Self-Driving Car Project of George Hotz receives $3.1 Million Investment

George Hotz was the very first individual to jailbreak an iPhone as a 17-year in 2007– started a wild, unlikely experiment into artificial intelligence and self-driving vehicles in 2015 out of a San Francisco garage. That experiment is rapidly developing into a genuine business.

It was reported last month that Hotz is getting money from big name financial backing firm Andreessen Horowitz. On Sunday, Andreessen Horowitz partner Chris Dixon verified the financial investment in a blog post, stating his firm is leading a $3.1 million round in The financial investment values the tiny business at $23.1 million in post-money valuation, stated Hotz.

Hotz got notoriety in December when Bloomberg Businessweek reported on his strategy to handle competitors like Google and Tesla.

Hotz is planning on launching an after-market kit that presents advanced driver-assistance systems (ADAS) features– lane-keeping support and emergency breaking– into brand-new cars. Hotz assures it will be better than anything else out there. Hotz’s prime competition is Tesla, who has a few of the most advanced ADAS features in a present vehicle for sale and utilizes Israeli-based firm Mobileye for the function.

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