Nuro Raises 940 M. Dollars from Softbank Fund

Economy Science Technology

New York, Feb. 11 (Jiji Press)--U.S. autonomous delivery company Nuro said Monday it has raised 940 million dollars from a fund managed by Japanese telecommunications conglomerate Softbank Group Corp. <9984>.

The California-based startup will use the funds for technology development and expanding its delivery service areas.

Nuro, established in 2016, formed an alliance with U.S. supermarket chain Kroger Co. in 2018 to start driverless grocery delivery services in Arizona.

Through the technology-focused Softbank Vision Fund, Softbank has been stepping up investment in next-generation mobility businesses. It invested in U.S. ride-hailing company Uber Technologies Inc. and a subsidiary of U.S. auto giant General Motors Co. that develops autonomous vehicles.

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