CapitalG and Emergence Capital led the financing. Bedrock plans to use the money to bring its excavator system to more contractors and build field-service support.
Bedrock Robotics said on October 26 that it had closed a $600 million Series C venture funding round to expand deployments of its autonomous excavator system and build field-service support for contractors.
SiliconANGLE said Alphabet’s CapitalG fund and Emergence Capital led the round. Nvidia, Bessemer and more than half a dozen other investors also participated. Bedrock says the financing values the company at nearly $1 billion.
The funding follows Bedrock’s stated start of paid work on commercial construction sites a few weeks earlier. Its next task is to make the system available to more contractors and provide the field support those deployments need.
Bedrock sells Bedrock Operator, an add-on system that the company says lets excavators navigate construction sites and move earth with minimal human input. It combines a computer inside the driver’s cabin with roof-mounted sensors that supply data for driving decisions. The computer uses an unspecified Nvidia chip.
Bedrock says the sensor array includes eight cameras and a lidar device, which uses laser light to detect nearby objects, including in low-light conditions. Co-founder and chief executive Boris Sofman described the company’s paid-work milestone as evidence that the machines can work within existing construction operations.
We have proven that fully autonomous excavators can perform real work of value alongside the crews and workflows already in place on job sites.
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