SoftBank invests USD 940 mln in driverless delivery startup Nuro

Tuesday 12 February 2019 14:16 CET | News

Autonomous technology startup Nuro has raised USD 940 million from SoftBank Group, which valued the US-based company at  USD 2.7 billion.

In 2018, Nuro, which was founded in 2016, launched a self-driving delivery vehicle to run errands from picking up groceries to delivering dinner, and partnered with US-based supermarket chain Kroger to extend its services.

The funding by SoftBank came through its USD 100 billion Vision Fund, which usually picks up big stakes in fast-growing technology companies. According to the startup, the funds will be used to expand its delivery service to new areas, add new partners, expand its fleet, and grow its team.

Previously, Nuro has raised more than USD 1 billion from investors such as Greylock Partners and Gaorong Capital, which had participated in its Series A funding round.

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Keywords: SoftBank, Nuro, driverless delivery, startup, funding, Vision Fund
Countries: World