Nuro Raises $600 Million, Valuation Reaches $8.6 Billion
While the concept of mobility has often turned out to be a buzz phrase used by executives unsure of where to place hypothetical revenue streams and burgeoning technologies, it has simultaneously yielded a handful of enterprising business premises with the potential to stand on their own. Nuro, the American robotics company fielding pint-sized delivery drones, is among them and has made a case for itself by eliminating humans from the equation entirely and providing unique scenarios for its services.
The startup has been getting a smattering of positive attention since its formation in 2015 and recently raised $600 million during its latest funding round, bringing its valuation to an impressive $8.6 billion.
California Greenlights Autonomous Delivery Vehicles for Public Roads
On Tuesday, self-driving startup Nuro received a permit from the State of California to commence testing on certain public roads. Issued by the state’s Department of Motor Vehicles, the document allows its fleet of driverless delivery bots to mingle with traffic.
On a national level, Nuro’s vehicles are technically illegal without a smidgen of government help. U.S. Federal Motor Vehicle Safety Standards mandate road-going automobiles have things like windshields, airbags, and mirrors. Meanwhile, Nuro’s small delivery units don’t even have space for a driver — requiring the Department of Transportation to make regulatory exemptions for the brand in February after debating the issue for over a year.