MOUNTAIN VIEW, CA - Aug 21, 2025 (UTC) - Nuro, a pioneering autonomous vehicle startup, today announced the closing of its $203 million Series E funding round, valuing the company at $6 billion post-money. Led by new investors including Nvidia, Icehouse Ventures, Kindred Ventures, and Pledge Ventures, with participation from existing investor Baillie Gifford and Uber as part of a broader strategic investment, this round brings Nuro’s total funding to $2.3 billion. The funding follows a first tranche of $106 million announced in April 2025 and a second tranche of $97 million.
“We’re well-positioned to continue our next phase of growth with the new capital. We will focus on delivering new commercial partnerships to realize autonomy at global scale,” said Dave Ferguson, co-founder and president of Nuro.
Nvidia’s involvement highlights Nuro’s technical collaboration with the chip giant, using Nvidia GPUs for data processing and model training.
Funding Details
Nuro’s Series E funding round totals $203 million, split into a $106 million first tranche in April 2025 and a $97 million second tranche. The round was led by new investors Nvidia, Icehouse Ventures, Kindred Ventures, and Pledge Ventures, with participation from existing investor Baillie Gifford. Uber contributed as part of a multi-hundred-million-dollar strategic investment tied to milestones. The post-money valuation is $6 billion, a 30% decrease from its $8.6 billion valuation in 2021. This all-equity round reflects investor confidence in Nuro’s pivot to licensing self-driving technology.
Strategic Goals and Use of Funds
Nuro plans to use the $203 million to achieve the following strategic objectives:
- Technology Advancement: Enhance its AI-first self-driving platform, including the Nuro Driver software, leveraging Nvidia’s Drive AGX Thor for improved performance in delivery and ride-hailing applications.
- Commercial Partnerships: Expand collaborations, such as the recent Uber partnership for robotaxi services using Lucid Gravity SUVs, and pursue new deals to license technology to automakers and mobility providers.
- Global Scaling: Accelerate deployment of autonomous solutions worldwide, focusing on safe, efficient commercialization of self-driving tech.
- Team and Operations: Support workforce growth and operational scaling following recent strategic pivots and cost optimizations.
- Milestone Achievement: Meet performance targets tied to Uber’s investment to unlock additional funding and strengthen strategic alliances.
Historical Funding and Growth
Nuro has raised a total of $2.3 billion across multiple rounds since its founding in 2016. Below is a summary of its funding history:
| Round | Year | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Series A | 2017 | $92M | Not disclosed | SoftBank Vision Fund |
| Series B | 2018 | $500M | Not disclosed | SoftBank Vision Fund |
| Series C | 2019 | $940M | $2.7B | SoftBank Vision Fund |
| Series D | 2021 | $600M | $8.6B | Tiger Global Management |
| Series E | 2025 | $203M | $6B | Nvidia, Icehouse Ventures |
Nuro has grown from developing low-speed delivery bots to licensing its self-driving software, partnering with companies like Uber and Lucid. Despite challenges including layoffs in 2022 and 2023, the company now employs about 700 people and has pivoted to a technology-licensing model, achieving key milestones like the Uber collaboration.
Nuro’s Technology
Nuro’s AI-first self-driving platform, the Nuro Driver, is designed for autonomous delivery and ride-hailing services. Built on advanced machine learning and computer vision, it powers vehicles like the all-electric Lucid Gravity SUVs in partnership with Uber. The platform integrates Nvidia’s Drive AGX Thor for high-performance computing, enabling safe navigation in complex urban environments. Key features include sensor fusion, predictive modeling, and real-time decision-making, allowing for driverless operations without onboard human safety drivers. Nuro’s technology emphasizes scalability, safety, and efficiency, transitioning from owned fleets to licensed software for broader industry adoption.
Industry Impact and Challenges
Nuro’s technology is reshaping the autonomous vehicle sector by enabling efficient, low-cost delivery and mobility solutions. Its partnerships, such as with Uber for robotaxi services, demonstrate potential to reduce urban congestion and emissions. However, the company has faced industry-wide challenges, including tightened capital markets leading to layoffs and a valuation drop. Regulatory hurdles for driverless operations, competition from Waymo and Cruise, and the need for extensive safety validation remain key obstacles. Nuro’s pivot to licensing mitigates some risks but requires strong partner adoption to scale.
Market Context and Industry Trends
The $203 million Series E round reflects the resurgence in autonomous vehicle investments amid a market projected to reach $10 trillion by 2030, driven by advancements in AI and electric vehicles. Recent deals, such as Uber’s $300 million investment in Lucid and Wayve’s $1.05 billion round, highlight growing interest in AV partnerships. Nuro’s focus on software licensing aligns with trends toward collaborative ecosystems, where tech firms like Nvidia provide hardware support, addressing challenges like high development costs and regulatory scrutiny in the AV industry.
Stakeholder Perspectives
- Dave Ferguson, Co-Founder and President of Nuro: “We’re well-positioned to continue our next phase of growth with the new capital. We will focus on delivering new commercial partnerships to realize autonomy at global scale.”
- Nvidia Representative: “Nuro’s integration of our Drive AGX Thor platform exemplifies how AI hardware can accelerate autonomous innovation.”
Stakeholder Insights
Investors recognize Nuro’s strategic pivot as a resilient move in a challenging AV market, with its licensing model reducing capital intensity while leveraging partnerships like Uber and Lucid. Nvidia’s involvement underscores the value of Nuro’s AI-driven tech, signaling confidence in its scalability. Analysts note that achieving milestones tied to Uber’s investment will be crucial for unlocking further funding, positioning Nuro to lead in commercial AV applications despite past valuation adjustments.
About Nuro
Founded in 2016 by former Google engineers Jiajun Zhu and Dave Ferguson, Nuro is a Mountain View, California-based autonomous vehicle company developing AI-first self-driving technology for delivery and ride-hailing. With a focus on safety and efficiency, Nuro has transitioned from operating delivery bots to licensing its Nuro Driver software. Backed by investors including Nvidia, SoftBank Vision Fund, and Uber, Nuro employs about 700 people and aims to commercialize autonomy at scale.
Future Outlook
Nuro is well-positioned to advance its AI-driven autonomous technology, leveraging the $203 million Series E to scale commercial partnerships and achieve key milestones. The company aims to launch robotaxi services with Uber using Lucid vehicles and expand licensing deals globally by 2026. By focusing on safe, efficient deployment, Nuro seeks to capture a significant share of the AV market, potentially regaining its peak valuation through successful commercialization.
Media Contact
For more information, please contact:
Email: press@nuro.ai
Website: www.nuro.ai
