Coco Robotics has secured \$80 million in new strategic financing aimed at expanding its autonomous delivery operations and enhancing its artificial intelligence platform. The Los Angeles-based company plans to use the funding to scale its vehicle fleet and broaden its enterprise partnerships, with the goal of deploying 10,000 autonomous delivery vehicles by 2026.
The investment round includes continued backing from existing investors such as Sam and Max Altman, Pelion, Outlander, and SNR, along with new participation from Offline, DeepWater, and Ryan Graves, former Senior Vice President of Global Operations at Uber and current CEO of Saltwater.
Coco Robotics reports having completed over 500,000 deliveries in cities including Los Angeles, Chicago, and Miami, as well as in Helsinki, which marks its first entry into the European market. The company emphasizes a capital-efficient model in its development of real-world autonomous delivery technology.
According to Coco Robotics CEO and co-founder Zach Rash, the company is applying AI to address logistical challenges in urban delivery systems. Its services are currently integrated with platforms such as Uber and DoorDash.
