---
title: "Self-Driving Car Startup Optimus Ride Gets $18 Million for the Race to a Driverless Road"
description: "The Boston-based company was approved earlier this summer to begin testing its highly autonomous vehicles on Massachusetts roads."
date: "2017-11-02"
modified: "2017-11-02"
authors:
  - name: "Brian Beers"
    link: "https://www.thedrive.com/authors/brian-beers"
url: "https://www.thedrive.com/article/15687/self-driving-car-startup-optimus-ride-gets-18-million-for-the-race-to-a-driverless-road"
categories:
  - "News"
tags:
  - "autonomous vehicles"
  - "Boston"
  - "driverless cars"
  - "Optimus Ride"
  - "venture capital"
  - "Waymo"
---

# Self-Driving Car Startup Optimus Ride Gets $18 Million for the Race to a Driverless Road

![](<https://www.thedrive.com/wp-content/uploads/images-by-url-td/content/2017/11/optimus-ride-cars.jpg>)
*\<em\>www.thedrive.com</em>*

A self-driving auto technology company named [Optimus Ride](<https://optimusride.com/>) has secured a fresh $18 million in funding from a group of venture capitalists led by Greycroft Partners to immediately grow its vehicle fleet and make strategic hires.

The startup, a spin-off from the Massachusetts Institute of Technology is designing a vehicle with Level 4 autonomous technology for electric vehicle fleets.

"Autonomy is currently revolutionizing the transportation industry," said John Elton, Partner at Greycroft in a news release. "The changes will impact not only transportation users’ free time, but the broader world with a safer, more environmentally friendly and inclusive transportation system."

![message-editor%2F1509643924162-optimusride-2.jpg](<https://www.thedrive.com/wp-content/uploads/message-editor/1509643924162-optimusride-2.jpg>)
**Optimus Ride**

A recent study by Strategy Analytics estimates the global passenger economy for self-driving vehicles to be around $7 trillion per year by 2050.

Back in June, the company received approval from the Massachusetts Department of Transportation to [test its driverless vehicles on a nearly three-mile stretch of public roads](<https://www.bostonglobe.com/business/2017/06/12/officials-approve-another-self-driving-car-company-test-seaport/HEBBU5lURa6qh3LKHCP0pJ/story.html>) in the city of Boston.

https://youtube.com/embed/wc9gGRAK0WQ

Google's self-driving car spinoff, Waymo, [showed off its own driverless technology to reporters](<https://www.theverge.com/2017/10/31/16579180/waymo-self-driving-test-facility-castle-google>) on Monday at its California testing facility.

But are consumers ready for their driverless future? [According to a recent MIT study](<https://agelab.mit.edu/sites/default/files/MIT%20-%20NEMPA%20White%20Paper%20FINAL.pdf>), 48 percent of respondents said they would NEVER purchase a car that completely drives itself.

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