Ford Backs Self-driving Car Startup Autonomic

Ford Motors has made a strategic investment in Autonomic, a stealth Silicon Valley startup founded last summer, Axios has learned. According to an SEC filing (which does not mention Ford), Autonomic has raised nearly $11 million, but may add a bit more.

The company: Not much is known about what Autonomic is building, except that it’s working on software related to self-driving cars. That information came from Chamath Palihapitiya, a partner with VC firm Social Capital, who said on stage at a conference that his firm recently co-invested with Ford on a new company, although he did not identify Autonomic. Palihapitiya added that the deal was structured so that the automaker has been given the right to buy the company down the road. “And we’ll see if they’ll exercise that right,” said Palihapitiya.