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Ex-Uber CEO Kalanick Targets $1.7B for Robot Start-up
23 Jul
Summary
- Travis Kalanick is raising $1.7 billion for his new venture, Atom.
- Atom aims to automate industrial processes using robotics and AI.
- The company is focusing on sectors like mining, construction, and transport.
Travis Kalanick, the former CEO of Uber, is launching a new venture named Atom, aiming to raise $1.7 billion in debt and equity. The company's objective is to create a "computer for the physical world" by automating industrial processes with advanced robotics and artificial intelligence.
Atom plans to deploy its technology across various sectors, including mining, construction, and heavy transport. Kalanick expressed his belief that industrial AI is poised to power the next Industrial Revolution, transforming these heavy-duty industries.
This latest endeavor is supported by venture firm Andreessen Horowitz, with co-founder Ben Horowitz joining Atom's board. Financial institutions like Goldman Sachs and JPMorgan are also involved in the funding. Kalanick previously founded CloudKitchens, a network of dark kitchens for food delivery apps, after stepping down from Uber in 2017.
Atom has also acquired Pronto, an autonomous vehicle company focused on the mining industry, founded by former Uber engineer Anthony Levandowski. Levandowski had previously faced legal issues related to trade secrets stolen from Google. Kalanick acknowledged a past regret about not partnering with Andreessen Horowitz during his tenure at Uber.
