Autonomous driving technology startup Nuro has secured $106 million in its latest Series E funding round, resulting in a valuation of $6 billion. This round saw participation from notable investors, including T. Rowe Price Associates, Fidelity Management & Research Company, Tiger Global Management, Greylock Partners, and XN LP. The newly acquired funds are intended to support Nuro’s efforts in scaling its artificial intelligence technology and advancing commercial partnerships.
This valuation reflects a decrease from Nuro’s previous valuation of $8.6 billion in 2021, when the company raised $600 million in a Series D funding round led by Tiger Global Management. Since then, Nuro has faced challenges, including workforce reductions and a strategic shift from developing proprietary delivery vehicles to licensing its autonomous driving technology to automotive manufacturers and mobility companies.
Founded in 2016 by former Google engineers, Nuro has raised a total of $2.2 billion to date. The company’s technology has been utilized in partnerships with companies such as Uber Eats, Kroger, Walmart, Domino’s Pizza, and Chipotle Mexican Grill for autonomous delivery services.
