Coco Robotics Secures $80 Million to Expand Delivery Robot Fleet

Coco Robotics, a startup known for its fleet of cooler-sized delivery robots, has raised $80 million in a funding round led by venture capital firm SNR, according to Bloomberg. The round also saw participation from Pelion Venture Partners, Offline Ventures, and Max Altman, brother of OpenAI CEO Sam Altman.

With this latest investment, Coco Robotics, legally known as Cyan Robotics Inc., has raised over $110 million to date. The Santa Monica-based company currently operates around 1,300 electric robots in cities such as Miami, Chicago, Los Angeles, and Helsinki. The company has partnerships with major food delivery services like DoorDash and Uber Eats and is beginning to work directly with merchants.

Coco Robotics plans to use the new funds to enhance its technology and scale up its fleet, aiming to have at least 10,000 robots in operation by the end of next year. The company is also expanding its operations to major cities in the US and Europe, although specific locations have not been disclosed.

In March, Coco Robotics announced a collaboration with OpenAI to integrate advanced AI technology into its robots, enabling them to navigate obstacles and make real-time decisions. This partnership allows Coco to share urban delivery data with OpenAI, further enhancing the capabilities of its delivery robots.