U.S. autonomous delivery startup Nuro raises $600 mln for $8.6 bln valuation

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An autonomous transportation conveyance by Silicon Valley based shaper Nuro is seen successful this undated handout representation received by Reuters connected November 1, 2021. Nuro/Handout via REUTERS

Nov 2 (Reuters) - Autonomous transportation conveyance shaper Nuro raised $600 cardinal successful its latest backing round, the Silicon Valley-based startup said connected Tuesday, bringing connected committee Alphabet Inc's (GOOGL.O) Google arsenic an investor.

The backing round, led by Tiger Global Management, lifted Nuro's valuation to $8.6 cardinal from $5 cardinal previously, according to a idiosyncratic adjacent to the deal.

Toyota Motor Corp's (7203.T) Woven Capital, SoftBank Group Corp's (9984.T) Vision Fund 1, Kroger Co. (KR.N) were among different investors.

Self-driving startups are racing to physique warfare chests to make and commercialize technology, an costly and time-consuming process. Alphabet's self-driving portion Waymo successful June raised $2.5 billion. work much

Nuro, whose R2 portion has nary pedals oregon steering instrumentality and lone country for packages, said it has signed a five-year strategical concern with Google Cloud to enactment self-driving simulation and information management.

Google Cloud said it was besides looking to assistance Nuro optimise however it makes deliveries for retailers and different businesses, with the purpose of transforming section commerce together.

Nuro's founders, Dave Ferguson and Jiajun Zhu, some worked connected Google's self-driving car project, aboriginal spun retired arsenic Waymo, earlier launched Nuro.

Nuro's R2 has been tested successful respective cities, including Houston successful Texas, Phoenix successful Arizona, and Mountain View successful California.

The National Highway Traffic Safety Administration gave Nuro support successful February past twelvemonth to deploy up to 5,000 R2 vehicles connected nationalist roads implicit 2 years. The institution has not disclosed the fig of R2s connected the road.

Reporting By Jane Lanhee Lee; editing by Jane Wardell

Our Standards: The Thomson Reuters Trust Principles.

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