Tuesday, 12 February 2019

Latest News - Why Uber’s Largest Investor Just Plowed Almost $1 Billion into Autonomous Vehicle Startup Nuro

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SoftBank has a lot of faith in a startup called Nuro that wants to use autonomous vehicles to disrupt the grocery delivery space. Nuro just banked almost $1 billion from the multinational holding conglomerate to make that happen. Major Uber Shareholder Throws $940 Million at Autonomous Vehicle Creator The Japan-based SoftBank — best known as Uber’s largest shareholder — is investing $940 million into the robotic-delivery vehicle startup. The investment pushes the Mountain View, Calif.-based company’s valuation to $2.7 billion. According to Reuters, SoftBank’s funding came through its $100 billion Vision Fund, which usually picks up big stakes in fast-growing technology companies.

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