Goodwin Advises Bedrock Robotics on $600 Million Series C

The Technology team advised Bedrock Robotics ("Bedrock") on its $600 million Series C financing at a $4.1 billion post-money valuation, co-led by CapitalG and Emergence Capital. The round included new investors US Innovative Technology Fund (USIT), Bessemer Venture Partners, and Temasek, alongside existing investors 8VC, Georgian, Valor Equity Partners, Xora, Eclipse, Perry Creek Capital, NVIDIA, and others. This brings Bedrock’s total funding to nearly $1 billion and will accelerate the volume of Bedrock-equipped machines across commercial construction sites in the US, helping contractors put existing heavy equipment to work more safely, predictably, and at greater capacity.

Bedrock Robotics is building autonomous systems for heavy equipment to accelerate the work that builds our world. Based in San Francisco, the company is led by former Waymo engineers who helped pioneer the systems that made fully autonomous vehicles a reality on public roads. Bedrock is bringing that expertise first to construction equipment, developing technology that helps contractors protect their crews, put more machines to productive use, and take on more of the essential infrastructure projects the United States needs built. The company works alongside leading general contractors to co-develop autonomous solutions that retrofit existing machines, starting with excavators and building toward mixed fleets that can self-orchestrate across an entire job site.

The Goodwin team was led by Dane Patterson, Evelynn Chun, Ellie Krossa, and Seva Castleberry.

For more information on the deal, please read the press release.