Autonomous vehicle company Nuro has announced $600 million in a Series D funding round, according to a press release.
The new funding will go toward developing the autonomous delivery service in more areas around the U.S. and “addressing long-standing pain points and shifting consumer trends accelerated by COVID-19,” the release stated.
The round was led by Tiger Global Management, according to the release. Others participating included Baillie Gifford, Fidelity Management and Research Company, Gaorong Capital, Google, Kroger, SoftBank Vision Fund 1, funds and accounts advised by T. Rowe Price Associates, Woven Capita, and others.
“We’re thrilled to have the backing of these prominent investors and world class companies, and honored that they support our vision of improving communities and revitalizing local commerce,” said Nuro Co-Founder and President Dave Ferguson in the release. “We believe this investment will allow us to accelerate our commercialization strategy and better everyday life with Nuro’s technology.”
Nuro has also entered a five-year strategic partnership with Google Cloud, which will help it run more self-driving simulations, store data, improve accuracy and transform local commerce, the release stated.
Earlier this year, Nuro invested $40 million to develop facilities in southern Nevada, one being an end-of-line manufacturing facility and the other a closed-course test track. The idea is to scale production and help commercialize autonomous vehicles, according to the release.
Nuro has also rolled out a partnership with FedEx and has worked in pizza delivery with Domino’s in Houston, the release stated.
PYMNTS reported on Google’s investment in Nuro, writing that Ferguson said the investments are a plus and the company is “honored that they support our vision of improving communities and revitalizing local commerce.”
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