Los Angeles-based Coco Robotics, a startup constructing last-mile supply robots, introduced it raised $80 million on Wednesday.
The funding spherical included angel traders Sam Altman and Max Altman, each returning traders, along with VC corporations like Pelion Enterprise Companions and Offline Ventures, amongst others.
This brings the corporate’s complete funding to greater than $120 million. The corporate final raised a $36 million Sequence A spherical in 2021.
Coco’s zero-emissions robots can maintain 90 liters’ price of groceries or items and have made greater than 500,000 deliveries since they hit the streets in 2020, the corporate mentioned. It says it really works with nationwide retailers, together with Subway, Wingstop, and Jack within the Field.
Sam Altman’s monetary curiosity in Coco is obvious. Whereas he’s personally offering capital to the corporate, OpenAI apparently will get a profit too. Coco introduced a partnership with OpenAI in March which permits Coco to make use of OpenAI whereas the AI firm positive factors the real-world information the robots accumulate to coach its fashions.
The corporate was based in 2020 by Brad Squicciarini and Zach Rash.
iinfoai reached out to Coco for extra info.
