• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Home
  • Subscribe
  • Your Membership
    • Edit Your Profile
  • Services
    • Advertising
    • Case studies
    • Design
    • Email marketing
    • Lead generation
    • Magazine
    • Press releases
    • Publishing
    • Sponsored posts
    • Webcasting
    • Webinars
    • White papers
    • Writing
  • Shop
    • My Account
    • Cart
  • About
    • Contact
    • Privacy
    • Terms of use
  • Events

Robotics & Automation News

Market trends and business perspectives

  • News
  • Features
  • Video
  • Webinars
  • White papers
  • Press releases
  • Featured companies
    • AMD Xilinx
    • BlueBotics
    • Elite Robot
    • RGo Robotics
    • SICK Sensor Intelligence
    • Vicor Power
trucks on highway

Kodiak Robotics raises $40 million to develop self-driving trucks

August 9, 2018 by Sam Francis

Kodiak Robotics has raised $40 million in Series A financing led by global investment firm Battery Ventures.

CRV, Lightspeed Venture Partners and Tusk Ventures also participated in the round.

Kodiak is an autonomous-vehicle startup founded by Don Burnette, previously a co-founder of the self-driving trucking company Otto, and Paz Eshel, a former venture capitalist. 

Burnette and Eshel founded Kodiak Robotics to bring new technologies to the long-haul trucking market.

Trucking is a key component of the US economy, says the company.

According to the American Trucking Associations, trucks move more than 70 percent of all US freight and generate over $700 billion in revenue annually.

While freight volume is at record levels, driven in part by the growth of e-commerce, the industry is struggling with a significant shortage of drivers.

The ATA estimated an industry shortage of 51,000 drivers at the end of last year, up from a shortage of 36,000 in 2016.

Burnette and Eshel founded Kodiak Robotics to alleviate the current strain on the freight market through self-driving technology.

In just three months, the two have assembled a world-class team of engineers with experience in actually shipping self-driving vehicles on public roads.

Burnette, Kodiak’s CEO, previously co-founded Otto, which was acquired by Uber in 2016. Earlier in his career, he was one of the early engineers on the self-driving car team at Google. Eshel most recently was a vice president at Battery Ventures, where he led the firm’s autonomous-vehicle investment project.

Burnette says: “This financing, coming just three months after founding Kodiak Robotics, is a huge validation for our vision.

“We believe self-driving trucks will likely be the first autonomous vehicles to support a viable business model, and we are proud to have the support of such high-profile investors to help us execute on our plan.”

Battery’s Itzik Parnafes says: “Autonomous driving is likely one of the most major technology shifts of the last 100 years.

“We have been researching this trend for several years and feel confident we are backing an experienced, savvy team that can capitalize on the opportunity in a unique way.”

Kodiak Robotics says it will use the financing to expand its team and for product development.

Print Friendly, PDF & Email

Share this:

  • Print
  • Facebook
  • LinkedIn
  • Reddit
  • Twitter
  • Tumblr
  • Pinterest
  • Skype
  • WhatsApp
  • Telegram
  • Pocket

You might also like…

Filed Under: News, Transportation Tagged With: driverless trucks, financing, kodiak robotics

Join the Robotics & Automation News community

Primary Sidebar

Latest articles

  • 5 Benefits of Using 3D Interior Design Models
  • How Packing Machines are Making Their Way into Garden Shops
  • Plastic Injection Molding Machines: Types and Benefits
  • 6 Safety Tips for Riding an Electric Bike
  • Essential Types of Contact Center Automations
  • Acieta unveils new collaborative robotic system for welding
  • Amazon to acquire iRobot for $1.7 billion
  • Will Automated Pre Roll Machines Boost Your Revenue?
  • Telexistence to install AI re-stocking robots in 300 convenience stores across Japan
  • Volvo Group to establish battery production plant in Sweden

Most Read

  • Top 20 electric vehicle charging station companies
    Top 20 electric vehicle charging station companies
  • Stäubli Robotics and Quantum Surgical partner to develop robotic platform for cancer surgery
    Stäubli Robotics and Quantum Surgical partner to develop robotic platform for cancer surgery
  • Difference Between Three-Phase and Single-Phase Power
    Difference Between Three-Phase and Single-Phase Power
  • Beyond Imagination receives order for 1,000 humanoid robots
    Beyond Imagination receives order for 1,000 humanoid robots
  • Kuka receives ‘record orders’ in first six months of year
    Kuka receives ‘record orders’ in first six months of year
  • Track your lost Android
    Track your lost Android
  • Top 20 programmable logic controller manufacturers
    Top 20 programmable logic controller manufacturers
  • Denso and Honeywell to develop electric engine for Lilium Jet
    Denso and Honeywell to develop electric engine for Lilium Jet
  • Top 25 vertical farming companies
    Top 25 vertical farming companies
  • The Best Mechanical Engineering Design Software in 2022
    The Best Mechanical Engineering Design Software in 2022

Overused words

abb ai applications automated automation automotive autonomous business china companies company control customers data design development digital electric global industrial industry logistics machine manufacturing market mobile platform process production robot robotic robotics robots safety software solution solutions system systems technologies technology time vehicle vehicles warehouse

Secondary Sidebar

Latest news

  • 5 Benefits of Using 3D Interior Design Models
  • How Packing Machines are Making Their Way into Garden Shops
  • Plastic Injection Molding Machines: Types and Benefits
  • 6 Safety Tips for Riding an Electric Bike
  • Essential Types of Contact Center Automations
  • Acieta unveils new collaborative robotic system for welding
  • Amazon to acquire iRobot for $1.7 billion
  • Will Automated Pre Roll Machines Boost Your Revenue?
  • Telexistence to install AI re-stocking robots in 300 convenience stores across Japan
  • Volvo Group to establish battery production plant in Sweden

Footer

We are…

Robotics and Automation News was established in May, 2015, and is now one of the most widely-read websites in its category.

Please consider supporting us by becoming a paying subscriber, or through advertising and sponsorships, or by purchasing products and services through our shop – or a combination of all of the above.

Thank you.

Independent

Archivists

August 2018
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Jul   Sep »

Complex

Old-skool

This website and its associated magazine, and weekly newsletter, are all produced by a small team of experienced journalists and media professionals.

If you have any suggestions or comments, feel free to contact us at any of the email addresses on our contact page.

We’d be happy to hear from you, and will always reply as soon as possible.

Future-facing

Free, fair and legal

We support the principles of net neutrality and equal opportunities.

Member of The Internet Defense League

Copyright © 2022 · News Pro on Genesis Framework · WordPress · Log in

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT