Autonomous driving company Nuro announced a $500 million Series C funding round.
Apply world-class technology to improve people's everyday lives.
Nuro, a global leader in autonomous driving, announced a $500 million Series C round led by top-tier global investment firm T. Rowe Price Associates, Inc., with participation from multiple new and existing investors including Fidelity Management & Research Company, LLC, Baillie Gifford (a major Tesla institutional shareholder), SoftBank Vision Fund I, and Greylock. Following this round, the company will continue focusing on advancing its technology, product development, and commercial deployment.
To date, Nuro has raised over $1.5 billion in funding. Gaorong Ventures, NetEase founder William Ding, and ZhenFund previously participated in Nuro's Series A round.
Nuro designs and develops fully autonomous unmanned delivery vehicles. Its second-generation driverless delivery vehicle, the R2, supports the transportation of various items including takeout, fresh groceries, general merchandise, medication, and retail products — helping bring greater convenience and purchasing options to consumers, safer roads, and reduced CO2 emissions.
"Consumer demand for safe and affordable local delivery is undergoing an unprecedented shift," noted Jiajun Zhu, Nuro's CEO and co-founder. "This funding round allows us to work alongside more of the world's top investment institutions to continue applying world-class technology to improving people's daily lives."
Since completing its previous funding round in February 2019, Nuro has made significant progress across multiple fronts, including signing new retail partners to expand its delivery service coverage, obtaining special regulatory licenses from government agencies, and achieving meaningful technical milestones.
Nuro has announced partnerships with leading companies across various retail sectors, including Domino's, Walmart, and CVS. Currently, Nuro is providing grocery, pharmaceutical, and other essential goods delivery services to Houston communities through its partnerships with Kroger and CVS.
Earlier this year, the U.S. Department of Transportation (DOT) and the National Highway Traffic Safety Administration (NHTSA) approved Nuro's autonomous vehicles for the first and currently only federal government license of its kind. Additionally, Nuro became the first company permitted by the California Department of Motor Vehicles (DMV) to test fully driverless vehicles on public roads in California — with neither a driver nor passengers on board.
This year, Nuro also achieved a significant technical milestone by testing fully driverless R2 vehicles on public roads in cities across California, Texas, and Arizona — with no driver, no passengers, and no chase vehicles.
Video: Nuro's driverless vehicles on public roads across three U.S. states
This round, combined with previous funding, provides Nuro with stronger financial backing to continue developing technology it has cultivated over many years, and to advance its mission of accelerating how robotics can bring convenience to everyone's daily lives.
About Nuro
Nuro is a robotics company founded in Silicon Valley that focuses on autonomous vehicle goods delivery. The company develops and deploys driverless vehicles to transport everything from pizza to pharmaceuticals. Nuro's services help retailers deliver items to consumers faster, at lower cost, and more safely. The company is composed of world-renowned experts in robotics, artificial intelligence, computer vision, and product design. Nuro currently operates an active driverless delivery service in Houston, Texas, and has established partnerships with leading brands including CVS, Walmart, Domino's, and Kroger.
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