Chipotle Mexican Grill said on Thursday it has invested in autonomous technology company Nuro as part of the startup's latest funding round, a move that would help the restaurant chain bolster its delivery network.
The investment by Chipotle in the SoftBank-backed Nuro was part of a series C funding round, led by T. Rowe Price Associates, where the startup raised $500 million.
The companies did not disclose the terms of the investment.
Nuro, which uses Prius cars outfitted with its self-driving technology to deliver groceries and prescriptions for Kroger, Walmart and CVS in Houston, late last year got the first-ever permit to commercially deploy its self-driving vehicles in California.
Early in 2019, Nuro raised $940 million from SoftBank and a source close to the company had said the valuation doubled from this last funding round to $5 billion.
For the fast-casual chain, the investment in Nuro builds on its already strong digital operations that have been a standout in the industry during the COVID-19 pandemic and has helped Chipotle ride out the worst of the impact.