Nuro receives $600m in Series D funding

Autonomous delivery vehicle specialists Nuro has announced it has won $600m in Series D funding led by Tiger Global Management, with participation from Baillie Gifford, Fidelity Management & Research Co. LLC, Gaorong Capital, Google, The Kroger Co., SoftBank Vision Fund 1, funds and accounts advised by T. Rowe Price Associates Inc., Woven Capital, and other existing investors.

The investment is to support the development and deployment of the autonomous delivery service using its robots across the US.

“We’re thrilled to have the backing of these prominent investors and world class companies, and honoured that they support our vision of improving communities and revitalising local commerce,” said Dave Ferguson, co-founder and president of Mountain View, Calif.-based Nuro. “We believe this investment will allow us to accelerate our commercialisation strategy and better everyday life with Nuro’s technology.”

“The arrival of ubiquitous on-demand e-commerce is changing the way we access goods,” noted Griffin Schroeder, partner at New York-based Tiger Global. “Demand for local deliveries is exploding. Nuro is the bridge to an era of sustainable, low-cost, autonomous local delivery.”

“Kroger launched its partnership with Nuro in 2018 to explore grocery delivery through autonomous vehicles,” said Yael Cosset, SVP and CIO at the supermarket chain. “Since then, Kroger and Nuro [have] completed thousands of deliveries to our customers — driving innovation that supports our expanding seamless ecosystem by creating consistent and rewarding customer experiences with scalable, sustainable and profitable solutions.”