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Nvidia Joins Investor Group in Backing Nuro’s Self-Driving Software
Nvidia has joined a group of new investors to support Nuro, a company that develops self-driving software for delivery and ride-hailing services. This funding round has now reached $203 million, with existing backer Baillie Gifford adding an additional $97 million to Nuro’s Series E round. Other new investors include Icehouse Ventures, Kindred Ventures, and Pledge Ventures, as well as Uber, which recently announced a significant investment in Nuro as part of a broader deal with Lucid, an electric car maker.
Nvidia’s investment in Nuro comes after years of technical collaboration between the two companies. Nuro uses Nvidia GPUs for data processing and model training, with its latest compute model built on the Nvidia Drive AGX Thor platform. The Series E funding for Nuro now totals $2.3 billion, with a post-money valuation of $6 billion.
Nuro has undergone significant changes in recent years, including layoffs and a shift in business strategy to focus on licensing its technology to automakers and mobility providers. This pivot has shown promise, with Uber planning to launch a robotaxi service using Nuro’s self-driving tech in Lucid Gravity SUVs.
Nuro co-founder Dave Ferguson expressed confidence in the company’s future growth with the new capital, emphasizing a focus on delivering new commercial partnerships. Nuro, which employs around 700 people, aims to bring autonomy to a global scale through these efforts.
