Self-driving vehicle startup Nuro Inc has raised $203 million in a late-stage funding round, bringing the company’s valuation to $6 billion. New investors Uber and Nvidia joined returning backers in the round, which included T. Rowe Price, Fidelity, and Tiger Global.
The latest $97 million tranche follows an earlier $106 million round announced in April. Despite the impressive capital raise, Nuro’s valuation is below the $8.6 billion it achieved in 2021, reflecting a broader market trend where many tech startups are seeing lower valuations as investor attention shifts toward artificial intelligence, News.Az reports, citing Reuters.
"The change reflects broader market conditions and this is a strong outcome for the current market environment," a Nuro spokesperson said.
Founded in 2016, Nuro initially focused on delivery robots but has since pivoted to licensing its Nuro Driver technology for robotaxis, commercial fleets, and personal vehicles. The company is actively expanding its self-driving platform and forming commercial partnerships to accelerate adoption.
Nuro has partnered with EV manufacturer Lucid and Uber to launch a global robotaxi service. As part of the plan, Uber aims to deploy over 20,000 Lucid Gravity SUVs equipped with Nuro’s technology across multiple markets over six years, starting in 2026.
