Coco Robotics Raises $80-Million Series B Round for Autonomous Vehicles

Venice Beach-based Coco Robotics, an urban delivery startup that delivers food and packages using small autonomous robots, secured $80 million from OpenAI founder Sam Altman and other investors. The financing round was led by venture capital firm SNR, with participation from Pelion Venture Partners, Offline Ventures and Max Altman, Sam’s brother. The company has now raised more than $110 million since its inception in 2020.

Coco Robotics, which recently relocated from Santa Monica to Venice Beach, currently has a fleet of about 1,300 cooler-sized electric robots operating across cities that include Los Angeles, Miami, Chicago and Helsinki. The company’s delivery system is integrated into logistics platforms from Uber Technologies Inc. and DoorDash Inc.

The company’s electric vehicles are human-operated. They have made 500,000 deliveries and traveled more than 1 million miles.

Information for this article was sourced from Coco Robotics.