Coco Robotics Secures $80M in New Funding to Expand Zero-Emissions Delivery Robots

Coco Robotics, a Los Angeles-based startup that specializes in last-mile delivery robots, has secured $80 million in a new funding round. Announced on Wednesday, the investment comes from a mix of notable figures, including returning angel investors Sam Altman and Max Altman, as well as venture capital firms such as Pelion Venture Partners and Offline Ventures. This latest round pushes Coco's total funding to over $120 million. Previously, the company raised $36 million in a Series A round in 2021. Founded in 2020 by Brad Squicciarini and Zach Rash, Coco Robotics aims to revolutionize local delivery services with its eco-friendly robots. Each robot can carry up to 90 liters of goods, making them capable of delivering groceries and other items efficiently. Since their deployment in 2020, these robots have completed over 500,000 deliveries, according to the company. They work alongside major national retailers including Subway, Wingstop, and Jack in the Box, expanding their reach and reliability. Sam Altman's involvement extends beyond his personal financial commitment. In March, Coco Robotics announced a partnership with OpenAI, a company Altman leads. This collaboration allows Coco to utilize OpenAI's advanced technologies while providing real-world data from its delivery robots to help train OpenAI's models, creating a mutually beneficial relationship. TechCrunch reached out to Coco Robotics for further details on the partnership and how the company plans to use the new funding. While specific plans have not been disclosed, the company’s founders are likely to emphasize scaling operations, enhancing robot capabilities, and expanding their market presence. In addition to the fundraising announcement, Coco Robotics continues to focus on sustainability and innovation. The zero-emissions robots are designed to reduce carbon footprints and offer an environmentally friendly alternative to traditional delivery methods. With a solid foundation and significant capital infusion, Coco Robotics is poised to play a key role in reshaping the future of last-mile delivery. Those interested in learning more about the latest trends in tech and investment, including the advancements in robotics and artificial intelligence, can attend the upcoming TechCrunch All Stage event in Boston, MA, on July 15. The event promises strategies, workshops, and meaningful connections with industry leaders from Precursor Ventures, NEA, Index Ventures, and Underscore VC, among others. Early registration offers a $200 discount, making it an excellent opportunity to gain insights and network with top tech professionals.