Nuro closes mega Series D funding round
Autonomous vehicle company Nuro has announced a $600 million round of funding led by Tiger Global Management.
This has pushed its valuation to around $8.6 billion, according to media reports.
There was also participation from Baillie Gifford, Fidelity Management & Research Company, Gaorong Capital, Google, Kroger, SoftBank Vision Fund 1, funds and accounts advised by T. Rowe Price Associates, Woven Capital, and other existing investors as part of the venture’s Series D funding round.
The cash will support the development and deployment of Nuro’s autonomous delivery service across the US.
“We’re thrilled to have the backing of these prominent investors and world class companies, and honoured that they support our vision of improving communities and revitalising local commerce,” says Dave Ferguson, Nuro Co-founder and President.
“We believe this investment will allow us to accelerate our commercialisation strategy and better everyday life with Nuro’s technology.”
“The arrival of ubiquitous on-demand e-commerce is changing the way we access goods. Demand for local deliveries is exploding. Nuro is the bridge to an era of sustainable, low cost, autonomous local delivery,” comments Griffin Schroeder, Partner at Tiger Global.
“We launched our partnership with Nuro in 2018 to explore grocery delivery through autonomous vehicles,” says Yael Cosset, Senior Vice President & Chief Information Officer at Kroger.
“Since then, Kroger and Nuro completed thousands of deliveries to our customers -- driving innovation that supports our expanding seamless ecosystem by creating consistent and rewarding customer experiences with scalable, sustainable, and profitable solutions.”
