Argo AI’s CEO says IPO anticipated inside of a 12 months

Self-driving startup Argo AI, sponsored by way of Ford Motor Co. and Volkswagen AG, expects to pursue a public list inside the subsequent 12 months, founder and CEO Bryan Salesky mentioned on Wednesday.

“So we are actively fundraising and are going out this summer time to lift a non-public spherical to begin with,” Salesky mentioned at The Knowledge‘s Self sufficient Cars Summit. “After which we are taking a look ahead to an IPO inside the subsequent 12 months.”

“The lift this 12 months will surely supply capital that provides us quite a few runway and can assist us proceed to scale out,” he mentioned, including that self reliant riding is a capital-intensive trade.