Kodiak Robotics, an autonomous-vehicle startup founded by Don Burnette, previously a co-founder of the self-driving trucking company Otto, and Paz Eshel, a former venture capitalist, announced it has raised $40 million in Series A financing led by global investment firm Battery Ventures. CRV, Lightspeed Venture Partners and Tusk Ventures also participated in the round.
Burnette and Eshel founded Kodiak Robotics to bring new technologies to the long-haul trucking market. The company aims to alleviate the current strain on the freight market through self-driving technology. Burnette had previously co-founded Otto, which was acquired by Uber in 2016. Kodiak Robotics will use the financing to expand its team and for product development.