Nuro

Nuro is an autonomous delivery company co-founded by two ex-Google, self-driving engineers. It develops both autonomous driving software (Nuro Driver) and its own unique, all-electric ADV. Nuro received permission from the California Department of Motor Vehicles (DMV) to commence commercial autonomous deliveries in December 2020 (the first company to obtain the approval). The company unveiled its third-generation production-scale ADV “Nuro R3” in January 2022, after the first (R1) and second-generation (R2) vehicles were introduced in 2018 and February 2020, respectively. The Nuro R3 can carry a payload of roughly 500 lbs, traveling at a maximum speed of 45 mph, and comes with customizable storage and temperature-controlled compartments. It is also equipped with external airbags, LiDAR, radars, cameras, thermal cameras for a 360-degree view, and machine-learning-based software.

As of February 2024, the company was in the process of building a manufacturing and test facility in Nevada to mass produce its vehicles and had operations in San Francisco (California) and Houston (Texas). The company’s business model involves charging a fee per delivery.

The company also went through several structural changes including shifting resources from commercial operations toward R&D (May 2023) and layoffs (July and November 2022).

Key customers and partnerships

Nuro has deployed its ADVs in partnership with parties including FedEx, Uber, Kroger, Walmart, 7-Eleven, and Domino's.

Nuro’s product partners include chip designer Arm Holdings (for evidenced-based technological enhancements; February 2024); Foretellix, a provider of advanced driving assistance and autonomous vehicle safety testing solutions (to test Nuro’s systems virtually; January 2024); and BYD, the North American division of the Chinese electric vehicle manufacturer (to manufacture ADVs; January 2022).

Funding and financials

In November 2021, Nuro raised USD 600 million in a Series D funding round led by Tiger Global Management at a valuation of USD 8.6 billion to commercialize its offering nationwide and scale production.