Softbank Channels $940m Into Driverless-Delivery Startup Nuro

By MUNSIF VENGATTIL

AUTONOMOUS technology startup Nuro said yesterday it raised $940m (£730.9m) from Softbank, which valued the Silicon Valley-based company at $2.7bn.

Nuro was co-founded in 2016 by two former engineers of Google’s selfdriving car project, Dave Ferguson and Jiajun Zhu.

The funding by Softbank came through its $100bnVision Fund, which usually picks up big stakes in fast-growing technology companies.

The firm, which largely operates in San Francisco, said it will use the funds to expand its delivery service to new areas, add new partners, expand its fleet and grow its team.

This article provided by NewsEdge.