Autonomous delivery startup Nuro hits $5 billion valuation on fresh funding of $500 million

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Nuro R2 delivery bot

Nuro, the autonomous delivery startup founded by two former Google engineers, has raised $500 million, suggesting that investors still have an appetite for long-term pursuits such as robotics and automated vehicle technology. Nuro now has a post-money valuation of $5 billion.

The Series C round was led by funds and accounts advised by T. Rowe Price Associates, Inc., with participation from new investors including Fidelity Management & Research Company and Baillie Gifford. The round also includes existing investors such as SoftBank Vision Fund 1 and Greylock.

Nuro was founded in June 2016 by former Google engineers Dave Ferguson and Jiajun Zhu. While the startup was initially bootstrapped by Ferguson and Zhu, it has never struggled to attract investors. Nuro’s Series A funding round of $92 million, which officially closed in June 2017, included Greylock, Banyan and gave NetEase founder Ding Lei (aka William Ding) a seat on Nuro’s board. But it was the monster $940 million investment made by the SoftBank Vision Fund in February 2019 that catapulted Nuro ahead of numerous other startups attempting to commercialize autonomous vehicle technology. Nuro had a $2.7 billion valuation following the SoftBank investment, meaning its value doubled in about 18 months. That money has helped it grow to more than 650 employees.

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Nuro partners with CVS Pharmacy to deliver medicines using its autonomous vehicle

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Nuro is partnering with CVS Pharmacy to deliver medicines using its autonomous vehicle.

 Starting this month, the “first-of-its-kind partnership” brings Nuro into the health space as the startup utilizes its fleet of autonomous vehicles to deliver prescriptions and essentials across three zip codes in Houston, Texas.

Pharma is the third industry sector in which Nuro will introduce its autonomous vehicles.

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Kroger-owned grocery store begins fully driverless deliveries

Road-legal delivery vehicles don’t even have space for a human driver.

Nuro, a startup founded by two veterans of Google’s self-driving car project, has reached an important milestone: it has started making fully autonomous grocery deliveries on public streets.

Fry’s Food, a brand owned by grocery giant Kroger, launched a self-driving grocery delivery program back in August in partnership with Nuro. Fry’s has been using Nuro cars to deliver groceries to customers near one of its stores on East McDowell Road in Scottsdale, Arizona.

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Kroger to bring driverless cars to grocery delivery

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Kroger is partnering with autonomous car company Nuro to introduce driverless cars to its grocery delivery.

Kroger has made a number of investments toward expanding its digital and online delivery business.

“Last mile delivery” is one of the hardest feats in the delivery of fresh food.

Kroger announced plans Thursday to partner with driverless car company Nuro to deliver groceries using its autonomous vehicles.

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