AV startup Nuro raises $940 million from SoftBank’s Vision Fund

Autonomous technology startup Nuro said on Monday it has raised $940 million from SoftBank’s Vision Fund, which valued the Silicon Valley-based company at $2.7 billion.

Nuro, co-founded by two former engineers from Google’s self-driving car project, Dave Ferguson and Jiajun Zhu, last year launched a self-driving delivery vehicle that can run errands from picking up groceries to delivering dinner. 

The funding by SoftBank came through its $100-billion Vision Fund, which usually picks up big stakes in fast-growing technology companies.

Last year, Nuro launched a self-driving delivery vehicle to run errands from picking up groceries to delivering dinner, and partnered with supermarket chain Kroger co to extend its services.

The firm, which largely operates in the San Francisco Bay Area, said it will use the funds to expand its delivery service to new areas, add new partners, expand its fleet and grow its team.

Nuro has raised more than $1 billion from investors, including Greylock Partners and Gaorong Capital, which had participated in its Series A funding round.