Autonomous excavator developer Bedrock Robotics raises $600 million
US startup Bedrock Robotics has raised $600 million in a Series C round at a $4.1 billion valuation. It develops a self-driving kit that can be retrofitted onto existing construction machinery.
Bedrock Robotics, an autonomous vehicle technology startup building self-driving systems for construction machinery, has closed a $600 million Series C funding round that values the company at $4.1 billion. The round was co-led by investment firms CapitalG and Emergence Capital. Bedrock was founded in 2024 and has raised nearly $1 billion in total.
The company's kit can be retrofitted onto construction and other worksite vehicles. Two months ago, Bedrock moved its excavators from testing and pilot programs onto active construction sites. Excavators fitted with its technology now operate commercially at a water treatment facility in Nevada, at an earthwork site in Texas run by Champion Site Prep, and on a 1.2 million-cubic-yard civil sitework project with Zachry Construction Corporation.
Leadership and plans
Co-founder and CEO Boris Sofman previously led Waymo's now-shuttered self-driving trucks program and co-founded Anki Robotics, maker of the Cozmo robot, which shut down in 2019. Other co-founders are Kevin Peterson, chief technology officer; Ajay Gummalla, vice president of engineering and infrastructure; and Tom Eliaz, vice president of engineering and hardware.
The new capital is meant to speed up the shift to commercial work. The company plans to deploy its technology at more sites and expand the teams and infrastructure needed to support customers. "We have proven that fully autonomous excavators can perform real work of value alongside the crews and workflows already in place on job sites. The next challenge is delivering that capability to more contractors," Sofman said.
Why excavators
Bedrock points to a shortage of skilled operators: mastering an excavator takes five years or more, according to the company. The trade association Associated Builders and Contractors estimates that more than 40% of construction workers will retire within five years. The newest partner is Arizona-based general contractor Haydon, which plans to use Bedrock-equipped machines on projects including data centers and healthcare facilities.
New investors in the round include US Innovative Technology Fund, Bessemer Venture Partners and Temasek, alongside existing backers such as Nvidia. Bedrock also hired two executives: Amy Jones Satrom as vice president of operations and Lando Juarez as general counsel.
