SoftBank invests over $900 million in Nuro’s robo-delivery service

Nuro's self driving vehicle

Nuro, the robotics company transforming local commerce has announced that it has raised $940 million from the SoftBank Vision Fund. To date, Nuro has raised more than $1 billion from partners including SoftBank, Greylock Partners and Gaorong Capital.


Nuro is making local delivery fast and affordable with its self-driving service. The service uses Nuro’s custom unmanned road vehicle to run errands of all kinds – from picking up groceries to delivering dinner. Nuro strives to create a world where everything can be delivered affordably and on-demand.

ALSO READ: Meditation app Calm raises $88 million in Series B led by TPG Growth

“We’ve spent the last two and a half years building an amazing team, launching our first unmanned service, working with incredible partners and creating technology to fundamentally improve our daily lives,” Nuro co-founder, Dave Ferguson said in a statement. “This partnership gives us the opportunity to take the next step in realizing our vision for local commerce and the broad application of our technology.”

In 2018, Nuro introduced its custom unmanned vehicle, secured a national partnership with Kroger to do grocery delivery, licensed its self-driving technology to autonomous trucking company Ike, and launched the first-ever unmanned delivery service available to the general public in Arizona.

ALSO READ: Locked in a battle with foodtech startups, Zomato raises Rs 280 crore

“Nuro’s world-class team has successfully scaled their self-driving technology out of the lab and into the streets,” said Michael Ronen, Managing Partner, SoftBank Investment Advisers. “In just two years Dave, Jiajun and team have developed Nuro from a concept into a real business using robotics to connect retailers to customers.”

Nuro will use this new financing to expand its delivery service to new geographies, add new partners, scale its fleet, extend and mature its general self-driving technology, and significantly grow its team. The investment is subject to customary closing conditions, including receipt of applicable regulatory approvals.

Click here for Latest News updates and viral videos on our AI-powered smart news

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here