Kodiak Robotics to expand autonomous trucking with $125M

Kodiak Robotics, a startup developing self-driving truck technologies, today announced that it raised $125 million in an oversubscribed series B round for a total of $165 million to date. The tranche — which includes investments from SIP Global Partners, Lightspeed Venture Partners, Battery Ventures, CRV, Muirwoods Ventures, Harpoon Ventures, StepStone Group, Gopher Asset Management, Walleye Capital, Aliya Capital Partners, and others — will be put toward expanding Kodiak’s team, adding trucks to its fleet, and growing its autonomous service capabilities, according to CEO Don Burnette…

While autonomous trucks could face challenges in commercializing at scale until clearer regulatory guidelines are established, the technology has the potential to reduce the cost of trucking from $1.65 per mile to $1.30 per mile by mid-decade, according to a Pitchbook analysis. That’s perhaps why in the first half of 2021, investors poured a record $5.6 billion into driverless trucking companies, eclipsing the $4.2 billion invested in all of 2020.