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Horizon Technology Finance Provides $30MM of Growth Capital to Kodiak Robotics

October 12, 2022, 07:55 AM
Filed Under: Trucking

Horizon Technology Finance provided $30 million to Kodiak Robotics, Inc. ("Kodiak") in the form of a growth capital credit facility.

Kodiak is a leading developer of self-driving long-haul trucks designed to make the freight industry safer and more efficient. Based in Mountain View, California with an operations hub in Dallas, Texas, Kodiak delivers daily freight across Texas and Oklahoma for a range of commercial partners, including Werner Enterprises, CEVA Logistics, U.S. Xpress, and 10 Roads Express. Kodiak is backed by a consortium of premier investors including SIP Global Partners, The Pilot Company, Bridgestone Americas, Battery Ventures, Lightspeed Venture Partners and CRV.

"Kodiak is on the forefront of autonomous driving for commercial vehicles, providing innovative freight solutions which can fundamentally change supply chains for the better," said Gerald A. Michaud, President of Horizon. "We are excited to support Kodiak as it further expands its suite of solutions and revolutionizes how we think about the future of freight transport."

"We are very pleased to receive Horizon's support as we build on our vision to become the world's safest and most efficient driver," said Don Burnette, Founder and Chief Executive Officer, Kodiak. "We firmly believe that self-driving trucking technology will make roads safer and supply chains more efficient and resilient while reducing emissions and improving quality of life for truck drivers. Horizon's support will allow us to continue to scale the Kodiak Driver: the industry's most advanced technology stack. We look forward to working with Horizon to continue to transform trucking."

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