Nvidia is among a group of new investors to back Nuro — which develops self-driving software for delivery and ride-hailing services — in a funding round that has reached $203 million.
The Silicon Valley startup announced Thursday that several investors, including existing backer Baillie Gifford, added another $97 million to its Series E round. New investors include Icehouse Ventures, Kindred Ventures, Nvidia, and Pledge Ventures. Uber, which last month said it would make a “multi-hundred-million dollar” investment in Nuro as part of a broader deal with the electric car maker Lucid, also participated.
Nvidia’s investment follows years of technical collaboration with Nuro. The startup uses Nvidia GPUs for its large-scale data processing and model training, and its latest compute model is built on the Nvidia Drive AGX Thor platform.
The first $106 million tranche of Series E funding was announced in April. Investment accounts advised by T. Rowe Price Associates, Fidelity Management & Research Company, Tiger Global Management, Greylock Partners, and XN participated in that first block.
Nuro has raised $2.3 billion to date. Its Series E post-money valuation is $6 billion. That’s a 30% drop from its $8.6 billion valuation in 2021 when Nuro raised $600 million in a Series D round.
