Sam Altman-Backed Coco Raises $80M
Delivery Robotics Startup Secures Major Funding
Los Angeles-based Coco Robotics, an innovative last-mile delivery robot company, has successfully raised $80 million in new funding. The announcement marks a significant milestone for the autonomous delivery sector as companies race to revolutionize urban logistics.
Investor Spotlight: Altman Brothers Return
The funding round attracted notable backers including Sam Altman and Max Altman as returning investors. They were joined by prominent VC firms:
- Pelion Venture Partners
- Offline Ventures
- Other undisclosed investors
This latest injection of capital brings Coco’s total funding to over $120 million, demonstrating strong market confidence in their autonomous delivery solutions. The company previously closed a $36 million Series A in 2021.
Eco-Friendly Delivery Solutions Scaling Up
Coco’s zero-emission robots boast an impressive 90-liter capacity, capable of transporting groceries and goods efficiently. Since launching in 2020, the fleet has completed:
- Over 500,000 deliveries
- Partnerships with major chains including Subway, Wingstop, and Jack in the Box
Strategic AI Partnership with OpenAI
The connection to Sam Altman extends beyond financial backing. Coco recently announced a research collaboration with OpenAI that creates mutual benefits:
- Coco gains access to OpenAI’s advanced AI capabilities
- OpenAI receives valuable real-world data from robot operations to enhance machine learning models
Founded in 2020 by Brad Squicciarini and Zach Rash, Coco continues to expand its footprint in the competitive autonomous delivery market. This latest funding round positions the company for accelerated growth as demand for sustainable last-mile solutions increases.
The company’s technological advancements in robotics and AI-powered logistics represent a significant step forward in urban delivery innovation.