Los Angeles-based Coco Robotics, a startup specializing in last-mile delivery robots, announced on Wednesday that it has raised $80 million in a new funding round. This latest investment brings the company’s total funding to over $120 million.
The funding round included contributions from returning angel investors Sam Altman and Max Altman, as well as venture capital firms such as Pelion Venture Partners and Offline Ventures. This follows a $36 million Series A round the company secured in 2021.
Founded in 2020 by Brad Squicciarini and Zach Rash, Coco’s zero-emissions robots began street operations in the same year. Capable of carrying up to 90 liters of goods, the robots have completed over 500,000 deliveries to date. Coco collaborates with various national retailers, including Subway, Wingstop, and Jack in the Box.
Notably, Coco announced a partnership with OpenAI in March. This collaboration grants Coco the ability to utilize OpenAI’s technology while providing OpenAI with valuable real-world data collected by the robots to train its models. Sam Altman, an investor in Coco, is also the CEO of OpenAI, highlighting the interconnectedness of the two entities.
