Top Stories

SoftBank Invests Almost $1 Billion In Robot Delivery Startup Nuro

Nuro, the driverless delivery startup, just got a rocket-powered boost from SoftBank. The firm declared that it has lifted $940 Million in finance from the Japan’s tech behemoth’s Vision Fund. This is a huge sum that will assist pace Nuro’s goal to put driverless delivery cars on the street all together.

It is also a gigantic vote of confidence for one of the lesser known companies operating on self-driving tech. Founded in 2016 by a couple of former Google self-driving employees, Nuro has set itself different by aiming on food delivery instead of transporting people. The startup in Arizona lately declared a pilot delivery service in association with Kroger (grocery giant).

“We have invested the past 2.5 Years developing an amazing group, rolling our first unmanned service, operating with incredible associates and making tech to fundamentally enhance our everyday lives,” claimed Dave Ferguson, Nuro co-founder, to the media in an interview. “This association offers us the chance to take the next step in understanding our dream for local business and the broad usage of our tech.”

On a related note, SoftBank earlier claimed that it is near to close a deal to pump in $1.5 Billion (almost Rs. 10,500 Crores) in Grab. This is 3 times more than an earlier expected $500 Million (almost Rs. 3,500 Crores) deal. The deal comes at a time when the biggest ride-hailing firm of Southeast Asia seeks to branch out, a source well aware of the matter claimed.

The 6-year old Grab has so far lifted more than $6.5 Billion, led by SoftBank, Toyota Motor Corp, and Chinese ride-hailing firm Didi Chuxing. After a fund lifting in August 2018, Grab was capitalized at almost $11 Billion. SoftBank first purchased a share worth $250 Million in 2014 in Grab just as Grab started vying in Southeast Asia against Uber Technologies.

About the author

Eugene Lawhorn

Eugene Lawhorn

When it comes to Science, Eugene is the one who comes in mind. Eugene carries more than 7 years of experience and has a Degree in Astronomy. He is well aware of all the facts about the Science domain and hence is capable of leading the department fruitfully. In his free time, Eugene is seen having a peaceful time with his pet dog along the beach.

Leave a Comment