(Reuters) -Self-driving vehicle startup Nuro closed its late-stage funding round on Thursday, raising $203 million at a $6 billion valuation from new investors Uber and Nvidia alongside returning backers.
The latest tranche of $97 million follows the $106 million announced in April, which included investors such as T. Rowe Price, Fidelity, and Tiger Global.
The company’s valuation in the latest funding round is lower than the $8.6 billion it was valued at in 2021, according to Pitchbook data.
Many startups that became unicorns during the 2021 funding boom are now raising capital at lower valuations as investors’ attention turns toward artificial intelligence.
“The change reflects broader market conditions and this is a strong outcome for the current market environment,” a Nuro spokesperson said.
Nuro has been pushing to scale its self-driving platform and expand commercial partnerships.
Founded in 2016, Nuro has pivoted from delivery robots to licensing its Nuro Driver technology for use in robotaxis, commercial fleets, and personal vehicles.
Nuro partnered with EV maker Lucid and Uber to launch a global robotaxi service. Uber plans to deploy over 20,000 Lucid Gravity SUVs equipped with Nuro’s system across dozens of markets over six years starting in 2026.
(Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra Eluri)
