SoftBank Invests $940 Million in Nuro Startup

February 11, 2019 at 1:57 PM

Japan’s SoftBank Vision Fund has invested $940 million in, a California-based startup that makes self-driving delivery vehicles.

SoftBank’s latest deal follows a $2.3 billion investment in General Motors Co.’s Cruise Automation autonomous vehicle unit last May. The company also holds stakes in ride-hailing services DiDi, GrabTaxi and Uber.

Nuro was valued at $1.7 billion before the latest investment round. The startup began evaluating its R1 driverless delivery pod with grocery chain Kroger Co. last August.