Robotaxi Startup Glydways Raises $56 Million, East Bay Project Advances

A startup seeking to bring robotaxis to dedicated roads surrounding airports and transit hubs is inching closer to realizing its vision.

The startup, Glydways, has raised a $56 million Series B fundraising round, including about half of it from convertible debt that the notes holders are converting to equity. New Science Ventures led the round, while other investors include the ACS Group, a global construction company based in Spain; Gates Frontier, the venture arm of Microsoft co-founder Bill Gates; and Khosla Ventures. Glydways has raised a total of $70 million, including the latest round, since it was founded in 2016.

At the same time, Glydways said two local government agencies—the Contra Costa Transportation Authority and Tri Delta Transit—formally selected it to design a system that could bring its robotaxis to parts of Pittsburg, Antioch, Oakley and Brentwood, Calif., in the East Bay region of the San Francisco Bay Area. The startup is working on a similar effort to connect San Jose Mineta International Airport in California to Diridon Station, a major transportation hub in the Silicon Valley city of San Jose.