We are pleased to announce Georgian’s participation in Bedrock Robotics’ $270 million series B fundraise alongside CapitalG, Valor, Xora, 8VC, Eclipse, Emergence, NVentures and others.
Founded in 2024 by a team with prior leadership experience at Waymo, Caterpillar, and Twilio/Segment, Bedrock is working to address challenges in the construction industry by enabling the autonomous operation of heavy machinery to improve productivity, safety and predictability on job sites. Bedrock has developed an autonomous sensor kit (called the ‘Bedrock Operator’) that transforms existing heavy construction machinery into autonomous robotic systems. By up-fitting equipment with its hardware system, Bedrock is tackling some of the operational challenges currently facing the construction industry.
Physical AI: The Next Frontier of the AI Evolution
Our investment in Bedrock is a "Pathfinder" deal for Georgian, a designation we use for early investments in emerging technologies or markets. Past Georgian Pathfinder deals include Xanadu, Tenstorrent and Dominion Dynamics.
We believe that physical AI will be one of the next major areas of technological transformation. Unlike software-based digital AI, physical AI operates in the real world and closes the loop between sensing, reasoning and autonomous action in machines such as robots and vehicles.
We believe physical AI is reaching a commercial inflection point. Waymo, for example, began as a moonshot self-driving car experiment inside Google X in 2009. Over the past 16 years, that project has matured into a large-scale commercial deployment of fully autonomous ride-hailing vehicles, with Waymo having completed 15 million rides in 2025 alone.
In our view, the transition from prototypes and demonstrations to scalable real-world deployments is accelerating due to several converging forces, including: improvements in AI and hardware technological maturity, rising performance and falling costs of production-grade edge compute enabling commercial viability, and growing acceptance that automation in the physical world can deliver safer, more predictable and more efficient outcomes.
As a result, we believe we are observing a near-term window for the commercialization of physical AI at scale across multiple verticals, including construction.
Market Opportunity: Tackling Labor Shortages and Growing Demand in Construction
As we have evaluated both horizontal and vertical applications of physical AI, the construction industry stood out as a compelling investment opportunity for 3 reasons:
- Severe and Structural Skilled Labor Shortage: The U.S. construction industry is estimated to need roughly ~350,000 net new workers in 2026 and ~450,000 in 2027 to meet demand. A 2024 survey conducted by the Associated General Contractors of America (AGC) found that over 90% of contractors reported difficulty filling open roles, and more than 60% cited candidates lacking the required skills or licensing.
- Growing Infrastructure Demand: Driven by the data center boom and federal programs like the Bipartisan Infrastructure Law in the United States and The EU Chips Act in Europe, demand for heavy civil work is increasing. In 2025, the American Society of Civil Engineers projected a $3.7T US infrastructure investment gap (between current planned infrastructure investments and what must be done to have the nation’s infrastructure in good working order), up from $2.6T four years earlier.
- Autonomy Embraced Industry-Wide as a potentially High-ROI enabler of productivity and safety: Based on our diligence, General Contractors (GCs) are actively seeking solutions that help accelerate project timelines, increase productivity, enhance schedule reliability, and reduce safety risk. Industry participants have consistently highlighted measurable value from investments in autonomy. In contrast to adjacent verticals, such as autonomous vehicles, construction is one of the unique sectors where autonomy is being embraced across stakeholders in the ecosystem, not only by GCs, but also by operators, and infrastructure owner-developers.
We believe persistent labor constraints paired with urgent surging demand in the construction industry is creating a large, durable, compelling opportunity that Bedrock is uniquely positioned to solve.
Why Bedrock: A Pragmatic Solution Built By an Exceptional Team
Three things stood out as we spent time with the Bedrock team:
- A scalable, low-friction entry point into Physical AI. Rather than building new machines, Bedrock retrofits existing excavators, bulldozers, and loaders with a reversible hardware and software sensor suite that can be installed in approximately two hours. The Bedrock Digital Operator enables autonomous excavation, grading, and truck-loading, while preserving the ability for manual operation.This retrofit-first approach delivers compelling, multi-sided ROI:
- 24/7 productivity that compresses project timelines and expands contractor capacity.
- Meaningful safety improvements in one of the most injury-prone industries in the U.S.
- Flexible, OEM-agnostic deployment that leverages existing assets instead of requiring costly equipment replacement.
- A world-class technical founding team. Bedrock is led by seasoned robotics and autonomy leaders with end-to-end experience building and scaling real-world systems. CEO Boris and CTO Kevin are both second-time founders in the autonomy space (Anki and Marble, respectively) and later held senior leadership roles at Waymo, where Boris led the Trucking and Freeway Driverless programs and Kevin was Head of Perception. Bedrock’s other two co-founders and Engineering Leaders, Ajay (ex-Director of Systems and Programs at Waymo) and Tom (ex-VP Engineering at Twilio/Segment) also bring strong industry experience. COO Laurent formerly served as Chief Business Development Officer at Uber Freight from inception through to the business reaching $5B+ in revenue. This track record of execution and large-scale high stakes autonomy deployment experience is rare and has allowed the company to attract a strong team of technologists, including several alumni from Waymo.
- Execution focus paired with commercialization as a key priority. The Bedrock team has progressed rapidly from inception to first autonomous deployment in just under 2 years, having recently completed a large-scale supervised autonomy deployment for mass excavation on a 130-acre manufacturing site in November 2025. This has been supported by their strategic design partnerships with numerous major construction general contractors including Sundt, Zachry, Austin Bridge & Road, among others.
We believe the team at Bedrock is distinctively positioned to lead physical AI transformation in the construction industry. By enabling autonomous work across fleets, the company is building smarter machines, redefining how projects are executed, and unlocking productivity, safety and capacity across the industry.
We are thrilled to partner with Boris, Kevin, Tom, Ajay, Laurent, and the entire Bedrock team as they bring their vision to reality.