Aurora Innovation Inc. is showing no signs of slowing down before it crosses the finish line to becoming a public company. The Pittsburgh-based startup unveiled the beta version of its Aurora Driver, the company's flagship product that combines data captured from cameras, lidar and other sensors into a perception system that's capable of autonomously controlling and driving vehicles.
The beta product's launch is a culmination of years of research and product development for the 1,600-person company, the majority of whom reside in Pittsburgh, that was founded in 2016 by three autonomous vehicle industry executives from different organizations; its CEO Chris Urmson, Chief Product Officer Sterling Anderson and Chief Technology Officer Drew Bagnell.
Aurora said the beta product is already being deployed in Texas on a 30-mile section of highway, itself part of a larger 400-mile freight corridor, as part of its previously announced commercial pilot partnership with FedEx Corp. (NYSE: FDX) and Washington-based truck manufacturer Paccar Inc. (NASDAQ: PCAR).
Video caption: A hyper-lapse video of the Aurora Driver Beta in action along a 30-mile section of highway in Texas.
"We’re moving quickly toward our commercial launch and our beta release marks an important milestone," Aurora said in a statement. "It’s a demonstration of our autonomous driving capabilities, a confirmation of our Driver-as-a-Service business model, the manifestation of years of hard work, and the foundation for future versions of our products in the coming years."
The Aurora Driver Beta is offered through the FedEx and Paccar partnership as part of the company's Aurora Horizon subscription product, which the company unveiled earlier this month alongside its Aurora Connect subscription service for ride-hailing companies. It expects to launch each subscription service product commercially in 2023 and 2024, respectively.
The news of the beta product release comes exactly one week before the company anticipates being listed publicly on the Nasdaq stock exchange. Current shareholders of the company will vote on Nov. 3 to merge with Reinvent Technology Partners Y (RTPY), a special purpose acquisition company (SPAC) led by LinkedIn co-founder Reid Hoffman and Zynga founder Mark Pincus. If the vote is successful, Aurora will begin trading under the ticker AUR at the market open on Nov. 4.
