Woven City backs robotics company Nuro

Woven Capital has made its first investment, backing Nuro, a leading robotics firm that designs and engineers self-driving road vehicles to transform local commerce through autonomous delivery.

Nuro has deployed two generations of lightweight autonomous delivery vehicles. Their second-generation vehicle, the R2, received the first and only exemption for an autonomous vehicle granted by the U.S. Department of Transportation and National Highway Traffic Safety Administration. R2 was also the first vehicle to operate fully autonomously on public roads across three different states – California, Texas and Arizona.

The investment forms part of Nuro’s Series C round of funding. This investment reflects Woven Capital’s commitment to backing companies that develop innovative technologies and business models that expand mobility, automation, artificial intelligence, data and analytics, and connectivity.

“Nuro has proven itself to be a true leader in autonomous vehicles for local goods delivery. Between their state-of-the-art technology and powerful partnerships with leading U.S. brands, they are revolutionizing everyday commerce -making it safer and more efficient,” said George Kellerman, Managing Director at Woven Capital.

“The company is primed for success in a post-covid world, where secure, user-friendly delivery is prized by consumers. Women Capital is excited about supporting Nuro’s next wave of growth since Woven Planet Group’s own broader vision of safe mobility for all makes Nuro a natural fit for our first investment.”

Established in January 2021, the Woven Capital is the investment arm of the Woven Planet Group, a Toyota subsidiary that recently commenced business, dedicated to building safe mobility.

Sources:

Toyota | Woven Capital Makes Its First Investment, Backing Nuro

Nuro | Nuro’s New Funding Round

30 March 2021

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