Nuro, the Mountain View, California, autonomous delivery startup, announced a new investment round from Chipotle and Woven Capital, a venture fund owned by Toyota Motor Corp.
So we could see burritos delivered by Nuro’s R2 delivery wagons in the not-too-distant future.
Last November Nuro said it raised $500 million from a group that included T. Rowe Price Associates, Fidelity Management and Research Co. and Baillie Gifford.
Before that Nuro raised about $940 million from Softbank, the Japanese conglomerate, and Greylock Capital Management, an investment firm based in Stamford, Connecticut.
It also has partnerships with Walmart
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“We are thrilled to have the backing of this tremendous group of best-in-class investors to shape the future of mobility for people across the globe,” said Nuro co-founder and President Dave Ferguson, in a statement. Ferguson said the proceeds will help fund development and deployment of its self-driving delivery vehicles.
Ferguson and co-founder Jiajun Zhu are former Google
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Initially, Nuro deployed partially autonomous Toyota Priuses in its first test fleets. Now the company is refining its R2 vehicles, which are small vans without steering wheels or pedals, that some have described as resembling a toaster on wheels. They are about half the size of a mid-size passenger car.
It does not charge consumers for deliveries, but Nuro hopes to make money by charging retailers whose goods it can deliver.
Last August, the California Department of Motor Vehicles issued Nuro a permit to test two R2s on certain roads in parts of Santa Clara and San Mateo counties in the Bay Area. They can run at a maximum speed of 25 miles per hour and only in fair weather on streets where the speed limit is 35 mph or lower.
“Nuro has proven itself to be a true leader in autonomous vehicles for local goods delivery,” said George Kellerman, Woven Capital managing director, in a statement. “Between their state-of-the-art technology and powerful partnerships with leading U.S. brands, they are revolutionizing everyday commerce, making it safer and more efficient.”