Nvidia is one of the new investors groups supporting Nuro, which develops self-driving software for delivery and riding services in a $203 million funding round.
The Silicon Valley startup announced Thursday that several investors, including existing backer Baillie Gifford, have added another $97 million to the Series E round. New investors include Icehouse Ventures, Kindred Ventures, Nvidia and Pledge Ventures. Last month, Uber also joined, saying it would invest “hundreds of millions of dollars” in Nuro as part of a wide range of deals with electric car maker Lucid.
Nvidia’s investment follows years of technical collaboration with Nuro. The startup uses NVIDIA GPUs for large-scale data processing and model training, and the latest computing models are built on the NVIDIA drive AGX Thor platform.
The first $106 million tranche of Series E was announced in April. Investment accounts advised by T. Rowe Price Associates, Fidelity Management & Research Company, Tiger Global Management, GreyLock Partners and XN joined their first block.
Nuro has raised $2.3 billion so far. Its series E-postmoney rating is $6 billion. This is down 30% from the valuation of $8.6 billion in 2021, when Nuro raised $600 million in the Series D round.
There have been a lot of changes over the past four years for Nuro and the wider self-driving car industry. Like most startups in the early self-driving vehicle technology sector, Nuro was forced to investigate its business model after the economic situation cut off one free flowing capital tap and derives a period of integration.
Nuro overhauled its business strategy after several layoffs in 2022 and 2023. In 2024, Nuro plans to own and operate a fleet of slow, on-road delivery bots, focusing instead on licensing the technology to automakers and mobility providers, such as ride companies and delivery companies.
TechCrunch Events
San Francisco
|
October 27th-29th, 2025
The pivot appeared to gain traction. In particular, in July, Uber announced plans to launch Robotaxi services using an all-electric Lucid Gravity SUV equipped with Nuro’s autonomous driving technology. Under the deal, Uber has agreed to invest $300 million in Lucid and “at least” and “at least” purchase EV Maker’s gravity SUV over the next six years.
Uber also said it would invest a private “least millions of dollars” into Nuro. One source familiar with the contract told TechCrunch that the amount exceeds Uber’s investment in Lucid.
Some of Uber’s investments are directed towards the Series E round. The remaining investments will be categorized as Nuro when the company hits a specific milestone.
Nuro co-founder and president Dave Ferguson said in a statement that the company is well positioned to continue the next phase of growth with new capital. He added that the company, which employs around 700 people, will provide global autonomy, focusing on providing new commercial partnerships.
Source link
