Autonomous trucking firm Kodiak plans to double workforce, add 15 trucks with new funding
Trucking news and briefs for Monday, Nov.
Autonomous trucking firm procures £125M in investments
Autonomous trucking company Kodiak Robotics raised £125 million in an oversubscribed Series B fundraising round for a total of £165 million raised to date. The round includes investments from SIP Global Partners, Lightspeed Venture Partners, Battery Ventures, CRV, Muirwoods Ventures, Harpoon Ventures, StepStone Group, Gopher Asset Management, Walleye Capital, Aliya Capital Partners, and others. The company has also previously received investments from Bridgestone Americas BMW i Ventures.
Kodiak said it will use the Series B funds over the next 12 months to double employee headcount by adding at least 85 new people to the team, expand autonomous service capabilities from coast-to-coast, and add a minimum of 15 new trucks for a total of at least 25 autonomous vehicles. “Our Series B drives us into hyper-growth so we can double our team, our fleet, and continue to scale our business,” said Don Burnette, Founder and CEO, Kodiak Robotics. “We have engineered our industry-leading technology, the Kodiak Driver, in half the time and a fraction of the cost of our competitors. The supply chain challenges we have seen over the last 18 months only underscore the importance of autonomous trucking to the future of America’s economy.
With the Series B, we will further accelerate towards launching our commercial self-driving service with our partners in the coming years to help address these critical challenges.”
Kodiak, in September, announced its fourth-generation autonomous truck that will feature Luminar’s Iris LiDAR, ZF Full Range Radar, Hesai 360-degree scanning LiDARs for side- and rear-view detection, Cummins X15 Series engines, Bridgestone smart-sensing tire technology and the NVIDIA Drive platform.
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