Nuro Inc., a self-driving vehicle startup, has completed a $203 million Series E funding round, raising its valuation to $6 billion.
Funding Overview
Nuro Inc. raised $203 million in a Series E funding round, achieving a valuation of $6 billion. Notable new and returning investors include Nvidia and Uber, as well as Icehouse Ventures, Kindred Ventures, and Pledge Ventures. Baillie Gifford contributed $70 million, alongside previous investors such as T. Rowe Price, Fidelity Management & Research, and Tiger Global.
Company Development and Current Projects
Founded in 2016 by former Google employees Dave Ferguson and Jiajun Zhu, Nuro initially developed autonomous delivery robots but pivoted in 2024 to focus on licensing its Nuro Driver platform to automakers. The company now partners with ride-hailing services and commercial fleets, moving away from delivery robots.
Future of Autonomous Taxis and Market Competition
The global robotaxi market is projected to grow to approximately $10 trillion over the next decade. Both Tesla and Nuro aim to capture market share with different strategies. Tesla operates a vertically integrated approach, while Nuro has taken a partner-centric route through collaborations with Uber and Lucid, with plans to deploy at least 20,000 Lucid Gravity SUVs next year.
Nuro Inc. successfully completes another funding round, reflecting increasing investor interest in the autonomous vehicle industry. The company continues to advance its technology and its application in taxi services.
