Woven Capital, L.P. (Woven Capital), an $800 million global investment fund that supports growth-stage companies in mobility, made an equity investment in Nuro, Inc. (Nuro), a leading robotics company providing autonomous delivery. The investment is part of Nuro’s Series C round of funding, advancing its work in designing and engineering self-driving road vehicles to transform local commerce through autonomous delivery, Toyota said in its news release on Thursday.
“This marks the first investment from Woven Capital. The fund was established in January 2021 as the investment arm of Woven Planet Group, Toyota subsidiaries which started the business recently, dedicated to building the safest mobility in the world. The move by Woven Capital reflects their commitment to backing companies which develop innovative technologies and business models that further mobility, automation, artificial intelligence, data and analytics, connectivity, and smart cities.
“Woven Capital is an $800 million global investment fund that supports growth-stage companies focused on technology and innovation in mobility. It was founded in 2021 as the corporate venture capital investment arm of Woven Planet Group. Woven Capital invests in mobility technologies, automation, artificial intelligence, data and analytics, connectivity and smart cities globally.
“Woven Planet Group is on a mission to design a happier planet through secure, connected mobility solutions. Woven Planet Group builds upon the operations of Toyota Research Institute – Advanced Development to bring its vision, “Mobility to Love, Safety to Live” to life. Under this shared goal, Woven Planet Group’s four companies, Woven Planet Holdings, Woven Core, Woven Alpha and Woven Capital are transforming how people live, work, and play through new innovations and investment in automated driving, robotics, smart cities, and more.
“Nuro is the leader in autonomous delivery using robotics to improve everyday life. The company’s fleet of on-road, fully occupantless and autonomous vehicles are designed to deliver everyday goods to consumers ranging from groceries to pizza to prescriptions in a way that is quick, affordable, and most importantly, safe. Nuro is on a mission to fundamentally change the last mile of local delivery for consumers and businesses alike, while using the power of robotics for the greater good. Nuro has announced partnerships with Kroger, Domino’s, Walmart, CVS and other leading companies.”
George Kellerman, Managing Director, Woven Capital said, “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. The company is primed for success in a post-Covid world, where secure, user-friendly delivery is prized by consumers. Woven 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.”
Dave Ferguson, Co-founder and President Nuro said, “Woven Capital’s focus on safe mobility and leading-edge technology, as well as their roots in Toyota, make them an ideal investment partner. Their team has a deep understanding and appreciation of our work to create a real world, autonomous delivery service, and with their backing, we are excited to shape the future of mobility and improve people’s lives.”