- Companies
- Coco
Coco Funding, Investors & Competitors
Coco has raised $122M across 3 funding rounds, most recently a $80M Series B in June 2025.
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
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
Website
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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2025 | Series B | Max Altman (lead); Sam Altman (lead); SNR.vc (lead); Outlander VC; Ryan Graves; Offline Ventures; Deepwater Asset Management; Pelion Venture Partners | $80M | Coco 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 2021 | Series A | Sam Altman (lead) | $36M | Coco 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 2020 | Seed | BBQ 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Aug 2021 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Lead | Jun 2025 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Jun 2025 | ||
This data is available for Pro users. Sign up to see all 9 Coco investors. Start Free Trial | ||||
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Start Free TrialCoco Competitors
Coco competitors include listed companies like Tesla and General Motors, and private ones like Zipline, Cowarobot, Dexterity and UISEE.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $7.6B | - | ||
| Private | $140M | - | $3B | 21.4x | ||
| Private | - | - | $1.4B | - | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $95B | $10B | $1.4T | 13.8x | ||
| Publicly listed | $185B | $15B | $76B | 1.0x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $89B | $12B | 1.2x | 1.2x | 9.2x | 8.8x | |||
| $185B | $15B | 1.0x | 1.0x | 12.1x | 8.5x | |||
| $12B | $6.5B | 7.2x | 6.8x | 13.6x | 13.9x | |||
| $95B | $11B | 1.1x | 1.1x | 9.5x | 9.9x | |||
| $95B | $13B | 1.0x | 1.0x | 7.8x | 7.4x | |||
| $54B | $10B | 1.1x | 1.0x | 5.9x | 5.4x | |||
| $38B | $3.6B | 1.6x | 1.3x | 16.4x | 11.5x | |||
This data is available for Pro users. Sign up to see all Coco competitors and their valuation data. Start Free Trial | ||||||||
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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