Uber nears $500M investment in self-driving startup Nuro, sources reveal

• Uber's total commitment to Nuro approaches $500 million, including an unreported follow-on investment substantially larger than its initial funding, with releases tied to development and commercial milestones
• First milestones have been met on schedule, with driverless testing planned for later in 2025, passenger service expected by year-end, and service ramp-up targeted for 2026 in the San Francisco Bay Area
• The investment positions Uber as a platform player in the accelerating robotaxi industry, with partnerships including Waymo, Baidu, Rivian, and Wayve, plus a separate $500 million commitment to Lucid for vehicle supply

Summary: Uber Nears $500M Investment in Self-Driving Startup Nuro

Key Investment Details:

Uber has committed nearly $500 million to self-driving startup Nuro, according to sources familiar with the matter. This includes an initial $203 million funding round that valued Nuro at $6 billion, plus a significant unreported follow-on investment. Additional funding is tied to specific development and commercial milestones.

Partnership Structure:

The investment is part of a three-way collaboration between Uber, Nuro, and Lucid Motors to deploy robotaxis using Lucid's Gravity SUVs and midsize vehicles equipped with Nuro's autonomous technology on Uber's platform. Uber previously committed $500 million to Lucid separately.

Milestone Progress:

Several early milestones have already been met on schedule, triggering fund releases. Upcoming targets include testing without safety drivers (later 2025), carrying passengers in driverless vehicles (end of 2025), and scaling the service in 2026. Nuro received California permits in April for driverless testing in select counties and began testing with safety drivers in May.

Market Context:

The robotaxi industry is experiencing renewed momentum after years of setbacks, with major players including Tesla, Alphabet's Waymo, and Amazon's Zoox accelerating development. Uber is positioning itself as a platform provider, partnering with multiple autonomous vehicle companies including Waymo, Baidu, Rivian, and Wayve.

Company Background:

Nuro pivoted in 2024 from making small delivery robots to licensing self-driving software. The startup is backed by Nvidia and SoftBank. Commercial launch is expected in the San Francisco Bay Area later this year.