Sam Altman-backed Coco Robotics raises $80M

Coco Robotics, a startup based in Los Angeles focused on last-mile delivery automation, has successfully raised $80 million in a recent funding round. This investment was backed by notable angel investors Sam Altman and Max Altman, both of whom have previously invested in the company. In addition, several venture capital firms, including Pelion Venture Partners and Offline Ventures, participated in this round. With this latest influx of capital, Coco Robotics has now amassed over $120 million in total funding. The company, which specializes in zero-emission delivery robots, has been operational since 2020 and boasts an impressive track record, having completed over 500,000 deliveries. Each of Coco's robots is designed to carry up to 90 liters of groceries and other goods, making them a practical solution for urban logistics. Partnering with major retailers like Subway, Wingstop, and Jack in the Box, Coco is strategically positioning itself within the competitive delivery landscape. Sam Altman's investment reflects his ongoing commitment to the startup, and it appears that OpenAI stands to benefit as well. Earlier this year, Coco Robotics announced a partnership with OpenAI, allowing the robotics company to leverage OpenAI's resources while simultaneously providing valuable real-world data that can enhance AI model training. Founded in 2020 by Brad Squicciarini and Zach Rash, Coco Robotics continues to innovate in the realm of delivery technology. TechCrunch has reached out for additional insights regarding the company’s future plans.