Nuro, the Silicon Valley startup building autonomous driving software, has secured fresh backing in its $203 million Series E round, and this time, Nvidia is among the investors.
Nvidia strengthens ties with Nuro
The investment extends an already close technical relationship. Nuro relies on Nvidia GPUs for large-scale data processing and training, and its latest compute model is built on the Nvidia Drive AGX Thor platform. This financial commitment signals confidence that the partnership will scale as Nuro licenses its tech to more automakers.
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Funding round details
The round began in April with an initial $106 million tranche led by T. Rowe Price, Fidelity, Tiger Global, Greylock, and others. The latest $97 million block adds Nvidia, Icehouse Ventures, Kindred Ventures, Pledge Ventures, and additional support from Baillie Gifford.
Uber also participated, tying into its broader $300 million investment in Lucid Motors and its plan to launch robotaxis using Lucid Gravity SUVs equipped with Nuro’s autonomous system. Uber has pledged a separate multi-hundred-million-dollar investment in Nuro, with portions tied to performance milestones.
Nuro’s valuation and pivot
Despite the new backing, Nuro’s valuation has slipped. Its Series E post-money valuation sits at $6 billion, down from $8.6 billion in 2021. Like many AV startups, Nuro faced funding headwinds, layoffs, and strategic shifts in recent years.
In 2024, the company abandoned plans to operate its own fleet of delivery bots. Instead, it pivoted to a licensing model, embedding its self-driving platform into vehicles made by partners. This move appears to be working, with Uber embracing the technology for its upcoming robotaxi fleet.
Next steps for Nuro
With roughly 700 employees, it says it will now focus on expanding commercial partnerships. Co-founder Dave Ferguson stated the new funding positions the company to scale autonomy globally while securing long-term revenue streams through licensing.
For Nvidia, the deal bolsters its role as a backbone provider of AI hardware for autonomy. For Nuro, it’s proof that its leaner strategy is gaining traction one licensing agreement at a time.
