Autonomous excavator startup Bedrock Robotics raises $600 million at a $4.1 billion valuation

Bedrock Robotics, a startup that retrofits construction equipment with autonomous-driving technology, has raised $600 million in a Series C round that values the company at $4.1 billion, TechCrunch reported on Oct. 26. The company is just two years old.

The round was co-led by CapitalG and Emergence Capital. New investors US Innovative Technology Fund, Bessemer Venture Partners and Temasek joined existing backers including 8VC, Georgian, Valor Equity Partners, Eclipse and Nvidia. Bedrock has raised nearly $1 billion since it was founded in 2024.

The company has developed a self-driving kit that can be fitted to construction and other worksite vehicles. Two months ago it moved its autonomous excavators beyond testing and pilots onto active construction sites; they now operate commercially at a water treatment facility in Nevada, an earthwork site run by Champion Site Prep in Texas, and a 1.2 million-cubic-yard civil sitework project with Zachry Construction Corporation. Its newest partner, Arizona-based contractor Haydon, plans to use Bedrock-equipped machines on projects including advanced manufacturing facilities, water plants, data centers and healthcare facilities.

Co-founder and CEO Boris Sofman previously led Waymo's now-shuttered self-driving trucks program and co-founded Anki Robotics, maker of the Cozmo robot. "We have proven that fully autonomous excavators can perform real work of value alongside the crews and workflows already in place on job sites. The next challenge is delivering that capability to more contractors as a dependable part of how projects get built," he said.

Bedrock is betting on a shortage of skilled operators: it says mastering an excavator takes five years or more, while the Associated Builders and Contractors estimates more than 40% of construction workers will retire within five years. The new capital will fund deployments at more sites and expand the teams and infrastructure needed to support customers in the field. The company also hired Amy Jones Satrom as vice president of operations and Lando Juarez as general counsel.

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Sources: TechCrunch. Image: Bedrock Robotics (via TechCrunch).