Los Angeles-based Coco Robotics, a startup specializing in last-mile delivery robots, has raised $80 million in a new funding round, bringing its total funding to over $120 million.
The funding round included contributions from returning angel investors Sam Altman and Max Altman, as well as venture capital firms such as Pelion Venture Partners and Offline Ventures. This investment follows a $36 million Series A round the company secured in 2021, demonstrating the continued confidence of investors in Coco Robotics’ potential.
Founded in 2020 by Brad Squicciarini and Zach Rash, Coco’s zero-emissions robots began street operations in the same year and have since completed over 500,000 deliveries. The robots are capable of carrying up to 90 liters of goods, making them a viable solution for last-mile delivery needs. Coco collaborates with various national retailers, including Subway, Wingstop, and Jack in the Box, expanding its reach and utility across different markets.
A significant development in Coco’s recent history is its partnership with OpenAI, announced in March. This collaboration allows Coco to utilize OpenAI’s technology while providing OpenAI with valuable real-world data collected by the robots to train its models. Notably, Sam Altman, an investor in Coco, is also the CEO of OpenAI, highlighting the interconnectedness of the two entities and the potential for further synergies.
