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The investors in this round include angel investors Sam Altman and Max Altman, both returning backers of the company, along with venture capital firms such as Pelion Venture Partners and Offline Ventures.
This brings the company's total funding to over $120 million. The last time Coco raised funds was in 2021, when it secured $36 million in a Series A round.
Coco’s zero-emission robots can carry up to 90 liters of groceries or goods and have completed over 500,000 deliveries since being deployed in 2020. The company says it partners with national retailers, including Subway, Wingstop, and Jack in the Box.
Sam Altman’s financial interest in Coco is evident. Not only has he personally funded the company, but OpenAI has also benefited. In March, Coco announced a partnership with OpenAI, allowing the company access to OpenAI’s technology while providing the AI firm with real-world data collected by the robots to train its models.
The company was founded in 2020 by Brad Squicciarini and Zach Rash.
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