Argo AI

Argo AI uses artificial intelligence to make transportation safer, more accessible, affordable and convenient for users. The self-driving vehicle company, founded in 2017, tackles computer science, robotic and AI to engineer self-driving cars.

Argo AI is working with Ford Motor Company to bring self-driving vehicles to the United States. The company aim that by the year 2022 Ford’s self-driving vehicles, with fully integrated Argo technology, will be in commercial operation in multiple cities across the country. These vehicles will be used for ride hailing and delivery services.

In 2017 Argo AI acquired Princeton Lightwave, a manufacturing company that develops single-photon counting products based on indium phosphide. Argo AI uses LiDAR technology to develop their smart, self-driving cars. LiDAR technology uses sensors to create a three-dimensional view of the world that helps autonomous vehicles find where they are on the road and detect other vehicles, pedestrians and cyclists. Princeton Lightwave provides Argo AI with extensive experience in the development and commercialisation of LiDAR sensors.

In May 2020 the company closed a $2.6b investment from Volkswagen (VW), bringing the company valuation to $7.25bn. $1bn of the investment is in the form of capital, whilst the rest is the estimated value of Autonomous Intelligence Driving, VW's driverless subsidiary. VW and Ford hold equal minority stakes in the business, with the rest held by Argo employees.