinoff of ATG into a separate corporate entity. The collaboration aimed to accelerate development and commercialization of automated ridesharing services, with Toyota and Uber planning to deploy autonomous Toyota Sienna-based vehicles on Uber's network by 2021. The transaction closed in Q3 2019 after receiving CFIUS clearance. |
Who has invested in Uber (Advanced Technologies Group unit)?
3 investors have backed Uber (Advanced Technologies Group unit) across its funding rounds, including SoftBank Group, Toyota and Denso.
Lead investors include Denso, SoftBank Group and Toyota.
Uber (Advanced Technologies Group unit) Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Apr 2019 | ||
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Start Free TrialUber (Advanced Technologies Group unit) Competitors
Uber (Advanced Technologies Group unit) competitors include listed companies like Aurora Innovation and Momenta Global, and private ones like Didi Woya, Argo AI, Hong Jing Drive and Momenta.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $5B | - | ||
| Private | - | - | $7B | - | ||
| Publicly listed | $3M | ($786M) | $13B | 1040.1x | ||
| Private | - | - | $4.3B | - | ||
| Private | $76M | - | $5B | - | ||
| Publicly listed | $360M | ($502M) | $5B | - |
Uber (Advanced Technologies Group unit) Public Comps
Uber (Advanced Technologies Group unit) is no longer listed, but its public comps include Ondas, Avic (Chengdu) Uas, Goto Gojek Tokopedia, Momenta Global, Pony AI, Hesai Technology, Via Transportation, Lyft, Lime and WeRide.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $51M | ($127M) | 57.8x | 7.4x | (23.0x) | (31.0x) | |||
| $450M | $19M | 8.6x | - | 202.0x | - | |||
| $1B | ($16M) | 2.0x | 1.7x | (125.5x) | 13.1x | |||
| $360M | ($502M) | 10.5x | - | (7.5x) | - | |||
| $90M | ($71M) | 21.1x | 14.1x | (26.9x) | (7.9x) | |||
| $451M | $71M | 4.0x | 3.1x | 25.3x | 24.0x | |||
| $434M | ($83M) | 4.5x | 3.8x | (23.4x) | (113.3x) | |||
| $6.3B | $103M | 0.8x | 0.8x | 52.0x | 8.2x | |||
This data is available for Pro users. Sign up to see all Uber (Advanced Technologies Group unit) competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Uber (Advanced Technologies Group unit)
| When was Uber (Advanced Technologies Group unit) founded? | Uber (Advanced Technologies Group unit) was founded in 2015. |
| Where is Uber (Advanced Technologies Group unit) headquartered? | Uber (Advanced Technologies Group unit) is headquartered in Pittsburgh, PA, United States. |
| Is Uber (Advanced Technologies Group unit) publicly listed? | No, Uber (Advanced Technologies Group unit) was acquired by Aurora Innovation in December 2020. |
| Who acquired Uber (Advanced Technologies Group unit)? | Uber (Advanced Technologies Group unit) was acquired by Aurora Innovation in December 2020. |
| How much was Uber (Advanced Technologies Group unit) acquired for? | Uber (Advanced Technologies Group unit) was acquired for $4B in December 2020. |
| What is Uber (Advanced Technologies Group unit)'s valuation? | Uber (Advanced Technologies Group unit) was last valued at $7.3B in its strategic investment round in April 2019. |
| How much funding has Uber (Advanced Technologies Group unit) raised? | Uber (Advanced Technologies Group unit) has raised $1B across 1 funding round. |
| What was Uber (Advanced Technologies Group unit)'s last funding round? | Uber (Advanced Technologies Group unit)'s last funding round was a $1B strategic investment round in April 2019, led by Denso, SoftBank Group and Toyota. |
| Who are Uber (Advanced Technologies Group unit)'s investors? | Uber (Advanced Technologies Group unit)'s investors include SoftBank Group, Toyota and Denso. |
| Which companies are comparable to Uber (Advanced Technologies Group unit)? | Companies comparable to Uber (Advanced Technologies Group unit) include Didi Woya, Argo AI, Aurora Innovation, Hong Jing Drive, Momenta and Momenta Global. |
See companies similar to Uber (Advanced Technologies Group unit)
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