This startup’s self-driving excavators help dig up $600M in new funding
Bedrock Robotics, which is now valued at $4.1 billion, is particularly focused on autonomous excavators, in part because of a growing shortage of skilled operators.
Key points
- Bedrock Robotics raised $600 million in a Series C round that values the two-year-old startup at $4.1 billion.
- The round was co-led by CapitalG and Emergence Capital and brings Bedrock's total funding to nearly $1 billion since its 2024 founding.
- Bedrock's self-driving kits are now retrofitted onto excavators working on active commercial sites in Nevada, Texas and a Zachry Construction project.
Bedrock Robotics has raised $600 million in a Series C funding round that values the autonomous vehicle technology startup at $4.1 billion. The round was co-led by CapitalG and Emergence Capital and comes two months after the company moved its self-driving excavators from testing and pilot programs onto active construction sites.
Founded in 2024 by veterans of the autonomous vehicle and robotics industries, Bedrock has now raised nearly $1 billion. Its self-driving kit can be retrofitted onto construction and other worksite vehicles.
Where the machines are working
Excavators equipped with Bedrock's autonomous-driving technology are now operating commercially at a Nevada water treatment facility, an earthwork site run by Champion Site Prep in Texas, and a 1.2 million-cubic-yard civil sitework project with Zachry Construction Corporation.
The company plans to use the new capital to deploy its technology at more construction sites and to expand the teams and infrastructure needed to support customers in the field. Its newest partner is Haydon, an Arizona-based general contractor that plans to use Bedrock-equipped machines on projects including advanced manufacturing facilities, water and wastewater, data centers and healthcare facilities.
We have proven that fully autonomous excavators can perform real work of value alongside the crews and workflows already in place on job sites.
— Boris Sofman
Labor shortage and investors
Bedrock points to a shortage of skilled operators as a reason to focus on autonomous excavators. The company says it takes five years or more to master operating an excavator, and the Associated Builders and Contractors estimates that more than 40% of construction workers will retire in the next five years.
New investors US Innovative Technology Fund, Bessemer Venture Partners and Temasek joined the round, alongside existing investors 8VC, Georgian, Valor Equity Partners, Xora, Eclipse, Perry Creek Capital and Nvidia. Bedrock also announced two executive hires: Amy Jones Satrom, a veteran of Amazon, Nuro and Uber, as vice president of operations, and Lando Juarez, formerly head of legal for Uber's autonomous mobility and delivery business, as general counsel.
