“Autonomous driving is likely one of the most major technology shifts of the last 100 years,” said Parnafes in a press release. “We have been researching this trend for several years and feel confident we are backing an experienced, savvy team that can capitalize on the opportunity in a unique way.”
Founded by Don Burnette, a co-founder of self-driving trucking company Otto (which was acquired by Uber in 2016), and Paz Eshel, a former venture capitalist, Kodiak aims to alleviate the strain on the freight market through self-driving technology. While freight volume is at record levels, there is a significant shortage of drivers. In fact, the American Trucking Association (ATA) estimated an industry shortage of 51,000 drivers at the end of 2017, compared to a shortage of 36,000 in 2016.
In just three months, Kodiak has hired a world-class team of engineers, with experience in shipping self-driving vehicles on public roads.
Earlier in Burnette’s career (before Otto), he was one of the early engineers of Google‘s self-driving car team. Eshel was most recently a VP at Battery Ventures, where he led its autonomous-vehicle investment project.
“This financing, coming just three months after founding Kodiak Robotics, is a huge validation for our vision,” Burnette said. “We believe self-driving trucks will likely be the first autonomous vehicles to support a viable business model, and we are proud to have the support of such high-profile investors to help us execute on our plan.”
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Kodiak Robotics will use the funds to expand its team and further product development.
