Uber Invests Nearly 500 Million Dollars in Startup Nuro
Uber has committed nearly half a billion dollars to self-driving startup Nuro to support the development of a commercial robotaxi fleet. The investment includes a partnership with Lucid to deploy 35,000 autonomous vehicles on Uber's platform as the company hits key technical milestones.
UBER TECHNOLOGIES INC committed nearly $500 million to self-driving startup Nuro to develop commercial robotaxis. The investment follows a three-way partnership with LUCID GROUP INC to deploy 35,000 autonomous vehicles on the Uber platform. The deal positions Uber as a central partner in a sector led by TESLA INC, Alphabet's Waymo, and AMAZON.COM INC's Zoox.
Uber previously reported participating in a $203 million funding round that valued Nuro at $6 billion. Two people familiar with the matter said a subsequent, larger investment and milestone-based funding commitments now total nearly $500 million.
