Nuro’s $106M raise backs its shift from delivery robots to licensing autonomy tech

After months of hearty marketing efforts and large-scale technology demos across the U.S., Nuro has secured $106 million in fresh funding to help scale its autonomous driving technology and advance commercial partnerships. The Series E round brings Nuro’s total funding raised to $2.2 billion and its valuation to $6 billion. That’s a drop from the $8.6 billion post-money valuation Nuro secured after its $600 million Series D in 2021, but most startup valuations have come down from the highs seen during the era of easy money. Usually, a down round can be cause for concern, as it might reflect diminished investor confidence among slower-than-expected progress. That said, it’s a tough funding environment out there. It’s also possible that in Nuro’s case, the company may need less capital as it pursues a recent business pivot that now focuses on licensing its self-driving technology to automotive OEMs, commercial delivery fleets, and ride-hail companies. TechCrunch reported on Nuro’s shi ... Read full article.