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Kyle Vogt's The Bot Company Raises $150M, Valued at $550M for Household Robots

May 13, 2024, 09:41 PM

Kyle Vogt, the co-founder and former CEO of Cruise, has launched a new venture, The Bot Company, focused on developing household robots. Vogt, who resigned from Cruise six months ago following an incident where a woman was dragged by a Cruise vehicle, successfully raised $150 million for this startup, which has achieved a post-money valuation of $550 million. The funding round was co-led by Spark Capital, Nat Friedman, and Dan, with significant contributions from other investors. The Bot Company aims to create robots that perform household chores, leveraging the expertise of a team that includes former engineers from Tesla's Full Self-Driving division.