Kyle Vogt, the former CEO and co-founder of Cruise, a self-driving car company under GM, announced his departure in 2023. GM later decided to shut down Cruise in December 2024.
In mid-2024, Vogt revealed the launch of a new venture called The Bot Company, a robotics company focused on household tasks, however, the products are yet to be unveiled to the public.
Recently, Reuters reported unconfirmed news that The Bot Company has raised a fresh funding round of $150 million, valuing the company at $2 billion despite lacking any products. The company previously raised $150 million last year, valuing it at $550 million back then.
What sets The Bot Company apart is its experienced founding team. Vogt, a former co-founder of Twitch, is joined by Paril Jain, who previously worked on AI at Tesla, and Luke Holoubek, a former employee of Cruise.
Source: Reuters, TechCrunch
TLDR: Kyle Vogt departed Cruise in 2023, launched The Bot Company in 2024, raised $150 million in funding, and assembled a team with extensive industry experience.
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