Coco Robotics is an exciting new company that was co-founded by Brad Squicciarini and Zach Rash in 2020. They recently hit the headlines when they announced their $80 million Series D funding round! This new round, led by super angels like Sam Altman and Max Altman, marks a huge bet on Coco. They have each been personally and professionally invested with the company since its inception. With the new funding, Coco’s total financing climbs to over $120 million. This comes on the heels of an impressive $36 million Series A round that closed in 2021.
Since launching in 2019, Coco Robotics has proven itself a leader in the delivery robot market. The small robots can hold the equivalent of about 90 liters of groceries or other goods. This new capability presents a promisingly efficient solution to the challenges of urban logistics. Since their introduction to the streets in 2020, Coco’s robots have completed over 500,000 deliveries, showcasing their reliability and effectiveness in meeting consumer needs.
The new funding round drew a Who’s Who of major VC firms. Pelion Venture Partners and Offline Ventures quickly boarded, eager to be part of Coco’s zero-emissions delivery system. Eco-friendly Coco’s environmentally friendly approach matches the increasing worldwide call for more sustainable transportation solutions.
In March of this year, though, Coco decided to leap straight to the market leader, announcing a strategic partnership with OpenAI. Coco uses OpenAI’s cutting-edge technologies as part of this partnership. In exchange, the nonprofit receives proprietary, real-world data that its robots automatically gather. This data will be instrumental in training OpenAI’s models, potentially enhancing the capabilities of artificial intelligence applications across various sectors.
Sam Altman was one of the principal investors in both Coco and OpenAI. He has a deep commitment to making this partnership work and prosper. This unique partnership accelerates Coco’s technological innovations. It further bolsters OpenAI’s avowed focus on using real-world data to develop safer AI systems.
As Coco Robotics raises the bar for innovation, they are proving what’s possible with autonomous delivery services. With substantial financial backing and strategic partnerships, the company is well-positioned to expand its operations and further innovate within the industry.
Leave a Reply