OpenAI CEO Sam Altman and his brother Max Altman have returned to invest in startup Coco Robotics, which has raised $80 million to increase its fleet of zero-emissions delivery robots and further advance its AI platform.
Sam Altman-backed startup Coco Robotics has raised $80 million to increase its fleet of zero-emissions delivery robots and further advance its AI platform.
The company confirmed the funding comes from returning investors, including OpenAI CEO Sam and his brother Max Altman, as well as Outlander, and Pelion.
Coco Robotics has made more than half a million zero-emission deliveries via its robots so far, in cities such as Los Angeles and Miami, among others, and it is aiming to deploy more vehicles by the end of the year.
Zach Rash, CEO and Cofounder of Coco Robotics, said: “We’ve been very intentional about building technology and a business model based on unit economics that work today – not five years down the road.
“We’re now at the forefront of applying AI to solve real, everyday problems in urban logistics, and this funding helps us move faster – from advancing our AI platform to expanding our fleet globally.”
Saltwater CEO Ryan Graves is among the new investors, after he was “impressed” with Coco Robotics’ “grounded, capital-efficient approach to real-world autonomy”.
He said: “During my time scaling global ops at Uber, I saw first-hand how hard it is to build logistics systems that work at scale.
“What impressed me about Coco is their grounded, capital-efficient approach to real-world autonomy. They’re solving some of our most challenging problems for businesses, consumers, and cities today that will define our culture tomorrow.”
Sam Altman helps startup Coco Robotics to raise 80m to increase robot fleet
