Nvidia Joins Nuro's $203 Million Funding Round

Nuro, a promising autonomous vehicle (AV) startup, has successfully garnered new investments, including a significant backing from Nvidia, totaling $203 million in its latest funding round. This funding amplifies Nuro's Series E funding efforts, initially kicked off with a $106 million tranche.

Silicon Valley-based Nuro, known for its cutting-edge self-driving technology for delivery and ride-hailing services, announced an impressive influx of capital from several investors. This funding round includes investments from known backer Baillie Gifford, as well as new participants like Icehouse Ventures, Kindred Ventures, Nvidia, and Pledge Ventures.

Uber, previously setting grounds for a substantial investment into Nuro, further underscores its commitment by participating in this funding round. Leveraging Nvidia's cutting-edge GPUs, Nuro has developed advanced data processing capabilities essential for its operations, exemplified in its latest model built upon the Nvidia Drive AGX Thor platform.

Nuro has undergone significant changes, reassessing its business model amidst fluctuating economic conditions. With strategic pivots, such as scrapping its initial plans for an owned fleet of delivery bots, the startup focuses instead on licensing its self-driving technologies to automakers and mobility service providers.

The transformation began to show tangible outcomes when Uber announced an exciting partnership in July to deploy a robotaxi service using Lucid Electric Vehicles enhanced by Nuro's autonomous technology. Also, under this lucrative agreement, Uber committed to acquiring 20,000 Lucid's EV models within a six-year time span.

Co-founder Dave Ferguson emphasized the strategic partnerships stemming from these investments as pivotal for Nuro's growth. The company's new focus is meeting commercial demands globally through these enhanced collaborations.