Ex-Cruise CEO Raises $150M For Robotics Startup Co-Founded With Longtime Tesla AI Head Who Just Quit

Benzinga Neuro

May 14, 2024

Former Cruise CEO Kyle Vogt has successfully raised $150 million for his latest venture, a robotics startup named The Bot Company.

What Happened: Alongside former Cruise engineer Luke Holoubek and former Tesla AI employee Paril Jain, Vogt launched The Bot Company, which is now valued at $550 million following this recent funding round, according to a Forbes report.

The startup aims to create home robots capable of handling household chores like cleaning and laundry.

Key investors in the round include Spark Capital and Nat Friedman, the former GitHub CEO who now manages a significant AI-focused fund. The company’s business model is centered on selling these robots directly to consumers, with the added feature of customization through a Discord-like chat server.

See Also: Best Tech Penny Stocks Right Now

However, this business model could change as the company, which is not yet generating revenue, continues to evolve.

The founders’ previous experience with autonomous vehicles at Cruise and Tesla is anticipated to be advantageous in overcoming the technical challenges of creating independent robots.

Why It Matters: Co-founder Jain was a longtime AI manager at Tesla, Inc. (NASDAQ:TSLA), where he played a significant role in the deployment of Tesla’s Full Self-Driving software, which he recently revealed was deployed on approximately 2 million vehicles in the U.S.

His experience and expertise in AI and autonomous technology could be instrumental in developing advanced home robots, adding a unique edge to The Bot Company’s offerings.

He revealed his departure from the EV giant on Tuesday, amid wider company layoffs, saying it has “been an incredible 7 years building the best self driving product on the market.”

“While I had always planned to help Tesla get to the final destination of global deployment of Robotaxis, I think it's time to accelerate [the] rest of the robotics industry and build more bots that give people time back,” he added.

As for Tesla – it has been an incredible 7 years building the best self driving product on the market. We have come a long way from barely being able to stay in lane, to building Navigate on Autopilot, (Not) Smart Summon, Autonomy day push, giving 4AM demos for autonomy day andâ€¦
— Paril Jain (@pariljain) May 13, 2024

Read Next: Tesla’s Genius Move Or Price Cut In Disguise? Analysts Dissect EV Giant’s 0.99% Model Y Financing Scheme

Photo by Kimberly White/Getty Images for TechCrunch via Flickr

Engineered by Benzinga Neuro, Edited by Ramakrishnan M

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Recommended

The Tesla Shock Nobody Sees Coming - Ad

Why Is a $116B Mining Giant Backing a $10M Firm? - Ad

Why Are 21 Billionaires Moving Their Money ASAP? - Ad

Trump Blocks Nvidia AI Chip Exports, U.S.-China Tech Tensions Rise As Palantir, Spotify, Uber, AMD, Microsoft, Tesla, SpaceX, Google, And OpenAI Drive AI Expansion

Jensen Huang Says 'Insane' That Some Nvidia Managers Are Telling Employees To Limit AI Usage: Report

Nvidia (NASDAQ: NVDA) CEO Jensen Huang has reportedly urged his employees to utilize artificial intelligence (AI) for every possible task, assuring them that their jobs are secure.

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment - Ad

Washington's push for domestic copper, silver, gold, and tungsten is reshaping the resource landscape. Their neighbor's multi-metal hits, supported by $6M in federal funding and a 300%+ YTD surge, confirmed this Nevada corridor is the right kind of ground. Now another early-stage explorer has stepped into the same trend as interest accelerates.

EPAM Confident On Growth, Initiates $1 Billion Stock Buyback

EPAM Systems (EPAM) stock gained 4.41% after reporting strong third-quarter 2025 results, with sales of $1.394 billion.

Investors Are Going All-In On ETFs, Study

Study by Charles Schwab shows ETF adoption accelerating, with 93% of investors seeing it as a necessary part of their portfolio.

Legally "Skim" $6,361 Into Your Account?

