Kodiak Robotics, a self-driving truck startup, has raised $125 million in funding to continue development of autonomous systems for the future of first-mile logistics.
Kodiak has to date raised $165 million with this round being led by SIP Global Partners, Lightspeed Venture Partners, Battery Ventures, CRV, Muirwoods Ventures, Harpoon Ventures, StepStone Group and many more.
The company has been in development of its Kodiak Driver technology that will enable 18-wheeler trucks to be operated autonomously.
“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,” said Don Burnette, founder and CEO at Kodiak Robotics. “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 Driver is a technology stack built for long-haul trucks and the funds will be used in the next 12 months to double its employee headcount by adding at least 85 new people to the team, expanding self-driving capabilities and adding a minimum of 15 new trucks for a total of at least 25 autonomous vehicles in its fleet.
Kodiak has been making moves in 2021, most recently unveiling its next generation of autonomous trucks using a modular and discrete sensor approach to simplify installation and maintenance. The company also committed to doubling the size of its fleet by the fourth quarter of 2021.
Kodiak placed an order for an additional 15 trucks to be delivered in the next year, which will more than double the company’s fleet size and help expand its business delivering freight for commercial customers in Texas and beyond. Kodiak said it will expand throughout the southern half of the U.S. in the next few years.
Additionally, the company got a minor investment from Bridgestone Americas that will allow Kodiak to integrate its smart-sensing tire technologies and fleet solutions into its Level 4 autonomous trucks.