Coco Funding, Investors & Competitors

Coco has raised $122M across 3 funding rounds, most recently a $80M Series B in June 2025.

See full Coco profile

Last Coco funding round

$80M

Series B · Jun 2025

Cumulative funding Coco raised

$122M

across 3 funding rounds

Key investors in Coco

  • Sam Altman
  • Pelion Venture Partners
  • Offline Ventures
  • BBQ Capital
  • SNR.vc
  • Outlander VC
  • Max Altman
  • Deepwater Asset Management

Coco Overview

About Coco

Coco is a Santa Monica-headquartered last-mile delivery company deploying human-guided sidewalk robots for transporting food and goods. Operating in Los Angeles, Austin, and Houston since its February 2020 launch, the fleet serves restaurants including Umami Burger, Bangkok West Thai, and San Pedro Brewing Company with thousands of weekly deliveries. Coco partners with SBE Group brands to reduce emissions in urban areas.


Founded

2020

HQ

United StatesLos Angeles, CA

Status

Privately held

Customer focus

B2B

Revenue model

Services

Coco Funding History

Coco has raised a total of $122M across 3 funding rounds.

Coco's first fundraising round was a $6M seed round in November 2020. The most recent completed round was a $80M Series B in June 2025.

Coco funding rounds

Coco funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2025Series BMax Altman (lead); Sam Altman (lead); SNR.vc (lead); Outlander VC; Ryan Graves; Offline Ventures; Deepwater Asset Management; Pelion Venture Partners$80MCoco Robotics, founded in 2020 by Brad Squicciarini and Zach Rash (CEO), develops autonomous, zero-emissions delivery robots for last-mile logistics, capable of carrying 90 liters of groceries or goods. The Santa Monica/Los Angeles-based company operates around 1,300 electric robots in cities including Miami, Chicago, Los Angeles, and Helsinki, completing over 500,000 deliveries since 2020. It partners with platforms like DoorDash, Uber Eats, and retailers such as Subway, Wingstop, and Jack in the Box. In June 2025, Coco Robotics announced $80 million in strategic financing, described variably as new funding or a total including prior undisclosed rounds from 2021-2025, bringing cumulative capital raised to over $110-120 million. Investors included returning backers Sam Altman (OpenAI CEO), Max Altman, Pelion Venture Partners, Outlander VC, and new participants like SNR.vc (lead), Offline Ventures, Deepwater Asset Management, and Ryan Graves. The round supports fleet expansion toward 10,000 vehicles by 2026 and AI enhancements. Coco maintains a March 2025 partnership with OpenAI, integrating its models for robot navigation and obstacle avoidance while sharing real-world urban delivery data for AI training; Sam Altman invested personally and was uninvolved in partnership talks. The company competes in robotics-driven logistics, emphasizing sustainability and cost-efficiency over human delivery.
Aug 2021Series ASam Altman (lead)$36MCoco is a Los Angeles-based startup founded in 2020 that provides last-mile robotic delivery services using teleoperated sidewalk robots for food and retail from merchants to customers. The company raised $36 million in a Series A funding round announced around August 25, 2021, led by Sam Altman, Silicon Valley Bank, and Founders Fund, with participation from Sam Nazarian, Ellen Chen, and Mario Del Pero, bringing total funding to about $43 million. This round matched the specified investors and approximate date. Coco had launched operations in February 2020 and by mid-2021 was active in Santa Monica and five Los Angeles neighborhoods, partnering with national brands like SBE (Umami Burger) and local restaurants such as Bangkok West Thai and San Pedro Brewing Company. The company reported being out of the pilot phase, launching with dozens of new merchants daily, and employed around 120 people with plans to expand to over 1,000 by year-end amid pandemic-driven demand for robotic delivery. Funding was earmarked for hardware development, hiring, and expansion into additional U.S. cities, aiming to improve merchant and customer experiences in last-mile delivery without full autonomy to avoid regulatory hurdles. Subsequent developments included an $80 million round also led by Sam Altman, pushing total funding over $120 million, with operations scaling to cities like Miami, Austin, Dallas, Houston, Chicago, New York, and Helsinki by 2025, plus partnerships with DriveU.auto for remote operations and OpenAI for navigation AI.
Nov 2020SeedBBQ Capital$6M-

Who has invested in Coco?

9 investors have backed Coco across its funding rounds, including Sam Altman, Pelion Venture Partners, Offline Ventures, BBQ Capital, SNR.vc and Outlander VC.

Lead investors include Max Altman, Sam Altman and SNR.vc.


Coco Investors

Investors in Coco by funding rounds participated
InvestorHQRoundsRoleFirst check
Sam AltmanUnited StatesUnited States2LeadAug 2021
BBQ CapitalUnited StatesSan Francisco, CA1ParticipantNov 2020
Outlander VCUnited StatesAtlanta, GA1ParticipantJun 2025
Ryan GravesUnited StatesSan Francisco, CA1ParticipantJun 2025
Max AltmanUnited StatesUnited States1LeadJun 2025
Offline VenturesUnited StatesSan Francisco, CA1ParticipantJun 2025
Deepwater Asset ManagementUnited StatesMinneapolis, MN1ParticipantJun 2025

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Coco Competitors

Coco competitors include listed companies like Tesla and General Motors, and private ones like Zipline, Cowarobot, Dexterity and UISEE.

Public and private companies comparable to Coco
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ZiplineUnited StatesSan Francisco, CAPrivate--$7.6B-
CowarobotChinaShanghaiPrivate$140M-$3B21.4x
DexterityUnited StatesSan Francisco, CAPrivate--$1.4B-
UISEEChinaBeijingPrivate--$1.1B-
TeslaUnited StatesUnited StatesPublicly listed$95B$10B$1.4T13.8x
General MotorsUnited StatesUnited StatesPublicly listed$185B$15B$76B1.0x

Coco Public Comps

Coco is still privately-owned, but its public comps include Tesla, UPS, General Motors, Canadian National Railway, FedEx, Deutsche Post, Maersk, DSV, Adani Ports & Special and Poste Italiane.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Tesla$95B$10B15.0x13.8x140.8x97.4x
UPS$89B$12B1.2x1.2x9.2x8.8x
General Motors$185B$15B1.0x1.0x12.1x8.5x
Canadian National Railway$12B$6.5B7.2x6.8x13.6x13.9x
FedEx$95B$11B1.1x1.1x9.5x9.9x
Deutsche Post$95B$13B1.0x1.0x7.8x7.4x
Maersk$54B$10B1.1x1.0x5.9x5.4x
DSV$38B$3.6B1.6x1.3x16.4x11.5x

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Common questions about Coco

When was Coco founded?Coco was founded in 2020.
Where is Coco headquartered?Coco is headquartered in Los Angeles, CA, United States.
Is Coco publicly listed?No, Coco is a private, VC-backed company.
How much funding has Coco raised?Coco has raised $122M across 3 funding rounds.
What was Coco's last funding round?Coco's last funding round was a $80M Series B in June 2025, led by Max Altman, Sam Altman and SNR.vc.
Who are Coco's investors?Coco's investors include Sam Altman, BBQ Capital, Outlander VC, Ryan Graves, Max Altman, Offline Ventures, Deepwater Asset Management, SNR.vc and Pelion Venture Partners.
Which companies are comparable to Coco?Companies comparable to Coco include Zipline, Cowarobot, Dexterity, UISEE, Tesla and General Motors.

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