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

Trump attacks ABC News correspondent Mary Bruce in angry response to three sharp questions

NEW YORK (AP) — President Donald Trump denounced ABC News' Mary Bruce as a “terrible reporter” Tuesday and threatened the network's license to broadcast after she asked him three sharp questions at the White House.

JPMorgan Forecasts Bitcoin Bottom, Anticipates $28.3 Trillion Challenge To Gold By 2026

Analysts at JPMorgan have pinpointed the lowest point of the ongoing Bitcoin (CRYPTO: BTC) price fall and also projected a substantial chall

If You Hold Any Dollars in Your Bank Account, Read This...

If You Hold Any Dollars in Your Bank Account, Read This... - Ad

Strange events are unfolding in the global financial system. A monetary reset dubbed the "Mar-a-Lago Accord" is quietly in motion, and the financial elite are already taking protective action. If history is any guide, you could lose up to 40% of your wealth in the next two years. Move your money before it's too late.

Joan Branson, wife of British billionaire Richard Branson, dies at 80

Joan Branson, the wife of British billionaire Richard Branson, has died at age 80.

Trump-Pardoned Ponzi Schemer Faces 37-Year Sentence For $44 Million COVID Scam

A previously convicted Ponzi schemer who had received a pardon from President Trump is heading back to prison due to involvement in a new fraudulent scheme.

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26?

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26? - Ad

Elon Musk may be set to create more "Musk Millionaires" as soon as January 26... Because on that day, he's expected to officially launch his Optimus robot... An AI-powered robot that Elon himself says will be capable of "doing anything bar nothing". Now, it's important to point out that Elon hasn't released it to the public yet... But ahead of the launch, one Silicon Valley insider has identified a "backdoor way" for any American to invest in Optimus with a regular brokerage account...

China announces restrictions on chemicals after deal with Trump on fentanyl tariffs

WASHINGTON (AP) — China said Monday it is making good on its pledge to crack down on chemicals that can be used to make fentanyl, a key issue for President during recent talks with Chinese leader as they aimed to .

Cathie Wood Makes Massive Google Stock Purchase Amid AI Chip Shakeup — Ark Loads Up On Meta, Sells Palantir And AMD Shares

On Tuesday, Cathie Wood-led Ark Invest made significant trades. These trades were executed across multiple Ark ETFs and focused on tech as well as cryptocurrency-related companies.

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Uber CEO Dara Khosrowshahi Sees A 'Hybrid Future' Of Robotaxis And Human Drivers, Says AVs On Its Platform Can Make More Money

Uber CEO outlines hybrid future for company's platform amid autonomous driving push. Says AVs can generate more earnings on Uber platform.

Cipher Mining Stock Pops As JPMorgan Moves To Overweight

Cipher Mining shares are rising Monday after JPMorgan upgraded the stock to Overweight and raised its price target to $18.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Zohran Mamdani Says No More Thanking Veterans Today, Forgetting Tomorrow — Trump, Obama And Others Express Gratitude For Service

America's top political and tech leaders — including Donald Trump, Barack Obama, Tim Cook, and Sundar Pichai — marked Veterans Day 2025 with tributes honoring the courage and sacrifice of U.S. service members.

Starbucks' Bearista Cup Resale Market Explodes, Labubu-Level Frenzy Ensues

Starbucks has seen a surge in demand for its collectible holiday merchandise, with the Glass Bearista Cold Cup becoming the latest sensation.

Global Demand for Defense Metals Is Surging 7X

Global Demand for Defense Metals Is Surging 7X - Ad

Lithium, uranium and titanium are at the center of a global race. Nations are scrambling to secure them for fighter jets, EVs, and reactors. One N. American project could help fill the West's critical-minerals gap.

Trump Calls for End to Obamacare, Wants Funds To 'Be Sent Directly to the People'

President Trump has called on Senate Republicans to abolish the Affordable Care Act and reroute federal healthcare funds directly to the American people.

