Cruise to raise $1.35 bln from SoftBank as it readies robotaxis

Self-driving tech firm Cruise on Tuesday said SoftBank Group Corp’s (9984.T) Vision Fund has agreed to invest an additional $1.35 billion through a second tranche, as it works to launch a commercial ride-hailing service in San Francisco.

Cruise, majority owned by General Motors (GM.N), has strong financial support from its investors including Honda and Microsoft and is not planning to raise more funds from the capital markets in the near term, GM chief executive Mary Barra said.