Nuro is signing partnership deals with a range of companies to test its autonomous delivery vehicle (Photo: Nuro)
Nuro, a California-based self-driving vehicle startup, said it has raised $940 million in financing from the Softbank Vision Fund.
Including investments from other companies, Nuro said it has now raised more than $1 billion to help further develop and commercialize its autonomous technology.
Nuro last year introduced a driverless vehicle that is particularly suited to commercial deliveries. The company partnered with the Kroger grocery store chain and licensed its technology to autonomous trucking company Ike. It also launched an unmanned delivery service in Arizona.
Nuro co-founder Dave Ferguson said his company had spent two-and-a-half years building a team and developing its technology. The partnership with Softbank “gives us the opportunity to take the next step in realizing our vision for local commerce and the broad application of our technology,” he said in a press release.
Nuro said it will use its newly expanded financial resources to broaden its geographical reach, add new partners and “extend and mature” its self-driving technology.
SoftBank Vision Fund is a venture-capital subsidiary of SoftBank, a diversified Japanese telecommunications group. The $100 billion fund generally invests at least $100 million in growth-stage companies across a range of industry sectors with particular focus on promising new technologies.