Venture Capitalist Funding for Auto-Tech Startups Reached $1 billion in 2016

According to research firm CB Insights, as reported by Sentinel Source, venture funding for auto-tech startups topped $1 billion in 2016. Venture capitalists are interested in the idea of using technology to enhance the ride experience. The main venture capitalists include Silicon Valley’s New Enterprise Associates, World Innovation Lab, Eileses Capital and Qualcomm’s, as well as JPMorgan Chase’s asset management group.

The auto industry is being disrupted by the emergence of electric cars, self-driving cars, and ride-sharing/ride-hailing apps.

The world is eager to see what major development comes next. When do you think we’ll witness the use of a self-driving vehicle?

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