SANTA MONICA, Calif., June 12, 2025 — Coco Robotics, a Santa Monica-based startup developing last-mile delivery robots, announced Wednesday that it has raised $80 million to expand its operations and deepen its technology partnerships.
The funding came from a mix of returning angel investors and venture capital firms. Among the individual investors were Sam Altman and Max Altman. Venture firms participating in the round included Pelion Venture Partners and Offline Ventures, among others.
While the announcement was presented as a new funding event, the $80 million total includes a blend of previously disclosed and undisclosed investments made between 2021 and 2024, according to a company spokesperson. This round marks a consolidation of financial support that has accumulated over the past four years.
Sam Altman contributed personally to the company. While his name now carries weight due to his leadership at OpenAI, Coco also has an ongoing business relationship with the AI firm itself. In March, Coco entered a partnership with OpenAI, allowing the startup to integrate OpenAI’s capabilities into its systems. In return, OpenAI gains access to real-world data collected by Coco’s robots, which it uses to improve its models.
A spokesperson for Coco confirmed that Sam was not involved in the negotiations with OpenAI and had made his last investment in the company more than six months before the deal was reached.
Founded in 2020, Coco’s delivery robots are designed to be fully electric and emissions-free. Each unit can hold up to 90 liters of goods, enabling it to carry groceries, meals and packages. According to the company, its fleet has completed more than 500,000 deliveries since first hitting the streets.
Coco currently partners with several national brands, including Subway, Wingstop and Jack in the Box. The robots are often used for short-range, on-demand deliveries in urban neighborhoods.
The company was founded by Brad Squicciarini and Zach Rash, both of whom continue to lead its strategic direction. With the latest funding, Coco plans to scale its delivery network, hire additional engineering talent and strengthen its collaborations with enterprise partners.
The company has not disclosed its valuation following this round.
Our robots have already completed more than half a million deliveries, and we’re just getting started.
