Bedrock Robotics Raises $600 Million at $4.1 Billion Valuation

Bedrock Robotics raised $600 million in a Series C round at a $4.1 billion post-money valuation, the company said in a press release. CapitalG and Emergence Capital co-led the round, with new investors US Innovative Technology Fund, Bessemer Venture Partners and Temasek, and existing backers including 8VC, Eclipse and NVIDIA. Bedrock's total funding is now nearly $1 billion.

The San Francisco company builds software that makes existing heavy construction equipment such as excavators drive itself. It said its fully autonomous excavators began doing paid work on live commercial job sites in mid-August, and that it has doubled its customer base. The money will go to more deployments with contractors and the field operations behind each machine.