Sam Altman-backed Coco Robotics raises $80M
Los Angeles located Coco Roboticsa start-up building last-mile delivery robots, announced It collected $ 80 million on Wednesday.
The financing round included Angel Investors Sam Altman and Max Altman, both returning investors, in addition to VC companies such as Pelion Venture Partners and Offline Ventures, among other things.
This yields the total financing of the company to more than $ 120 million. The company last collected a series A round of $ 36 million in 2021.
Coco’s zero emissions Robots can have 90 liters of groceries or goods and have made more than 500,000 deliveries since they were on the street in 2020, the company said. It says it works with national retailers, including Subway, Wingstop and Jack in the Box.
Sam Altman’s financial importance in Coco is clear. Although he provides personal capital to the company, OpenAi apparently also gets an advantage. Coconut announced a partnership with OpenAi in March Making Coco OpenAi use, while the AI company receives the data from the real world that the robots collect to train its models.
The company was founded in 2020 by Brad Squicciarini and Zach Rash.
WAN reached to Coco for more information.
