Round size: $600M
Bedrock Robotics closed a $600 million Series C funding round at a $4.1 billion valuation, making it one of the year's largest robotics investments. The company develops autonomous excavators that combine computer vision, GPS, and machine learning to address skilled-operator shortages and construction automation demand.
Bedrock Robotics Inc. raised a $600 million Series C co-led by CapitalG and Emergence Capital, giving the autonomous construction machinery startup a $4.1 billion valuation and bringing its total fundraising to nearly $1 billion. Its valuation has risen sharply from $1.75 billion during a $270 million round in February. Since August, Bedrock's self-driving excavators have performed paid work on commercial job sites, and the company is now working to deploy more machines and improve their day-to-day reliability.
Bedrock Robotics has deployed fully autonomous, retrofitted heavy excavators onto active infrastructure projects in Texas and Nevada, marking the company's first operator-free deployments. The company, backed by $350 million in venture capital and led by former Waymo autonomy veterans, aims to address the construction industry's severe labor shortages, safety hazards, and cost overruns with its AI-driven earth-moving equipment.