Sam Altman-backed Coco Robotics raises $80M

Coco Robotics, a Los Angeles-based startup specializing in last-mile delivery robots, has raised $80 million in a new funding round, bringing its total capital raised to over $120 million. The round included returning angel investors Sam Altman and Max Altman, alongside venture capital firms such as Pelion Venture Partners and Offline Ventures. Previously, Coco secured a $36 million Series A round in 2021. Founded in 2020 by Brad Squicciarini and Zach Rash, the company’s zero-emissions robots have completed more than 500,000 deliveries since launching in 2020 and can carry up to 90 liters of groceries or goods. Coco partners with national retailers including Subway, Wingstop, and Jack in the Box. Sam Altman’s involvement extends beyond personal investment; Coco benefits from access to OpenAI’s technology, while OpenAI gains valuable real-world data collected by Coco’s robots to enhance its AI models. This symbiotic relationship underscores the strategic value of the partnership