Self-Driving Delivery Company Nuro Raises $500 Million

By Annie Baker ● April 18, 2021
  • Nuro — a self-driving delivery company — announced recently it has raised $500 million in funding. These are the details.

Nuro — a self-driving delivery company — announced recently it has raised $500 million in funding. This investment was provided by Woven Capital, Chipotle, and several other new investors as part of the company’s Series C funding round.

Nuro’s new funding round is the first investment by Woven Capital, a newly established growth-stage fund from Woven Planet (a Toyota subsidiary). And this additional funding signifies continued confidence in Nuro’s vision for autonomous delivery from a group of renowned investors.

Woven Capital, Chipotle, and additional new investors joined as part of Nuro’s recently closed Series C round led by funds and accounts advised by T. Rowe Price Associates with participation from new investors including Fidelity Management & Research Company, LLC. and Baillie Gifford, and existing investors such as SoftBank Vision Fund 1 and Greylock.

These new entrants – coupled with Nuro’s recent news of securing the first and only deployment permit from the California DMV – further solidify the company’s position as the leader in autonomous delivery. And with this funding round, Nuro will continue to advance its autonomous technology, grow its team, and expand its delivery service.

KEY QUOTES:

“We are thrilled to have the backing of this tremendous group of best-in-class investors to shape the future of mobility for people across the globe. The support of these financial and strategic investors from multiple continents will be a huge boost to Nuro as we commercialize and scale our local delivery product.”

— Dave Ferguson, Nuro co-founder and president

“We are always seeking opportunities that provide innovative solutions for increasing access and convenience for our guests. Nuro could change the traditional delivery model and we believe consumers are going to continue to seek options and additional access points for how and where they enjoy their food.”

— Curt Garner, Chipotle’s Chief Technology Officer