By Josh Beckerman

 

Autonomous vehicle company Nuro raised $600 million of Series D financing led by Tiger Global Management, which follows an active period in fundraising and delivery agreements for the company.

One of the participants in the financing is Kroger Co., which has a delivery partnership with Nuro. Others in the funding round include Baillie Gifford, Fidelity Management & Research Co., Gaorong Capital, Google, SoftBank, T. Rowe Price Associates Inc. and Woven Capital.

Nuro reported a $500 million Series D round in November 2020. Additional Series D investors announced in March included Chipotle Mexican Grill Inc.

Nuro and FedEx Corp. announced a multi-year agreement in June.

In December 2020, Nuro received an Autonomous Vehicle Deployment Permit in California. In August, Nuro said it would invest $40 million to develop a factory and a test track in Nevada. The company said it would be "taking over 74 acres of the Las Vegas Motor Speedway to build a world-class, closed-course testing facility that will allow sophisticated development and validation of its autonomous on-road vehicles," to "measure bot performance in a broad range of scenarios, from avoiding pedestrians and pets to giving bicycles space on shared roadways."

The new funding will be used for commercialization of vehicles and will "assist Nuro in addressing long-standing pain points and shifting consumer trends accelerated by COVID-19." The company also signed a five-year strategic partnership with Google Cloud.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

November 02, 2021 14:06 ET (18:06 GMT)

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