(Reuters)-Nuro’s startup ended its final internship investment round on Thursday, reaching a valuation of $ 6 billion after raising $ 203 million of new investors-Uber and Nvidia, along with previous investors.
The last $ 97 million installment 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 last investment round is less than the $ 8.6 billion in which it was valued at 2021, according to pitchbook data.
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Many during the 2021 investment boom are now raising capital with lower valuations as investors’ attention turns to.
“Change reflects the broader conditions on the market and this is a good result for the current market environment,” said a Nuro spokesman.
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Nuro has been striving to scale its autonomous steering platform and expand trading partnerships.
Founded in 2016, Nuro went from delivery robots to license its technology Nuro Driver for use in robotaxis, commercial fleets and personal vehicles.
Nuro has partnered with electric vehicle manufacturer Lucid and Uber to launch a global robotaxi service. Uber plans to deploy more than 20,000 SUVs Lucid Gravity equipped with the Nuro system in dozens of markets over six years from 2026.
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(Akash report in Bengaluru; edition of Krishna Chandra Eluri)
