Kodiak Robotics Secures $125 mln to Make Mass Autonomous Trucking A Reality

Kodiak Robotics, a transportation startup based in Mountain View, has secured $125 in Series B funding to continue its mission to redefine the long-haul trucking industry.

The oversubscribed round brings the total funding raised by the startup to $165 million with participation from SIP Global Partners, Lightspeed Venture Partners, Battery Ventures, CRV, Muirwoods Ventures, Harpoon Ventures, StepStone Group, Gopher Asset Management, Walleye Capital, and Aliya Capital Partners. Don Burnette, Founder and CEO, Kodiak Robotics, referred to the round’s success by stating:

“Our Series B drives us into hyper-growth so we can double our team, our fleet, and continue to scale our business. 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.”

Founded in 2018, Kodiak Robotics has experienced rapid growth as demand for its autonomous trucking technology has increased. At this time, the startup is delivering freight on a daily basis between Dallas and Houston without the need for a human driver, reducing costs and increasing performance in the process. Burnette said on this:

“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. “

Despite the logistical challenges that operating autonomous trucks represent, operators have grown increasingly comfortable when it comes to using autonomous trucks over the past years as new technologies continue to emerge. The use of this type of vehicle was also positively influenced by the supply chain crisis resulting from the COVID19 pandemic, which further highlighted the existence of a driver shortage that had been taking place for years.

The new funding will allow Kodiak Robotics to grow its team by doubling its headcount and expanding its service capabilities across the United States by adding 15 new trucks to its fleet. The startup believes that this approach will allow it to become a major player in the autonomous trucking industry, helping alleviate the stress placed on drivers and supply chain managers in recent times.