#USA #Mountain View #Autonomous Driving #NURO #Series E Funding

Nuro Secures Significant Funding to Drive Future Growth

In a groundbreaking announcement, Nuro, Inc., a frontrunner in the field of autonomous driving technology, has successfully raised $106 million in its ongoing Series E funding round, positioning the company at an impressive $6 billion valuation. This early success showcases the confidence that leading financial and strategic investors have in Nuro's innovative platform and its focus on licensing-driven business models.

Investors and Vision

The Series E round has attracted participation from both new and returning investors, underscoring Nuro's robust position in the market. Notable contributors to this funding include T. Rowe Price Associates, Fidelity Management, Tiger Global Management, and Greylock Partners, among others. A more detailed announcement regarding the strategic investors involved will be shared soon, further revealing this diverse pool of support.

Nuro's journey in the autonomous technology space has been characterized by years of rigorous development and real-world testing. With over eight years of innovative research and four years of practical deployments in regions like California and Texas, Nuro stands out as one of the few companies to have consistently executed driverless technology at a city scale without the need for a safety driver.

The Future of Autonomous Tech

The funding marks a pivotal moment for Nuro, which has made significant strides in developing a vehicle-agnostic, cost-effective technology designed to enhance commercial fleets, robotaxis, and personal vehicles. Nuro’s AI-first self-driving system opens up numerous applications, symbolizing a major step towards the mass adoption of autonomous vehicles

Jiajun Zhu, co-founder and CEO of Nuro, expressed excitement over the enthusiasm from investors regarding the Series E funding round. Zhu stated, "Our technology, years of experience with driver-out Level 4 deployments, and focus on licensing uniquely position us to help automakers, mobility platforms, and commercial fleets accelerate their autonomy roadmaps." Such endorsements not only highlight investor confidence but also pave the way for significant technological advancements in the autonomous driving sector.

The recent funding has elevated Nuro's total financing to an impressive $2.2 billion to date, further fueling the company’s endeavors to scale its AI-based technology platform and bolster its commercial partnerships across the industry. Nuro is committed to providing detailed updates on additional participants in the Series E funding over the upcoming weeks.

About Nuro

Founded in 2016, Nuro has emerged as an essential player in the realm of Physical AI, aiming to develop what may be the world's most scalable AI driver. The company's notable technology includes flagship products such as the Nuro Driver™ (Level 4) and Nuro Driver™ Assist (Level 2++). Each of these products is a result of comprehensive research and development, combining advanced automotive hardware with pioneering AI-first self-driving software. Nuro’s innovations are designed to be seamlessly integrated into diverse applications, including robotaxis, delivery vehicles, and consumer-centric cars.

In its mission to enhance everyday life through autonomy, Nuro continues paving the way towards making the transformative effects of autonomous driving accessible to all. As the company prepares for the next pivotal phase of growth, its investors’ backing sets a promising stage for exciting new advancements in the field of autonomous driving technology.