Bedrock Robotics, a San Francisco startup that retrofits construction excavators to run on their own, said Monday it raised a $600 million Series C at a $4.1 billion post-money valuation. CapitalG and Emergence Capital co-led the round.
Why it matters: The deal is one of the biggest bets yet on "physical AI" outside of robotaxis, and it comes from a team of former Waymo engineers based in San Francisco.
Who invested
New investors include the US Innovative Technology Fund, Bessemer Venture Partners and Temasek. Existing backers 8VC, Georgian, Valor Equity Partners, Xora, Eclipse, Perry Creek Capital and Nvidia also took part, according to the company's announcement. Bedrock's total funding is now nearly $1 billion.
Machines already doing paid work
The company says that in mid-August its fully autonomous excavators began doing paid work on live commercial job sites. It says its customer volume has more than doubled since 2025.
Arizona contractor Haydon is the newest partner, deploying the system for autonomous earthwork on a remote site in Texas. Bedrock also listed new customers in Minnesota, Florida, Virginia, Colorado, Missouri, Georgia and Arkansas.
"We have proven that fully autonomous excavators can perform real work of value alongside the crews and workflows already in place on job sites," co-founder and CEO Boris Sofman said.
New executives
Bedrock hired Amy Jones Satrom as vice president of operations and Lando Juarez, formerly head of legal for Uber's autonomous mobility and delivery business, as general counsel.
The round roughly doubles the valuation from a $270 million Series B at a reported $1.75 billion valuation in February, Venture Capital Tracker noted. Founded in 2024, the company says it is starting with excavators and building toward mixed fleets that coordinate across a whole job site.