Argo AI’s CEO says IPO expected within a year

Self-driving startup Argo AI, backed by Ford Motor Co. and Volkswagen AG, expects to pursue a public listing within the next year, founder and CEO Bryan Salesky said on Wednesday.

“So we’re actively fundraising and are going out this summer to raise a private round initially,” Salesky said at The Information‘s Autonomous Vehicles Summit. “And then we’re looking forward to an IPO within the next year.”

“The raise this year will definitely provide capital that gives us plenty of runway and will help us continue to scale out,” he said, adding that autonomous driving is a capital-intensive business.

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