SoftBank pumps a staggering $940 million into autonomous delivery startup Nuro

It would seem as though that any product or service with the word autonomous in it gets heads turning. Autonomous vehicles have grabbed the attention of many of the large venture capitalists and automotive corporations, causing them to invest hundreds of millions of dollars into the technology. After Amazon debuted its automated delivery bot, the technology community was suddenly awakened to the possibility of a new industry.

Nuro, the autonomous delivery startup has raised a mind-boggling $940 million in capital. This massive infusion of cash came from none other than the SoftBank Vision Fund. Nuro has successfully raised over $1 billion in overall funding from other investors, Greylock Partners and Gaorong Capital.

The company stated that the money will be used to hire new talent, increase its fleet, and scale up its operations. The ambitious startup aims to apply its technology to bridge the gap between retailers and customers. In any type of e-commerce supply chain, the last mile delivery has its own logistical issues and using autonomous robots seems like an excellent choice. The company currently operates robots that can carry up to six grocery bags. However, it had initially opted for Toyota Prius vehicles, but later on switched over to the robots. The latest round of financing is one of the single largest investments that SoftBank has ever made.

Armed with a staggering $100 billion, SoftBank has invested in several iconic companies that include Chinese Alibaba, Uber, WeWork, NVIDIA, and many others.