Former Cruise CEO Kyle Vogt's Robotics Startup Secures $150M Funding Boost

Former Cruise CEO Kyle Vogt’s Robotics Startup Secures $150M Funding Boost

The Bot Company, an innovative robotics startup founded by Kyle Vogt, a former co-founder and CEO of Cruise, has successfully secured $150 million in its latest funding round. This investment round was led by Greenoaks Capital, as reported by Reuters, citing anonymous sources.

About The Bot Company

Founded by Kyle Vogt, along with Paril Jain, a former leader of the AI tech team at Tesla, and Luke Holoubek, a former software engineer at Cruise, The Bot Company aims to revolutionize household chores with advanced robotics. The company launched in May 2023, initially raising $150 million from a diverse group of investors including:

  • Nat Friedman, former CEO of GitHub
  • Daniel Gross, founder of Pioneer
  • Nabeel Hyatt, general partner at Spark Capital
  • Patrick Collison, CEO of Stripe
  • John Collison, co-founder of Stripe
  • Quiet Capital

Recent Funding Round Details

This recent funding milestone occurs less than a year after the company’s inception. The financial backing will significantly aid The Bot Company in its mission to develop innovative robots designed for domestic tasks.

Kyle Vogt’s Transition from Cruise

The Bot Company was established shortly after Vogt’s resignation as CEO of Cruise, an autonomous vehicle startup he founded in 2013. His departure followed a serious incident on October 2, where a Cruise vehicle was involved in an accident that resulted in a pedestrian being dragged for 20 feet after initially being struck by a human-driven car.

Future Prospects for The Bot Company

As The Bot Company continues to develop its robotics solutions, industry experts are closely monitoring its progress. The startup’s focus on making household chores easier could place it at the forefront of the robotics market.

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For more information on the robotics industry and funding trends, consider visiting MIT Technology Review or check out our related articles on robotics funding news.

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