Kyle Vogt, co-founder of Cruise, has raised US$150 million for his robotics startup, The Bot Company, in a round led by Greenoaks, according to sources. Less than a year old, the company is now valued at US$2 billion.

This follows a previous US$150 million round, which included Spark Capital and former GitHub CEO Nat Friedman, valuing it at US$550 million.

The startup is developing non-humanoid AI-powered robots for household tasks.

The robotics sector is seeing strong venture capital interest, fueled by AI advancements that enable robots to process natural language commands. PitchBook reports that VC investment in robotics reached US$6.1 billion last year, up 19% from 2023.

The Bot Company, co-founded by Vogt, Paril Jain, and Luke Holoubek, former Tesla and Cruise engineers, competes with companies like Tesla and Amazon in the household robotics space.

Neither The Bot Company nor Greenoaks commented on the funding.