Horizon Technology Finance Provides $30M to Kodiak Robotics
October 11, 2022
Horizon Technology Finance Corporation, a specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, has announced it provided $30 million to autonomous trucking company Kodiak Robotics in the form of a growth capital credit facility.
Based in Mountain View, Calif., Kodiak delivers freight daily across Texas and Oklahoma for several commercial partners, including Werner Enterprises, CEVA Logistics, U.S. Xpress, and 10 Roads Express. It is currently developing long-haul trucks designed to make the freight industry safer and more efficient.
“Kodiak is on the forefront of autonomous driving for commercial vehicles, providing innovative freight solutions which can fundamentally change supply chains for the better,” said Gerald A. Michaud, president of Horizon. “We are excited to support Kodiak as it further expands its suite of solutions and revolutionizes how we think about the future of freight transport.”
“We are very pleased to receive Horizon’s support as we build on our vision to become the world’s safest and most efficient driver,” said Don Burnette, Founder and Chief Executive Officer, Kodiak. “We firmly believe that self-driving trucking technology will make roads safer and supply chains more efficient and resilient while reducing emissions and improving quality of life for truck drivers. Horizon’s support will allow us to continue to scale the Kodiak Driver: the industry’s most advanced technology stack. We look forward to working with Horizon to continue to transform trucking.”
For more details on Kodiak Robotics, visit its website here.
