Kodiak Robotics, an autonomous truck manufacturer, has received an undisclosed amount of funding from BMW i Ventures, BMW’s venture capital arm.
The company intends to utilize the funds to improve the safety of its autonomous technology to fast-track commercialization. The funds will also be allocated to expanding the team and its fleet (currently 10 vehicles), aiming to double the number of vehicles each year.
The news comes within days after Kodiak Robotics raised an undisclosed amount of funds from the tire-making company Bridgestone Americas. In addition to the funds raised, the two companies also announced a strategic partnership to integrate and pilot Bridgestone’s smart-sensing tire technologies and fleet solutions in Kodiak's autonomous trucks. However, the investment from BMW i Ventures is purely financial, with no strategic partnership between the two.
Kodiak Robotics develops Level-4 autonomous trucks (i.e., fully autonomous vehicles limited to specific locations and/or conditions) for long-haul transportation. In August 2019, the company began commercial deliveries on Texas highways with its fleet of eight class 8 autonomous trucks. In January of this year, the company reported completing more than 800 miles of highway driving in Texas without any disengagements (without interventions from safety drivers). The company plans to introduce trucks without a safety driver by 2023.
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