Kodiak Robotics, a provider of AI-powered autonomous vehicle technology, has gone public through a SPAC merger and has rebranded as Kodiak AI. The company operates trucking routes to and from Houston, which has served as a launchpad for the business.
Privately held Kodiak, founded in 2018, merged with a special purpose acquisition company — publicly held Ares Acquisition Corp. II — to form Kodiak AI, whose stock now trades on the Nasdaq market.
In September, Mountain View, California-based Kodiak and New York City-based Ares disclosed a $145 million PIPE (private investment in public equity) investment from institutional investors to support the business combo. Since announcing the SPAC deal, more than $220 million has been raised for the new Kodiak.
“We believe these additional investments underscore our investors’ confidence in the value proposition of Kodiak’s safe and commercially deployed autonomous technology,” Don Burnette, founder and CEO of Kodiak, said in a news release.
“We look forward to leading the advancement of the commercial trucking and public sector industries,” he added, “and delivering on the exciting value creation opportunities ahead to the benefit of customers and shareholders.”
Last December, Kodiak debuted a facility near George Bush Intercontinental/Houston Airport for loading and loading driverless trucks. Transportation and logistics company Ryder operates the “truckport” for Ryder.
The facility serves freight routes to and from Houston, Dallas and Oklahoma City. Kodiak’s trucks currently operate with or without drivers. Kodiak’s inaugural route launched in 2024 between Houston and Dallas.
One of the companies using Kodiak’s technology is Austin-based Atlas Energy Solutions, which owns and operates four driverless trucks equipped with Kodiak’s driver-as-a-service technology. The trucks pick up fracking sand from Atlas’ Dune Express, a 42-mile conveyor system that carries sand from Atlas’ mine to sites near customers’ oil wells in the Permian Basin.
Altogether, Atlas has ordered 100 trucks that will run on Kodiak’s autonomous technology in an effort to automate Atlas’ supply chain.