Softbank which is multinational Japanese company has recently decided to expand its portfolio and decided to invest $940 million in an autonomous grocery delivery startup Nuro. Nuro is an autonomous grocery delivery startup which is run by the former employees of Alphabet whose focus is to produce self-driving vehicles for delivery of local goods around the grocery stores. Previously the company received more than $92 million of revenues from Softbank, Gaorong capital and with this latest round of funding company’s valuation has touched to $2.7 billion benchmarks.
Nuro has been in this industry from last few years, and so far it has delivered the right amount of services by using its R1 vehicle. The R1 is a custom made a vehicle which has two compartments in it, and each compartment can carry six grocery bags which makes it unique. Autonomous delivery of goods might not sound right since many people will be sceptical about such technology, but it seems like Nuro is rightly using advance tech. Company’s officials said that from last few years they’ve successfully built a great team and now they’re ready to provide unmanned services to grocery stores.
Now since the company has got a tremendous amount of funding from Softbank, some experts are saying that they can now use that money to build more high tech vehicles and can even hire skilled employees. Even though the company hasn’t given its comment regarding its plans, it seems like this funding will help the company to explore more new opportunities. This funding has come from Softbank vision fund which is a portfolio of $100 billion through this fund Softbank invest in fast-growing startups. Softbank has already invested in many autonomous vehicle ventures which are trying to solve the modern world’s problems by creating some fascinating technology.
The global heat transfer fluid market is poised to grow at a CAGR of 5.6%…
The Calcium Hypochlorite market is poised for substantial growth, projected to reach around USD 2317.9…
The Sodium Metabisulfite Market is poised for significant growth, with a projected value of USD…
activated alumina market size is expected to be worth around USD 1724 Million by 2033, from USD 1018.9 Million…
The bio fungicides market is poised for significant growth, with projections indicating a valuation of…
The hydrogen generation market is forecasted to see substantial growth, reaching USD 489.2 billion by…
The Hydrogen Peroxide Market, valued at USD 3.2 Billion in 2023, is projected to exhibit…
The global bauxite market exhibited significant value and growth trends over recent years. In 2022,…
The aerogel market has demonstrated significant growth, with its valuation reaching USD 876.5 million in…
biobased disinfectant market size was valued at USD 4.5 Billion and it is estimated to reach USD 8.7 billion…
The Concrete Sealer Market is poised for substantial growth, with projections estimating its value to…
The Ammonium Sulfate Market is poised for significant growth, projected to reach approximately USD 6.1…
The cathode material market, integral to advancements in battery technology, has been valued at USD…
The flat glass market, known for its essential role in various industries, is on a…
The Special Graphite Market, valued at USD 785.5 million in 2022, is projected to reach…
The Black Pellets Market is poised for significant growth, with a projected Compound Annual Growth…
The nanosized alumina market, valued at $3.0 billion in 2022, is expected to grow to…
The global methanol market is on a robust growth trajectory, with projections indicating a rise…
The E-Liquids market is set to experience remarkable growth, with a projected Compound Annual Growth…
The PVC market is anticipated to achieve a substantial valuation of USD 94.7 billion by…