Total amount raised
$2.1 Billion
Latest funding date
4/1/2024
Location
Nuro has successfully raised significant funding over 10 rounds, with notable investments from Pledge Ventures and Kindred Ventures. The company has also secured a $106 million raise and a $203 million funding round backed by Nvidia.
Keep reading to explore the intricacies of Nuro's fundraising journey and the investors backing this innovative platform.
What Is Nuro?
Nuro, based in Mountain View, California, is a private company specializing in robotics and autonomous driving technologies. The company operates in industries such as Artificial Intelligence, Autonomous Vehicles, Robotics, and Transportation. With an employee count ranging from 501 to 1000, Nuro has made significant strides in the field of autonomous vehicle technology.
Initially focused on delivery robots, Nuro has shifted its focus to licensing its autonomy technology for various applications, including robotaxis and personally owned autonomous vehicles. Their flagship product, the Nuro Driver™, is an AI-first self-driving system validated with over 1.7 million autonomous miles. The company collaborates with major firms like Uber and Lucid to bring their technology to market.
How Much Funding Has Nuro Raised?
- Series A
- Amount Raised: USD 92,000,000
- Date: January 2018
- Lead Investors: Gaorong Capital, Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and commercialize autonomous delivery technology.
- Series B
- Amount Raised: USD 940,000,000
- Date: February 2019
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and further develop autonomous delivery vehicles.
- Series C
- Amount Raised: USD 500,000,000
- Date: November 2020
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and further develop autonomous delivery technology.
- Series D
- Amount Raised: USD 600,000,000
- Date: November 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: USD 8,600,000,000
- Motivation Behind the Round: To accelerate the commercialization of autonomous delivery services and support the development and deployment of these services across the country.
- Non-Equity Assistance
- Date: February 2024
- Lead Investors: Disney Accelerator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage strategic partnerships for technological advancements.
- Secondary Market
- Date: April 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Series E
- Amount Raised: USD 106,000,000
- Date: April 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance technological capabilities.
- Series E
- Amount Raised: USD 97,000,000
- Date: August 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and commercialize autonomous driving technologies.
Total Amount Raised: USD 2,935,000,000. Current Valuation: USD 8,600,000,000.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the technology sector. The firm is known for its aggressive investment strategy and significant stakes in high-growth companies.
- Investment Focus Areas: Technology, consumer, industrial sectors.
- Notable Investments: Facebook, LinkedIn, Spotify, Stripe.
- Alphabet Inc.'s Google
- Details: Google, a subsidiary of Alphabet Inc., is a multinational technology company specializing in Internet-related services and products. It has a strong focus on innovation and has invested heavily in artificial intelligence and autonomous vehicles.
- Investment Focus Areas: Technology, artificial intelligence, cloud computing, autonomous vehicles.
- Notable Investments: Waymo, DeepMind, Verily.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund managed by SoftBank Group, focusing on technology-driven companies. The fund is one of the largest of its kind and has made significant investments in various tech sectors.
- Investment Focus Areas: Technology, artificial intelligence, robotics, telecommunications.
- Notable Investments: Uber, WeWork, Arm Holdings.
- Kroger Co.
- Details: Kroger Co. is one of the largest supermarket chains in the United States, involved in retail and grocery delivery services. The company has been investing in technology to enhance its supply chain and customer experience.
- Investment Focus Areas: Retail, grocery, logistics.
- Notable Investments: Ocado, Home Chef, Vitacost.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm that offers mutual funds, subadvisory services, and separate account management for individual and institutional investors. The firm is known for its disciplined investment approach.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Nuro?
Nuro's future is brimming with opportunities, driven by its strategic partnerships and technological advancements. The company is poised to optimize delivery processes for retailers and expand its autonomous delivery services across various U.S. cities. With a $600 million funding round and a valuation of $8.6 billion, Nuro is well-positioned to scale its operations and enhance its technology, supported by major investors like Google, Toyota, and SoftBank.
Future fundraising opportunities appear promising as Nuro continues to develop and commercialize its technology. The involvement of prominent investors suggests potential for additional funding rounds, which could further bolster Nuro's market presence and technological capabilities. However, the company may face challenges such as regulatory hurdles, high development costs, and competition from other self-driving startups. Navigating these obstacles will be crucial for Nuro's sustained growth and success in the autonomous delivery industry.
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