Mobileye Raises $400 Million With Plans to Develop Self-Driving Cars

Google isn't the only company working to bring self-driving cars to the market.

Mobileye, a Dutch firm that develops advanced driver assistance systems, announced Sunday that it has raised $400 million from several big name investment firms including Goldman Sachs and Morgan Stanley. The new funding is said to value the company at $1.5 billion.

SEE ALSO: This Is What Google's Self-Driving Car 'Sees' as It Makes a Turn

Mobileye, which was founded in 1999, markets its technology as a way to help reduce the number of traffic accidents, but the company is planning to expand into developing driverless cars — or mostly driverless cars, as the case may be. Read more...

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