and the distribution of digital products.
Altman-backed Coco Robotics quietly secures $80M
Coco Robotics, a Los Angeles-based startup specializing in last-mile delivery robots, secured $80 million in funding, the company said Wednesday.
The funding round saw participation from angel investors Sam Altman and Max Altman, both of whom had previously invested. Venture capital firms such as Pelion Venture Partners and Offline Ventures also joined the round.
Including this latest investment, Coco Robotics has now raised over $120 million in total funding. The company’s previous funding round was a $36 million Series A, which occurred in 2021.
Founded in 2020 by Brad Squicciarini and Zach Rash, Coco Robotics’ zero-emissions robots are designed to carry up to 90 liters of groceries or other goods. Since their introduction in 2020, these robots have completed more than 500,000 deliveries, according to the company.
Coco Robotics reports partnerships with national retailers, including Subway, Wingstop, and Jack in the Box.
In March, Coco announced a partnership with OpenAI, which allows Coco to utilize OpenAI technology. In return, OpenAI gains access to real-world data collected by Coco’s robots to train its AI models.