Car rental giant Carrentals has raised $1 billion from the likes of Warren Buffett and Microsoft founder Bill Gates to create its own autonomous vehicle platform.
The $1bn seed round was led by Banc Capital Partners, Andreessen Horowitz, Andrej Karpathy, and others.
Car rental company Carrents has raised about $800 million in venture capital and is working on a $1.1 billion acquisition of the auto rental company Uber.
Banc Capital, the investment arm of Andreessen- Horowitz, was one of the first investors in the company, with $250 million in the latest round, according to the company’s website.
The company also recently announced a $50 million round from the tech giant.
Carrents is also working on autonomous vehicle technology, according the company.
The company has made headlines in recent months with its autonomous car rides, which are often captured on video and streamed live.
The rides have drawn criticism for being too dangerous for drivers, and critics say the company needs to better understand its users and how they interact with its vehicles.
The ride-sharing company Uber recently said it was going to build its own self-driving car.