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Argo AI is a leading self-driving technology platform company based in Pittsburgh, Pennsylvania. Founded in 2016 by seasoned robotics professionals, Argo AI has registered strong growth over the years. It is now counted among the top companies involved in developing self-driving technology.
As the future of mobility will be self-driving cars, most of the top auto companies such as Tesla, BMW, Audi, General Motors (GM), Honda, Toyota, Hyundai and others are developing their own self-driving systems. Top technology companies such as Google, Amazon, Apple, Baidu, Bosch, Cisco, Huawei, etc. are also aggressively pursuing this space.
The company that will perfect self-driving tech will have significant advantages in future mobility market. Argo AI is backed by Ford and Volkswagen.
History:
The idea for Argo AI came to founders Bryan Salesky and Peter Rander, when they realized the significant transformations that can be achieved with self-driving vehicles. The founders realized that driving in cities can be a lot safer and stress-free experience with self-driving tech. As they already had extensive knowledge in robotics and autonomous tech, the founders decided to launch their own company. Their primary mission was to develop a self-driving tech that would not altogether replace manual driving, but work as an effective option in case the user needs it. Argo AI’s self-driving tech is currently being tested on public roads in six US cities – Pittsburgh, Washington, D.C., Miami, Detroit, Palo Alto and Austin.
Funding:
Argo AI has received investments worth USD 3.6 billion through two rounds of funding. Ford Motor Company invested USD 1 billion in 2017 whereas Volkswagen Group invested USD 2.6 billion in 2019. As of June 2020, the company was valued at USD 7.25 billion.
Acquisitions:
Argo AI had acquired Princeton Lightwave in 2017. Princeton Lightwave was a leading manufacturer of high-tech products such as lasers and sensors used in self-driving cars. The acquisition helped Argo AI to strengthen its capabilities in self-driving tech.
Competitors:
Argo AI competes with other self-driving car tech firms such as Cruise LLC, Waymo, Aurora, Optimus Ride, AImotive, Zoox, May Mobility, and Nuro.
About the Founders:
A computer engineering graduate from the University of Pittsburgh, Bryan Salesky currently serves as the Chief Executive Officer at Argo AI. Bryan is passionate about using robotics to boost productivity and make things easier for people. Prior to launching Argo AI, Bryan had worked at Carnegie Mellon University’s National Robotics Engineering Center (NREC) and Google. Co-founder Peter Rander also has extensive experience in robotics technology and he currently serves as the President of Argo AI. Peter completed his electrical engineering from University of Detroit-Mercy and his masters and Ph.D. from Carnegie Mellon University.
