Nvidia is latest investor to back AV startup Nuro in $203M funding round

Nvidia has joined a group of new investors backing autonomous vehicle startup Nuro in a $203 million Series E funding round. The round includes $97 million from new investors such as Icehouse Ventures, Kindred Ventures, Nvidia, and Pledge Ventures, alongside existing backer Baillie Gifford. Uber also participated, contributing a “multi-hundred-million dollar” investment as part of a broader partnership involving electric car maker Lucid. Nvidia’s involvement follows years of technical collaboration, with Nuro utilizing Nvidia GPUs and the Drive AGX Thor platform for its self-driving software development. The total Series E funding includes an earlier $106 million tranche announced in April, bringing Nuro’s total raised capital to $2.3 billion with a post-money valuation of $6 billion—a 30% decrease from its $8.6 billion valuation in 2021. Nuro has undergone significant strategic shifts amid challenging economic conditions and industry consolidation. After layoffs in 2022 and 2023,