MOUNTAIN VIEW — Nuro, maker of self-driving delivery vehicles, has landed a $500 million Series C round of funding, led by funds and accounts advised by T. Rowe Price Associates, Inc., with participation from new investors including Fidelity Management & Research Company, LLC. and Baillie Gifford. The round also includes existing investors such as SoftBank Vision Fund 1 and Greylock.
The company designs and engineers electric self-driving road vehicles that transport goods instead of people. Nuro built its second generation vehicle, R2, to autonomously deliver a wide range of goods – prepared food, groceries, medicine, and retail products – safely and securely.
Nuro is actively making public AV deliveries in the Houston area, and has partnerships with leading brands such as CVS, Walmart, Domino’s, and Kroger.
“We are witnessing an unprecedented shift in consumer demand for safe and affordable local delivery services,” said Jiajun Zhu, CEO and Co-founder of Nuro. “This funding, which brings us together with many of the world’s top investors, positions Nuro confidently toward a future where our world-class technology is adopted into people’s everyday lives.”
This fundraising round comes on the heels of multiple significant advancements since Nuro last raised $940 million in February 2019 for its Series B round. These include the first and only federal exemption for an autonomous vehicle granted by the U.S. Department of Transportation (DOT) and National Highway Traffic Safety Administration (NHTSA); expanding its partnerships with some of the world’s most respected household brands, including Domino’s, Walmart, Kroger and CVS; and achieving a first of its kind milestone, operating R2 fully autonomously on public roads in three different states – California, Texas, and Arizona – with no drivers, no occupants, and no chase cars.