How technology is changing the world

Jumia Technologies, which manufactures sensors and software for electric vehicles, has raised $25 million in a Series B round led by Sequoia Capital, the Palo Alto, Calif.-based venture capital firm that led the round.

The company said it will raise another $20 million from private equity firm Silver Lake Partners.

The fund has also backed Tesla’s $1.4 billion acquisition of SolarCity.

Read MoreJumia has raised funding from Google Ventures, Sequoias and other investors.

The firm will be able to use the money to build out a manufacturing facility in China.

Jumias products are being used by many automakers and other automakers, including Mercedes-Benz, Honda and Ford.

The U.S. Department of Energy says the number of vehicles produced with self-driving technology has risen by 100 percent over the past three years.

“We believe our technology is the future of transportation and the next generation of vehicles,” Jumias chief executive, Peter Hirsch, said in a statement.

The company has also worked with automakers on self-parking and other safety systems.

Toyota has a self-drive version of its Prius hybrid, the FJ Cruiser, and BMW is planning a version of the i3, the company’s all-electric vehicle.

Jumiacs product is being used in a prototype in China, where it is being tested in the field.

Jumiac says it has a 20 percent share of the global auto market.

Its main competitors include Tesla, Mercedes-BMW, Ford and GM.

Jusiches sales are up 5 percent this year compared to 2016.


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