Hours After Marjorie Taylor Greene's Public Rebuke, Trump Responds With Restraint: 'She's A Nice Person'

President Trump has changed his perspective on MTG after her unexpected resignation from Congress.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Shaquille O'Neal's Parenting Strategy: Sons Must Leave Home at 18, Daughters Can Stay Indefinitely: 'I Like My Girls a Little Bit Better'

Shaquille O'Neal once disclosed his unconventional parenting approach, stating that he prompts his sons to leave home at 18, while his daughters are allowed to stay as long as they wish.

California revokes 17,000 driver's licenses. But the state disputes it is over immigration concerns

California plans to revoke 17,000 commercial driver’s licenses given to immigrants after the Trump administration raised concerns about people in the country illegally receiving licenses to drive a semitruck or a bus. But Gov. Gavin Newsom said that isn't the reason.

Why Is a $116B Mining Giant Backing a $10M Firm?

Why Is a $116B Mining Giant Backing a $10M Firm? - Ad

Rio Tinto rarely makes early-stage bets. Yet one small N. American firm earned its trust with projects in lithium, uranium, and titanium - all vital to U.S. defense and energy independence.

Steven Cohen, Jeffrey Smith, Paul Singer Are Buying BILL At Around $50 — Even After 40% YTD Collapse

3 billionaire hedge funds each bought ~ $50 shares of BILL stock, signaling that it's undervalued.

Lebanon's most wanted drug trafficker taken into custody, authorities say

BEIRUT (AP) — Lebanon's most wanted drug trafficker was arrested Thursday after years on the run, authorities said.

Why Are 21 Billionaires Moving Their Money ASAP?

Why Are 21 Billionaires Moving Their Money ASAP? - Ad

One of the biggest stock market events in 25 years is rapidly unfolding... The economist who predicted the 2008 Financial Crisis says it will be: "The Biggest Crash of Our Lifetime." It could cut the entire tech marketing by HALF.

MP Materials Stock Rebounds After Losses Following Mixed Q3 Results

MP Materials Corp (NYSE:MP) shares are trading higher on Friday after initially trading lower following the company's mixed third-quarter financial results.

Apple's Satellite-Powered Features for iPhones: A Journey Spanning Over A Decade

Apple continues to make strides in its decade-old satellite connectivity project. The tech giant is reportedly developing a range of innovative features to enhance its satellite services.

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment - Ad

Bill.Com Scales Payments Footprint With 33 Million Transactions

Bill Holdings, Inc. (BILL) reports Q1 fiscal 2026 results, beating analyst estimates with adjusted EPS of 61c and revenue of $395.74M.

Deep in Trump country, coal miners with black lung say government is suffocating the 'working man'

OAK HILL, W.Va. (AP) — Lisa Emery loves to talk about her “boys.” With each word, the respiratory therapist’s face softens and shines with pride. But keep her talking, and it doesn’t take long for that passion to switch to hurt. She knows the names, ages, families and the intimate stories of each one’s scarred lungs. She worries about a whole community of West Virginia coal miners — including a growing number in their 30s and 40s — who come to her for help while getting sicker and sicker from what used to be considered an old-timer’s disease: black lung.

Legally "Skim" $6,361 Into Your Account?

Legally "Skim" $6,361 Into Your Account? - Ad

Scott Bessent Says Democrats Wanted To Stop Trump Agenda At Any Cost: 'The Shutdown Was Never About Healthcare'

Treasury Sec. Bessent accuses Dems of causing record govt shutdown to hurt Trump, says it's not about healthcare. Predicts strong economy once reopened.

GOP Senators Applaud Trump's Nvidia Advanced Chip Ban As Jensen Huang Warns China Could Dominate AI Race — Urges US To Race Ahead By Doing This

Eight Republican senators praised President Donald Trump for upholding Nvidia's AI chip export ban to China.

If You Hold Any Dollars in Your Bank Account, Read This...

If You Hold Any Dollars in Your Bank Account, Read This... - Ad

Serbia passes a special bill enabling Trump's son-in-law to build luxury complex despite opposition

BELGRADE, Serbia (AP) — Serbian lawmakers on Friday passed a special law clearing the way for a proposed real estate project that would be financed by an investment company linked to Donald Trump’s son-in-law despite and legal hurdles.

Trending Now