Zoox Labs, a two-year-old Silicon Valley company that like Alphabet and Apple is developing a self-driving car from the ground up, has scored another $50 million in funding, bringing its total to $240 million, according to published reports.

The latest round of funding for the Menlo Park, Calif., startup raises its market value to a staggering $1.55 billion, according to the Wall Street Journal, even before it has put a single vehicle on the road.

Zoox, which is currently in “stealth” mode, reportedly to keep competitors from learning what it’s doing, has attracted high-profile executives from Alphabet, Apple and Tesla Motors who joined the company to help develop its vehicle.

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