“We’ve made tremendous progress towards this goal, moving countless senior citizens (some as old as 92!) around their communities,” Cameron said. “Now at Cruise, we are thrilled to have the substantial resources to eventually serve not just senior citizens but every possible demographic who stands to benefit from self-driving services.”

The deal marks ongoing consolidation in the autonomous vehicle market as some companies surge ahead of others in bringing the technology to market. In one of the largest such deals, Uber Technologies Inc. sold its self-driving car unit, formally known as the Advanced Technologies Group, to Amazon.com Inc.-backed autonomous vehicle startup Aurora Innovation Inc. in December for a price reported to be $4 billion.

Cruise, which started as a project at GM, was spun out as a separate company and raised more than $2 billion from investors including Microsoft Corp., Honda Motor Co. Ltd. and others in January.

Alongside industry leader Waymo LLC, Cruise has been near the forefront of successful development of autonomous vehicle technology although it is arguably a few years behind the company formerly known as the Google Car Project. Cruise had planned to launch an autonomous taxi service in 2019 but was forced to delay those plans. The company also debuted a self-driving van with no steering wheel or pedals in January 2020.

Prior to its acquisition, Voyage had raised $52 million in venture capital funding from investors including Franklin Templeton, Khosla Ventures, Jaguar Land Rover’s InMotion Ventures, Chevron Technology Ventures, CRV and Amino Capital.