Bedrock, an AI startup for construction, raises $270 million

When it comes to autonomous vehicles, companies like Waymo and Tesla that operate fleets of robotaxis come to mind first.

But a new startup is focusing on a different goal: automating multiton excavators and other construction vehicles to speed the building of housing, data centers and more.

Bedrock Robotics plans to announce Wednesday that it has raised $270 million in a new fundraising round, valuing the roughly year-old startup at $1.75 billion. The round was led by CapitalG, an investment arm of Alphabet, Google’s parent company, and the Valor Atreides AI Fund; other investors included 8VC and the venture arm of Nvidia.