Nuro Secures $106 Million Funding in Shift to License Autonomous Technology to Automakers
Nuro raises $106 million to advance its self-driving technology and shift focus to licensing autonomy tech to automakers and fleets.
Matilda
Nuro Secures $106 Million Funding in Shift to License Autonomous Technology to Automakers
Nuro, the autonomous vehicle startup known for its delivery robots, has raised $106 million in its Series E funding round. This brings its total funding to a significant $2.2 billion, with a current valuation of $6 billion. Though lower than its $8.6 billion valuation after a 2021 funding round, this new influx of capital reflects a strategic pivot that could redefine the future of autonomous driving. Image Credits:Nuro Nuro's Shift from Delivery Robots to Licensing Autonomy Technology Nuro initially garnered attention with its cute on-road delivery robots, which could carry goods for partners like Domino’s. However, building vehicles proved to be costly, and with cash reserves running low, Nuro decided to reassess its strategy. Instead of continuing with expensive vehicle production, the company now plans to focus on licensing its self-driving technology to automakers, ride-hail companies, and commercial fleets. This pivot could bring more sustainable growth, offering Nuro a chance …
