The Bot Company, a robotics startup co-founded by former Cruise CEO Kyle Vogt, has raised $150 million in a new funding round led by Greenoaks, pushing its valuation to an impressive $2 billion. The raise comes despite the company being less than a year old and having yet to release a commercial product or generate revenue—highlighting investor confidence in its vision and leadership.
Founded alongside Paril Jain, a former AI lead at Tesla, and Luke Holoubek, a former Cruise software engineer, The Bot Company is focused on building AI-powered household robots. Unlike humanoid robots, the company’s prototypes are designed with a simple base and gripping mechanisms to handle everyday domestic tasks with agility and precision.
This new investment follows an earlier $150 million round from backers including Spark Capital and Nat Friedman, former CEO of GitHub. The previous round had valued the startup at $550 million, meaning its valuation has more than tripled in just a few months.
The startup’s mission centers around integrating artificial intelligence into robotics in a way that allows machines to intuitively learn and perform new tasks in home environments. Vogt and his co-founders believe this adaptive approach will unlock a new wave of useful, accessible robots tailored for personal and household assistance.
Investor enthusiasm reflects a broader trend: global venture capital funding for robotics surged to $6.1 billion in 2024, marking a 19% increase year-over-year. Much of this momentum is being driven by advances in AI that promise to make robots more intelligent, flexible, and cost-effective.
As The Bot Company continues to scale, its early valuation milestones and high-profile leadership position it as a rising force in the race to bring intelligent domestic automation into everyday life.
