Nuro has raised $600 million in funds. The new investor Tiger Global Management led these funding rounds. Moreover, they plan to use these funds to scale up to commercial operations. Remember, Nuro is an autonomous delivery business.
According to finance experts, these funds have lifted Nuro’s worth to around $8.6 billion. Moreover, it is up by 72 percent from last year. A new investor, Google, has also joined the round.
High Profile thoughts from Nuro’ Performance
Nuro co-founder spoke with tech media. They will boost emphasis on commercializing and scaling the manufacturing. Furthermore, they are going to achieve the boost with the help of funds. These efficiency measures include third-generation vehicles at their new plant in Southern Nevada. Hopefully, ComCompanypnay will start the construction of the manufacturing plant in December 2022.
Nuro Relationship with Google
They also announced a five-year relationship with Google Cloud. It is part of its fundraising announcement. Any autonomous vehicle (AV) business must first get a cloud computing platform collaboration. Particularly, if they intend to commercialize. Self-driving vehicles create large volumes of data. Whether on the road or in a computer simulation. To test the system, making cloud services one of the higher expenditures for an AV firm.
Googles have plans for this AV Company.
Nuro and Google said they would explore options together to enhance. Furthermore, they will transform local commerce as part of this agreement. What’s not clear is how this cooperation and investment in AV company will affect Waymo. Remember, Waymo is the former Google self-driving project.
Nuro is working on self-driving vehicle technology. The company has changed its strategy, unlike other AV firms. Moreover, they have concentrated efforts on developing and deploying a low-speed electric self-driving. Particularly, these vehicles are for the transportation of goods.
Nuro has also attracted several high-profile collaborators. Some of them include CVS pharmacy, FedEx, Kroger grocery stores, and Walmart. Therefore, we should expect nuro is not going to stop here over these $600 million. So, they will continue to get more funds from various other technological resources.