Kodiak Robotics Raises $125M to Grow Autonomous Truck Operations
November 10, 2021
Kodiak Robotics, which is developing self-driving trucking systems, has announced it raised $125 million in an oversubscribed Series B round, for a total of $165 million raised to date. The company said it will use the new funding over the next 12 months to double employee headcount by adding at least 85 new people to the team, expand autonomous service capabilities from coast to coast, and add a minimum of 15 new trucks for a total of at least 25 autonomous vehicles.
The round includes investments from SIP Global Partners, Lightspeed Venture Partners, Battery Ventures, CRV, Muirwoods Ventures, Harpoon Ventures, StepStone Group, Gopher Asset Management, Walleye Capital, Aliya Capital Partners, and others. Bridgestone Americas and BMW i Ventures have also made recent investments.
“Our Series B drives us into hyper-growth so we can double our team, our fleet, and continue to scale our business,” said Don Burnette, founder and CEO of Kodiak Robotics. “We have engineered our industry-leading technology, the Kodiak Driver, in half the time and a fraction of the cost of our competitors. The supply chain challenges we have seen over the last 18 months only underscore the importance of autonomous trucking to the future of America’s economy. With the Series B, we will further accelerate towards launching our commercial self-driving service with our partners in the coming years to help address these critical challenges.”
The company recently unveiled its next generation of autonomous trucks, which uses a modular and discrete sensor approach to vastly simplify installation and maintenance, while increasing safety. Kodiak hauls freight daily for a range of industry partners, including some of the nation’s largest carriers and brands, and has done so since 2019.
More details on the company are available at the Kodiak Robotics website.