Sam Altman-backed Coco Robotics raises $80M

Coco Robotics, a Los Angeles-based startup specializing in last-mile delivery robots, has secured $80 million in a recent funding round. This round included contributions from angel investors Sam Altman and Max Altman, as well as VC firms like Pelion Venture Partners and Offline Ventures. With this latest investment, Coco's total funding exceeds $120 million. The company, which previously raised $36 million in a Series A round in 2021, has developed zero-emissions robots capable of carrying 90 liters of goods. Since their launch in 2020, these robots have completed over 500,000 deliveries and are used by national retailers such as Subway, Wingstop, and Jack in the Box.

Coco Robotics was founded in 2020 by Brad Squicciarini and Zach Rash. The company has also formed a partnership with OpenAI, allowing Coco to utilize OpenAI's technology while providing real-world data from its robots to help train OpenAI's models. This collaboration highlights Sam Altman's vested interest in Coco, as he is both a personal investor and connected through OpenAI.

Key takeaways

Coco Robotics, a Los Angeles-based startup, raised $80 million in funding, bringing its total funding to over $120 million.
Angel investors Sam Altman and Max Altman, along with VC firms like Pelion Venture Partners and Offline Ventures, participated in the funding round.
Coco's zero-emissions delivery robots have completed over 500,000 deliveries and work with national retailers like Subway, Wingstop, and Jack in the Box.
Coco has a partnership with OpenAI, allowing the use of OpenAI's technology while providing real-world data to train AI models.

Sam Altman-backed Coco Robotics raises $80M | TechCrunch

Key takeaways

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