Nuro Raises $97 Million in Series E Extension at $6 Billion Valuation

Nuro, a company specializing in autonomous driving technology and software, has secured $97 million in a Series E extension, valuing the company at $6 billion. This funding follows the initial tranche of the Series E, where Nuro raised $106 million. Although the current valuation marks a decrease from the reported $8.6 billion in 2021, the company has raised over $2.3 billion since its establishment in 2016. Notable participants in the latest funding round include Uber, Baillie Gifford, Icehouse Ventures, Kindred Ventures, Nvidia, and Pledge Ventures. The capital will support the expansion of Nuro's AI-first autonomous technology and commercial partnerships.

Nuro has shifted its business strategy from delivery vehicles to licensing its autonomous driving software, a move validated by its recent partnership with Lucid and Uber for a global robotaxi service. Nuro's co-founder, Dave Ferguson, expressed confidence in the company's technology and commercialization approach.

The funding landscape for autonomous driving tech rebounded in 2024, influenced by Waymo's $5.6 billion round, whereas 2023 saw only $5.9 billion in total funding. However, 2022 is trending lower, with just over $2 billion invested in autonomous driving tech startups this year.