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The deal with Reinvent Technology Partners Y will include a private placement of $1-billion from investors such as Baillie Gifford, Canada Pension Plan Investment Board, Index Ventures, Sequoia Capital, Uber Technologies Inc and Volvo Group, Aurora said on Thursday. Aurora expects to launch first in trucking, a $700-billion market with attractive unit economics, in late 2023 and also expand into adjacent verticals including last-mile delivery and ride-hailing.
Reinvent, a special purpose acquisition company led by Zynga Inc co-founder Pincus and LinkedIn co-founder Hoffman, raised $850-million through an initial public offering in March.
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