Autonomous vehicle startup Kodiak Robotics have announced they have raised $40 million in a Series A financing round. The company, based in Mountain View, California, was founded by Israeli Paz Eshel, a former venture capitalist, and American Don Burnette, a co-founder of self-driving trucking company Otto and former software technical lead at Uber.
The round was led by global investment firm Battery Ventures. CRV, Lightspeed Venture Partners and Tusk Ventures also participated in in the round. The startup will use the funds for product development and expansion of the team.
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Kodiak Robotics will use the financing to expand its team and for product development.
The co-founders established Kodiak Robotics in 2018 to “bring new technologies to the long-haul trucking market” and ” to alleviate the current strain on the freight market through self-driving technology,” a statement said. According to the statement, the two have assembled a team of world-class engineers with experience in shipping self-driving vehicles on public roads in just three months.