THE CRUNCH

Bedrock Robotics has raised $600 million in a Series C round co-led by CapitalG and Emergence Capital, valuing the two-year-old startup at $4.1 billion. The round comes two months after the company moved its autonomous excavators beyond testing and into commercial work on active construction sites.

Bedrock makes a self-driving kit that can be retrofitted onto construction and other worksite vehicles. Machines equipped with its technology are now operating commercially at a Nevada water treatment facility, a Texas earthwork site run by Champion Site Prep, and a 1.2 million-cubic-yard civil sitework project with Zachry Construction Corporation. The fresh capital will fund deployments at more sites, along with the teams and infrastructure to support customers in the field.

The company has now raised nearly $1 billion since its 2024 founding by autonomous vehicle and robotics veterans. Co-founder and CEO Boris Sofman previously led Waymo's now-shuttered self-driving trucks programme and co-founded Anki Robotics, maker of the Cozmo consumer robot. Fellow Waymo alumni Kevin Peterson and Ajay Gummalla round out the founding team, alongside Tom Eliaz.

Bedrock's focus on excavators is partly a bet on a labour squeeze. It says mastering an excavator takes five years or more, and the Associated Builders and Contractors trade association estimates more than 40% of construction workers will retire within five years. The startup's newest partner is Haydon, an Arizona-based general contractor that plans to use Bedrock-equipped machines on projects spanning data centres, water and wastewater, and healthcare facilities.

The round also included new investors USIT, Bessemer Venture Partners and Temasek, with returning backers including 8VC, Georgian, Valor Equity Partners and Nvidia. Bedrock has hired Amy Jones Satrom, previously of Amazon, Nuro and Uber, as vice president of operations, and Lando Juarez, formerly of Uber's autonomous business, as general counsel.

WHAT HAPPENS NEXT

Bedrock plans to deploy its technology at more construction sites and expand field support, while new partner Haydon prepares to use Bedrock-equipped machines across a range of projects.