Autonomous 600m Series Tiger Global 8.6b:

Autonomous delivery startup Nuro has recently announced a new round of financing led by Tiger Global Management, with participation from Baillie Gifford, Fidelity Management & Research Company, and SoftBank Vision Fund 1, among others. The funding round raised $600 million, which Nuro plans to use to ramp up its commercial operations [1]. The latest funding round has lifted Nuro’s valuation to $8.6 billion from $5 billion previously [5].

Revolutionizing the Delivery Industry

Founded in 2016 by two former Google engineers, Nuro is a self-driving delivery vehicle company that aims to revolutionize the delivery industry. The company’s autonomous vehicles are designed to deliver goods, groceries, and other items to customers’ doorsteps without the need for human drivers [2]. Nuro’s vehicles are equipped with advanced sensors and software that enable them to navigate roads safely and efficiently. The company has been testing its vehicles in several cities across the United States, including Houston, Phoenix, and San Francisco [3].

Expanding Its Operations

With the new funding, Nuro plans to expand its operations and increase its fleet of autonomous delivery vehicles. The company also plans to hire more employees and invest in research and development to improve its technology [1]. Nuro’s CEO, Jiajun Zhu, said in a statement that the company is “excited to continue investing in our people, our technology, and our partnerships as we work to transform local commerce” [3].

The Future of Delivery

Nuro’s latest funding round is a testament to the growing interest in autonomous delivery vehicles. As more consumers turn to online shopping, the demand for fast and efficient delivery services is increasing. Autonomous delivery vehicles have the potential to revolutionize the delivery industry by reducing delivery times and costs while improving efficiency and safety [4].

Conclusion

Nuro’s latest funding round is a significant milestone for the company and the autonomous vehicle industry. With the new funding, Nuro is well-positioned to expand its operations and continue developing its technology. The company’s autonomous delivery vehicles have the potential to revolutionize the delivery industry and transform local commerce. As the demand for fast and efficient delivery services continues to grow, autonomous delivery vehicles like Nuro’s will play an increasingly important role in the future of delivery.

Sources

1. https://www.businesswire.com/news/home/20211102005177/en/Nuro-Announces-600-Million-in-Series-D-Funding

2. https://www.techmeme.com/211102/p21

3. https://techcrunch.com/2021/11/02/nuro-lands-investment-from-google-tiger-global-in-new-600-million-round/

4. https://siliconangle.com/2021/11/02/autonomous-delivery-startup-nuro-raises-600m-reported-8-6b-valuation/

5. https://www.newsmax.com/finance/streettalk/us-autonomous-delivery-startup-nuro-raises-600m-for-8-6b-valuation/2021/11/02/id/1042925/