Kyle Vogt, the former CEO of Cruise, has raised $150 million for a new robotics startup called The Bot Company. The company’s post-money valuation is $550 million, with investors including Spark Capital and Nat Friedman. The company, co-founded by Vogt, Luke Holoubek, and Paril Jain, aims to develop hardware and software for at-home robots that can perform tasks like housekeeping and laundry. The robots may be customizable based on user requests, similar to a Discord-like chat server.
The robotics sector has seen a significant investment boom in recent months, with companies like Figure AI receiving billions in funding for their humanoid robots. Figure AI announced a collaboration with BMW and aims to deploy robots in auto factories within the next 12-18 months. Other companies in the robotics space are focusing on different aspects of the technology, with some developing general-purpose hardware and software while others are focusing solely on software or non-humanoid robots for industrial use cases.
Vogt’s new venture represents a fresh start for him, as he has a long-standing interest in robotics. He started his career by competing on the TV show BattleBots and interned at iRobot, the creator of Roomba, during his time at MIT. Vogt later co-founded Twitch before starting Cruise in 2013. During his time at Cruise, Vogt faced challenges related to safety concerns, including an incident where a Cruise vehicle dragged a pedestrian, leading to regulatory issues and a halt in operations. Vogt resigned from Cruise in November amid controversy.
Despite the challenges Vogt faced at Cruise, his new venture is expected to leverage his experience in self-driving vehicles to tackle the technical challenges of developing standalone robots. The company’s focus on consumer-oriented robots with customizable features could set it apart in the competitive robotics market. With Vogt’s track record of successful exits in the tech industry, investors are likely to keep a close eye on The Bot Company’s progress and potential impact on the robotics industry.
As the robotics sector continues to evolve and attract significant investment, companies like The Bot Company have the opportunity to disrupt the market with innovative products and technologies. With a strong founding team and backing from prominent investors, Vogt’s new venture could play a key role in shaping the future of robotics. It remains to be seen how The Bot Company will differentiate itself in a crowded market and whether it can deliver on its ambitious vision for at-home robots that cater to consumers’ needs.
