Los Angeles-based Cocorobot announced it had raised $80 million on Wednesday as it is a startup building last mile delivery robots.
The funding round included VC companies such as Perion Venture Partners and offline ventures, as well as angel investors Sam Altman and Max Altman, both return investors.
This brings the company’s total capital to over $120 million. The company last raised a $36 million Series A round in 2021.
Coco’s zero-emission robots have been able to hold 90 liters of groceries and goods since its arrival on the streets in 2020, and have delivered over 500,000 items. It says it will work with national retailers like Subway, Wingstop and Jack in the Box.
Sam Altman’s financial interest in Coco is clear. He personally provides capital to the company, but Openai seems to be profiting too. Coco announced its partnership with Openai in March. This allows CoCo to use Openai. AI companies acquire real-world data for robots to collect and train models.
The company was founded in 2020 by Brad Squicciali and Zach Rash.
TechCrunch contacted CoCo for more details.