Chipotle invests in SoftBank-backed driverless delivery startup Nuro

(Reuters) – Chipotle Mexican Grill Inc claimed on Thursday it has invested in autonomous technologies enterprise Nuro as aspect of the startup’s latest funding round, a go that would aid the cafe chain bolster its supply network.

The expense by Chipotle in the SoftBank-backed Nuro was section of a series C funding round, led by T. Rowe Selling price Associates, wherever the startup raised $500 million.

The businesses did not disclose the phrases of the expense.

Nuro, which makes use of Prius cars and trucks outfitted with its self-driving technological innovation to deliver groceries and prescriptions for Kroger, Walmart and CVS in Houston, late final yr acquired the very first-at any time permit to commercially deploy its self-driving automobiles in California.

Early in 2019, Nuro elevated $940 million from SoftBank and a source near to the business experienced said the valuation doubled from this very last funding spherical to $5 billion. (reut.rs/3w76guj)

For the rapid-everyday chain, the financial commitment in Nuro builds on its presently sturdy electronic functions that have been a standout in the marketplace throughout the COVID-19 pandemic and has helped Chipotle ride out the worst of the affect.