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SoftBank's Next Bet: $940M Into Autonomous Delivery Startup Nuro

Original Content Publication Date: 02/14/2019

Summary

SoftBank hasn't been keeping all of its eggs in one autonomous vehicle basket. The most recent investment of $940M went to Nuro, the autonomous food delivery service, running their trials in Scottsdale, AZ. Nuro connects the retailer to its customers through last-mile grocery delivery and they are out of the lab and onto the streets. SoftBank also invested $2.25B in GM's AV unit, Cruise, along with others so when AV takes off the venture will be a part of it no matter who it is.

Key Points

  • SoftBank made a $940M investment in the autonomous delivery service, Nuro
  • This is just the most recent investment into autonomous vehicles from SoftBank who invested $2.25 into GM's Cruise
  • SoftBank is now competing against itself through all the funding they've spread through the AV market

Discussion Questions

  • Why would SoftBank invest so much into a company just doing autonomous delivery?
  • What benefits does SoftBank get from investing into multiple AV companies attempting the same thing instead of just one?

REFERENCE

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