Kodiak Robotics Raises $125 Million Series B

<p><strong><span class&equals;"xn-location">MOUNTAIN VIEW <&sol;span><&sol;strong>&&num;8212&semi; <u>Kodiak Robotics&comma; Inc&period;<&sol;u>&comma; a self-driving trucking company&comma; has raised <span class&equals;"xn-money">&dollar;125 million<&sol;span> in an oversubscribed Series B fundraising round for a total of <span class&equals;"xn-money">&dollar;165 million<&sol;span> raised to date&period; The round includes investments from <u>SIP Global Partners<&sol;u>&comma; <u>Lightspeed Venture Partners<&sol;u>&comma; <u>Battery Ventures<&sol;u>&comma; <u>CRV<&sol;u>&comma; <u>Muirwoods Ventures<&sol;u>&comma; <u>Harpoon Ventures<&sol;u>&comma; <u>StepStone Group<&sol;u>&comma; <u>Gopher Asset Management<&sol;u>&comma; <u>Walleye Capital<&sol;u>&comma; <u>Aliya Capital Partners<&sol;u>&comma; and others&period;<&sol;p>&NewLine;<p>Kodiak delivers freight daily for its customers between <span class&equals;"xn-location">Dallas-Fort Worth<&sol;span> and <span class&equals;"xn-location">Houston<&sol;span>&comma; operating autonomously on the highway portion of the route&period; In <span class&equals;"xn-chron">January 2021<&sol;span>&comma; Kodiak became the first company in the autonomous trucking industry to announce disengage-free customer deliveries&comma; and released footage of over 1000 miles of disengage-free driving&period;<&sol;p>&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<p>&&num;8220&semi;Our Series B drives us into hyper-growth so we can double our team&comma; our fleet&comma; and continue to scale our business&comma;&&num;8221&semi; said <span class&equals;"xn-person">Don Burnette<&sol;span>&comma; Founder and CEO&comma; Kodiak Robotics&period; &&num;8220&semi;We have engineered our industry-leading technology&comma; the Kodiak Driver&comma; in half the time and a fraction of the cost of our competitors&period; The supply chain challenges we have seen over the last 18 months only underscore the importance of autonomous trucking to the future of America&&num;8217&semi;s economy&period; With the Series B&comma; we will further accelerate towards launching our commercial self-driving service with our partners in the coming years to help address these critical challenges&period;&&num;8221&semi;<&sol;p>&NewLine;<&sol;div>&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<p>Kodiak is building the industry&&num;8217&semi;s most advanced technology stack purpose-built specifically for long-haul trucks&period; The company said it will use the Series B funds over the next 12 months to double employee headcount by <u>adding<&sol;u> at least 85 new people to the team&comma; expand autonomous service capabilities from coast-to-coast&comma; and add a minimum of 15 new trucks for a total of at least 25 autonomous vehicles&period;<&sol;p>&NewLine;<p>The company recently unveiled its <u>next generation<&sol;u> autonomous trucks&comma; which uses a modular and discrete sensor approach to vastly simplify installation and maintenance&comma; while increasing safety&period; Kodiak hauls freight daily for a range of industry partners&comma; including some of the nation&&num;8217&semi;s largest carriers and brands&comma; and has done so since 2019&period;<&sol;p>&NewLine;<&sol;div>&NewLine;