Coco Robotics Raises $80 Million From SNR And Others For Autonomous Delivery Expansion

Coco Robotics, a Santa Monica-based startup, has raised $80 million in fresh funding to expand its fleet of autonomous delivery robots. This investment round was led by SNR, with participation from Pelion Venture Partners, Offline Ventures, and Max Altman, increasing the company's total funding to over $110 million.

Summary of transaction details:

• Deal Type: Funding Round
• Transaction Amount: $80,000,000
• Company Name: Coco Robotics
• Founded: 2020
• CEO: Zach Rash
• Headquarters: Santa Monica, California
• Notable Investors: SNR, Pelion Venture Partners, Offline Ventures, Max Altman & Sam Altman

Coco Robotics operates around 1,300 electric delivery robots across various cities, including Miami, Chicago, Los Angeles, and Helsinki. The company, also known as Cyan Robotics Inc., partners with major platforms like DoorDash and Uber Eats. Zach Rash aims to scale the fleet to at least 10,000 robots by the end of next year and is working with OpenAI to improve the robots' real-time navigation and obstacle avoidance capabilities.