A Los Angeles-based startup, Coco Robotics, announced the successful raising of $80 million in funding, further advancing the development of its zero-emission delivery robots. Since its launch in 2020, Coco's robots have completed over 500,000 deliveries, showcasing their strong capabilities in last-mile delivery.
The investors in this round of financing include prominent angel investors Sam Altman and Max Altman, both of whom are veteran investors in Coco. Additionally, support came from venture capital firms such as Pelion Venture Partners and Offline Ventures. This round of funding brings Coco Robotics' total financing to over $120 million, demonstrating investor confidence in the company's future development. Notably, Coco Robotics successfully completed a $36 million Series A financing round in 2021.
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Coco Robotics' delivery robots can hold up to 90 liters of groceries or merchandise, primarily partnering with national retailers such as Subway, Wingstop, and Jack in the Box to provide consumers with convenient delivery services. The company is committed to achieving zero emissions, promoting sustainable development, and transforming traditional delivery methods.
In its collaboration with OpenAI, Coco Robotics not only has access to OpenAI's technology but will also provide data collected during real-world operations to OpenAI. This mutually beneficial partnership enables Coco to continuously improve its robot technology, while OpenAI can use these data to train its artificial intelligence models.
Since its founding in 2020 by Brad Squicciarini and Zach Rash, Coco Robotics has consistently focused on combining technological innovation with environmental protection. With the arrival of this funding, Coco will accelerate the expansion of its market share, striving to secure a place in the future intelligent delivery sector.
Key points:
🚀 Coco Robotics announced the successful fundraising of $80 million, with a total financing exceeding $120 million.
🤖 The company's zero-emission delivery robots have completed more than 500,000 deliveries, partnering with well-known retailers.
🤝 Coco has established a cooperative relationship with OpenAI, sharing data and technology to promote the intelligence development of robots.