Robocar Startup Tensor Is Said to Seek New Funds Before US IPO

Tensor Auto Inc., a startup that develops autonomous vehicles, is considering raising several hundreds million dollars ahead of a potential initial public offering in the US, according to people familiar with the matter.

The San Jose, California-based company is working with Royal Bank of Canada on the fundraising and has started sounding out perspective investors, said the people, who asked not to be identified as information is private. The company could seek $300 million to $400 million, one of the people said.