Horizon Technology Finance, a specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services and sustainability industries, provided $30 million to Kodiak Robotics in the form of a growth capital credit facility.
Kodiak is a developer of self-driving long-haul trucks designed to make the freight industry safer and more efficient. Based in Mountain View, CA with an operations hub in Dallas, Kodiak delivers daily freight across Texas and Oklahoma for a range of commercial partners, including Werner Enterprises, CEVA Logistics, U.S. Xpress and 10 Roads Express. Kodiak is backed by a consortium of premier investors including SIP Global Partners, The Pilot Company, Bridgestone Americas, Battery Ventures, Lightspeed Venture Partners and CRV.
“Kodiak is on the forefront of autonomous driving for commercial vehicles, providing innovative freight solutions which can fundamentally change supply chains for the better,” Gerald A. Michaud, president of Horizon, said. “We are excited to support Kodiak as it further expands its suite of solutions and revolutionizes how we think about the future of freight transport.”
“We are very pleased to receive Horizon’s support as we build on our vision to become the world’s safest and most efficient driver,” Don Burnette, founder and CEO of Kodiak, said. “We firmly believe that self-driving trucking technology will make roads safer and supply chains more efficient and resilient while reducing emissions and improving quality of life for truck drivers. Horizon’s support will allow us to continue to scale the Kodiak Driver: the industry’s most advanced technology stack. We look forward to working with Horizon to continue to transform trucking.”
