Bot Auto Secures $20M in Pre-A Funding to Commercially Deploy Autonomous Trucking

HOUSTON--(BUSINESS WIRE)--Sep 26, 2024--

Bot Auto, a pioneering company in autonomous vehicle (AV) technology, based in Houston, Texas, announced the successful completion of its Pre-A funding round which was oversubscribed, raising $20 million. The round was led by prominent domestic and international investors: Brightway Future Venture, Cherubic Venture, EnvisionX Venture, First Star Venture, Linear Capital, M31 Capital, Taihill Venture, and Uphonest Venture. This significant investment will fuel Bot Auto's tech development for the next generation of autonomous trucking that focuses on safety and operation efficiency.

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Bot Auto truck on Texas highway. (Photo: Business Wire)

The Bot Auto team is composed of experienced AV executives and top engineering talent. This opportunity allows them to start an AV trucking company with a clean slate with the ability to leverage the cutting-edge AI technology of today. The combination of experience, industry maturation, and the AI revolution creates a game-changer in autonomous trucking.

Dr. Xiaodi Hou, Founder and CEO of Bot Auto, expressed his enthusiasm for the company’s future: “As true believers in autonomous trucking, we're thankful for our investors' shared vision. Our strong commitment, combined with recent AI advancements and a sharpened focus on operational efficiency, has created a clear path to commercialization. Our prospects for success have never been more promising. We march forward, committed to bringing this transformative technology to humanity for a brighter future.”

The funds raised will be focused on developing the technology while avoiding:

• Scaling the operational footprint prior to product readiness.
• Unnecessary hiring ahead of operational maturity.
• Over expansion and partnership debt that distracts from our mission.

Bot Auto’s vision aligns with the pioneering spirit of Houston’s legacy in space exploration, striving to achieve remarkable feats in technology and transportation. The company is dedicated to leveraging this investment to make significant strides in the US autonomous trucking industry, ultimately contributing to a more sustainable and efficient future.

About Bot Auto

Our mission is to revolutionize the transportation industry with our autonomous trucks, making a lasting positive impact on humanity. By leveraging advanced technology and our extensive experience in the AV industry, we aim to transform goods transportation into the future of sustainable and efficient logistics. Bot Auto operates a TAAS business model with our fleet of autonomous trucks.

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CONTACT: Media: Robert Brown-VP of Marketing

robert.brown@bot.auto619-916-9335

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TRUCKING AUTOMOTIVE TECHNOLOGY LOGISTICS/SUPPLY CHAIN MANAGEMENT TRANSPORT OTHER TECHNOLOGY AUTONOMOUS DRIVING/VEHICLES

SOURCE: Bot Auto

Copyright Business Wire 2024.

PUB: 09/26/2024 08:00 AM/DISC: 09/26/2024 08:00 AM

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