Self-driving delivery company Nuro raises $500M, source says at a $5B valuation

Nov 09, 2020 · 1 min read
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According to Reuters:

(Reuters) - Self-driving delivery company Nuro, whose R2 unit has no pedals or steering wheel and only room for packages, said Monday it has raised $500 million as e-commerce gets a huge boost from the pandemic.

Nuro joins other self-driving firms that raised big money this year. Earlier this year Waymo, the self-driving unit of Alphabet Inc raised $3 billion, helping to boost the total raised in 2020 by autonomous car companies to $7.1 billion as of November 4, according to data firm PitchBook. While that slightly exceeds 2019’s total, it falls short of the record $9.4 billion raised in 2018. Also far fewer startups are getting funded.

Early last year Nuro raised $940 million from SoftBank and a source close to the company said the valuation doubled from that last funding round to $5 billion.

This round was led by T. Rowe Price Associates and includes new investors Fidelity Management & Research Company, LLC. and Baillie Gifford. Existing investors SoftBank and Greylock also participated.

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