Robotic Driverless Delivery Vehicle Startup Nuro Gets $940 Million SoftBank Investment

Key Highlights

Nuro has raised $940Million funding from Japan Tech Company’s Vision Fund.

Nuro has manufactured six driverless delivery vehicle cars till now and is planning to use the investment of SoftBank to create more.

Nuro a Silicon Valley-based company is now valued at $2.7 Billion.

Putting up an innovative concept or idea into action needs lots of valor and financial assistance. Now investment firms are investing in huge amount to promote creativeness and sustainable development. In the same chain 2016 initiated driverless delivery vehicle startup, Nuro gets a rocket-fueled encouragement from Japan conglomerate SoftBank. As per the company’s announcement on Monday, Company has raised $940 Million of funding from Japan Tech Company’s Vision Fund. It is a huge sum that will assist to accelerate Nuro’s mission to implement to driverless delivery vehicles on road in mass amount.

Related : Mubadala’s new $400 Million European Tech fund raises money by SoftBank

Nuro is one of the fewer startups in the world that are working on self-driving Technology. It was invoked in 2016 by a pair of ex-Google self-driving Engineers, Jiajun Zhu and Dave Ferguson. It is focusing on driverless food delivery rather than people moving. Start-up has recently done a partnership with grocery giant Kroger to deliver blue ribbon delivery service in Arizona.

Its R1 driverless delivery vehicle is half as wide as compact Sedan, smaller than most of the cars and liberal from space for passengers and driver. Till now Nuro has manufactured six such cars and is planning to use the investment of SoftBank to create more.

Related : Bangalore-based Edu-tech Startup “Unacademy’ in Talks to Secure $55 Million Investment

Dave Ferguson, Nuro co-founder stated, “We have spent last two and a year in creating an amazing team to launch our first unmanned vehicle service, working on creative technology to fundamentally enhance our daily lives. This investment from SoftBank gave an opportunity to take the next step to implement our vision for local commerce and broad application of technology.”

The Vision Fund, The major venture investment mission initiated by Japanese Tech Giant in 2016, said it will also pump $2.25 Billion into GM’s self-driving cruise vacation. 

After raising $940 Million from SoftBank group now Nuro a Silicon Valley-based company is valued at $2.7 Billion. With this Nuro has raised more than $1 Billion from investors including Gaorong Capital and Greylock Partners who participated in Series A round funding of firm. Nuro is trying to use funds in increasing its Services in more locations. Stay connected with us for latest updates!