Bedrock Robotics startup raises $600 million at a $4.1 billion valuation — TechCrunch
Bedrock Robotics, a startup whose technology is already being used at construction sites in the United States, has raised $600 million in a Series C round at a company valuation of $4.1 billion. The round was co-led by CapitalG and Emergence Capital, TechCrunch reports.
The company has developed an autonomous control kit that can be installed on excavators and other equipment for work sites. Excavators equipped with this technology are already operating commercially at a water treatment facility in Nevada, at Champion Site Prep's earthworks site in Texas, and on a 1.2 million-cubic-yard civil earthworks project with Zachry Construction Corporation.
Transition to commercial operation
The new round came two months after Bedrock Robotics began using autonomous excavators not only in tests and pilot programs, but also at active construction sites. The company plans to direct the funds raised toward deploying the technology at more sites, as well as expanding its teams and infrastructure to support customers.
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Co-founder and CEO Boris Sofman said the company had demonstrated that fully autonomous excavators can perform useful work alongside existing crews and within current site processes. He named delivering this technology to more contractors as a reliable component of construction work as the next task.
Bet on the shortage of operators
Bedrock Robotics is focusing on autonomous excavators because of a shortage of qualified operators. According to the company, learning to operate an excavator requires at least five years. Industry association Associated Builders and Contractors expects that more than 40% of construction workers will retire over the next five years.
The startup's new partner is Arizona-based general contractor Haydon, which plans to use equipment with Bedrock systems at advanced manufacturing, water supply and wastewater facilities, data centers, and healthcare facilities. New investors in the round included US Innovative Technology Fund, Bessemer Venture Partners, and Temasek, as well as previous investors, including 8VC, Georgian, Valor Equity Partners, Xora, Eclipse, Perry Creek Capital, and Nvidia. Since its founding in 2024, Bedrock Robotics has raised nearly $1 billion.
