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I’ve remarked on various platforms that the autonomous vehicle sector feels reminiscent of the hype seen in 2016, at least concerning the fervor surrounding it.
However, a recent dialogue with Trucks VC partner Puneeth Meruva has led me to reassess that notion. Current indicators suggest that 2026 could be even more dynamic—at least in specific aspects—compared to the thriving deal-making period of 2016 and 2017.
Trucks VC, which focuses on early-stage funding, has received pitches from 81 new autonomous vehicle startups in 2026 alone, a 66% increase from the previous year, eclipsing the surge seen a decade ago. The venture capital firm asserts that we are witnessing another, possibly more significant, wave of interest in AVs, driven by technological advancements, notably in AI.
“For an extended period, AV companies were transitioning from AV 1.0 to AV 2.0, which is essentially the quest for a comprehensive architecture for autonomous vehicles,” Meruva stated. “I believe that the foundational models available now offer the necessary technical framework to enable those all-encompassing systems.”
These foundational models excel at adapting across various environments and circumstances, which may lead to a reduction in costs and an acceleration in deployment for AVs. The emergence of robust open-source models like Nvidia’s Alpamayo and Qwen’s general-purpose vision-language-action models has further simplified the startup process.
Entry barriers have never been lower. Meruva noted that Trucks consistently observes startups launching within just a few months and with under $1 million in funding. Though he refrained from naming specific companies, he confirmed that the firm has invested in several of them.
Among the 81 startups seeking investment from Trucks VC, I had presumed that most would focus on application in sectors such as construction, warehousing, agriculture, and mining. While those areas are present, I was surprised by the increasing number of startups pitched specifically in the robotaxi arena, many of which aim to compete directly with Waymo.
As audacious as that may seem, Meruva believes there is still ample space for smaller enterprises.
“In this landscape, smaller, specialized companies can vie for opportunities—not necessarily at a global level with Waymo, but within specific regions or types of routes,” he explained.
Looking ahead, Meruva doesn’t anticipate a decline in momentum. He believes more AV startups will approach the firm for funding next year.
Deals!
Our regular readers know we have closely monitored Slate Auto, particularly since our initial report on Jeff Bezos’ investment back in April 2025. This week, our attention shifted to the company it emerged from.
Re:Build, a manufacturing accelerator based in Massachusetts, has secured $2.1 billion to enhance its capabilities in producing advanced technology products and launching new industrial startups. The funding round was led by General Catalyst and JPMorganChase’s Strategic Investment Group, with further details on other investors remaining undisclosed.
Co-founded by Amazon’s former commercial CEO Jeff Wilke, Re:Build has positioned itself as “America’s answer to Shenzhen.”
Additional deals include …
Bedrock Robotics successfully raised $600 million in a funding round, attributing a $4.1 billion valuation to the autonomous vehicle technology startup. CapitalG and Emergence Capital co-led this Series C round, with participation from new investors including US Innovative Technology Fund, Bessemer Venture Partners, and Temasek, alongside returning investors such as 8VC, Georgian, Valor Equity Partners, Xora, Eclipse, Perry Creek Capital, and Nvidia.
DoorDash has finalized a deal to acquire Instacart for $17 billion. In its third-quarter earnings report, DoorDash indicated that it has received only a handful of orders from AI-driven agents thus far.
PreScalar, an emerging startup in San Francisco creating software and testing systems for factories, achieved $7 million in seed funding through a round co-led by Dynamo Ventures and BMW i Ventures, with contributions from Blue Wire Capital, Uplift Ventures, and Antler. This startup was established last year by three individuals with backgrounds at Cruise, Google, Rivian, and Waymo.
Noteworthy Articles and Other Highlights
Elroy Air, a firm focused on autonomous heavy-cargo drones for various sectors including defense and logistics, appointed Jeremy Hux as its CFO in preparation for a public offering.
Ford introduced two new EV charging solutions that will enable its upcoming Fathom pickup truck to function as a battery storage system for homes or the power grid.
GM is shifting its focus toward hybrid vehicles. The automaker is also addressing past controversies over selling driver data, having agreed to pay $220 million to 36 states, following a previous settlement with California and the Federal Trade Commission regarding unauthorized sales of private driving data.
Kodiak AI is set to provide 75 self-driving trucks to DTL Transport, marking the company’s first formal commercial agreement for driverless trucks to operate on public roads starting in 2028.
Rivian reported its third-quarter earnings, highlighting several key points. The success of the new R2 model has prompted the company to adjust its 2026 delivery estimates upwards, now anticipating between 67,000 and 70,000 EV deliveries this year. Additionally, Rivian’s $5.8 billion joint venture with Volkswagen Group is expanding to encompass AI assistant technologies, though it remains unclear whether Volkswagen will increase its investment in Rivian.
Tesla is utilizing Turo to enhance the adoption of its Full Self-Driving (Supervised) feature.
Waymo and Toyota have established a manufacturing alliance, advancing beyond preliminary discussions. Toyota will produce AV-compatible bZ4X vehicles, integrating Waymo’s autonomous technology for use in robotaxi operations across Japan, the U.K., and other international markets. They also hinted at a future licensing agreement that could enable Waymo’s AV technology to be used in privately owned vehicles.
Final Thoughts
A reminder for founders, investors, and entrepreneurs in the Boston area: the Founder Summit is scheduled for November 4. I will be attending! This event focuses on startup founders and investors, featuring expert talks and numerous networking opportunities.
For my TechCrunch Mobility readers, enjoy a 30% discount on tickets by using the code mobility30.
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