Coco Robotics Raises $80M Backed by Sam Altman

Delivery Robot Startup Secures Major Funding Round

Coco Robotics, the Los Angeles-based autonomous delivery startup, has secured an impressive $80 million investment. The funding round saw participation from prominent investors including Sam Altman and his brother Max Altman, along with venture capital firms Pelion Venture Partners and Offline Ventures.

Funding Milestones and Growth Trajectory

This latest investment brings Coco’s total funding to over $120 million, building on their previous $36 million Series A round in 2021. Founded in 2020 by Brad Squicciarini and Zach Rash, the company has rapidly expanded its robotic delivery operations.

Eco-Friendly Delivery Solutions

Coco’s zero-emission robots are making waves in last-mile delivery, with capacity for 90 liters of goods. Since launching operations in 2020, these autonomous vehicles have successfully completed more than 500,000 deliveries for major national chains including Subway, Wingstop, and Jack in the Box.

Strategic AI Partnership with OpenAI

The investment from Sam Altman reflects more than just financial backing. In March 2024, Coco announced a research collaboration with OpenAI, where the startup gains access to OpenAI’s cutting-edge AI tools while providing valuable real-world data from robot operations to enhance AI model training.

With this significant funding injection and powerful industry connections, Coco Robotics is positioned to accelerate its mission of transforming last-mile delivery through autonomous technology and artificial intelligence.