Self-Driving Car Company Nuro Bags $600 Million in D Round Financing, Led By Tiger Global Management
Autonomous delivery unicorn Nuro announced on Tuesday the completion of its D-round of financing worth $600 million, led by Tiger Global Management, with Baillie Gifford, Fidelity Management & Research Company, LLC, Gaorong Capital, Google, Kroger, Softbank Vision Fund, T. Rowe Price Associates, and other previous shareholders participating in the investment.
This round of financing will support the development of self-driving delivery service in the US, and will help Nuro to further its efforts to commercialize unmanned self-driving delivery vehicles.
“Kroger established a partnership with Nuro in 2018 to explore goods distribution services based on automated driving cars,” Yael Cosset, senior VP and chief information officer of Kroger, said. “Since then, Kroger and Nuro have completed thousands of delivery orders for our consumers.”
Nuro has also reached a five-year strategic partnership with Google Cloud to meet the large-scale and large-capacity requirements of cloud services for running self-driving simulation workloads, so as to improve machine learning for model accuracy and to manage critical data used by delivery vehicles. Based on the new partnership, Nuro and Google will also explore opportunities to influence local businesses together.
The latest round of financing will allow the company to further expand its team, carry out solutions on a larger scale and expedite the progress of its technology. Recently, Nuro also announced a long-term partnership with FedEx and piloted pizza delivery service with Domino’s in Houston.
In August this year, Nuro announced an investment of $40 million to build two new bases in southern Nevada – an unmanned vehicle production and assembly base and a world-class closed test site, so as to realize the commercialization and large-scale production of the company’s third-generation automated driving vehicles.
Nuro is committed to improving people’s daily life through robots. The electric automated driving car R&D by the company is used to deliver many required items to consumers’ homes. Nuro has piloted automated local delivery services in communities in Texas, Arizona and California.
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