Nuro, a New Zealand-founded autonomous vehicle company, has raised US$203 million from global investors Uber and Nvidia, alongside Icehouse Ventures.
The funding supports expansion of Nuro’s self-driving technology and integration with Lucid’s robotaxis.
Funding Valuation and Purpose
The latest funding round values Nuro at US$6 billion, slightly lower than three years ago during the pandemic. The capital will support the company’s self-driving vehicle technology and its partnership with Lucid on robotaxis.
“It only took us raising $200 million to get Robbie’s attention. But never mind—better late than never. We’re very excited.” Ferguson remarked during a Zoom appearance at the Auckland Showcase.
Funding Round and Investor Perspectives
The round was led by Uber and Nvidia, with Icehouse Ventures contributing US$5 million. Icehouse CEO Robbie Paul highlighted the significance of the investment for Kiwi business leadership. “That Icehouse Ventures is investing in Nuro alongside the world’s most valuable company and Uber is thanks especially to Kea and Sir Stephen Tindall,” he said.
Ferguson added a long-term perspective on autonomous driving adoption: “Your kids, I’m guessing, will still get licences, but probably in the five to 10 years after they’ve gotten their licences very few people are going to be driving anymore.”
Nuro’s Autonomous Technology in Action
Nuro developed its self-driving technology during pilot programmes with Domino’s and Kroger in Houston between 2021 and 2022. The company now supplies AI software for Lucid’s prototype robotaxi, currently tested on closed roads in Las Vegas in collaboration with Uber.
“We use both short and long-range cameras—similar to the eyes we have—and lidar [laser imaging, detection and ranging] to shoot lasers and create a 3D point cloud of the whole environment. We also use radar to get distance and velocity measurements for other vehicles… Thermal cameras are also in the mix, used to detect the heat signature of people and animals—particularly at night. And we also have microphones for emergency vehicles or siren detection.”
Market Implications and Regulatory Context
Ferguson predicts the arrival of self-driving Ubers in New Zealand within five to ten years. “Uber will have self-driving vehicles in the next five to ten years,” he said. “They’ll have them in New Zealand, but there will still be personally-owned vehicles, too… Those personally owned vehicles are going to transition to be fully autonomous.”
He praised the Kiwi regulatory environment, calling it “very reasonable,” while noting New Zealand is yet to fully allow Tesla’s self-driving platform.
Kiwi Expat Success on the Global AI Stage
Nuro is part of a growing cohort of New Zealanders leading AI innovation internationally, alongside figures such as Paul Copplestone (Supabase), Nic Lane (Flower), Alex Kendall (Wayve), and Ben Goodger (OpenAI). “From Nuro to Substack, we’re seeing more and more pioneering New Zealand business people leading in all manner of industries.” Paul stated.