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Autonomous delivery firm Nuro announced that the company has raised $600 million in a Series D fundraising round led by new investor Tiger Global Management. Joining the round was Baillie Gifford, Fidelity Management & Research Company, Gaorong Capital, Kroger, SoftBank Vision Fund 1, and others. Google also joined the round as a first time NURO investor.
According to Nuro officials, the $600 million financing round will be used to support the development and deployment of Nuro’s autonomous delivery service in communities across the US. The funds will also be used to scale the production of Nuro’s 3rd generation, low-speed, electric self-driving vehicles at the company’s new manufacturing facility in Nevada.
According to Nuro officials, self-driving vehicles generate vast amounts of data which must be stored, managed and utilized for machine learning and to run self-driving simulations. To address this requirement, Nuro also announced that the company has signed a five-year strategic partnership with Google Cloud.
$21 Billion in Funding
To date, Nuro has raised a total of $2.1B in funding over six rounds. The company received $92 million of Series A funding in June 2017, which was followed two years later with a $940 Series B funding from the SoftBank Vision Fund. Nuro received two rounds of Series C funding in 2020 and 2021.
Partners and Pilots
Nuro has multi-year partnerships with several high-profile companies in a variety of markets including CVS (pharmacies), Domino’s, FedEx, Kroger (grocery stores), Chipotle and Walmart. The company has launched or completed pilot projects with its partners for local, autonomous local delivery in Texas, Arizona, and California.
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