Kodiak Robotics announces public listing through merger with Ares Acquisition Corporation II
Kodiak Robotics and Ares Acquisition Corporation II recently entered into a definitive business combination agreement through which Kodiak will become a publicly listed company.
“This is a remarkable milestone for the Kodiak team and reinforces our confidence in the significant value proposition we see in our differentiated driverless technology,” Don Burnette, founder and CEO of Kodiak, said. “We believe entering the public markets will accelerate our strategy to expand our existing partner relationships, provide our technology to a broader customer base, and deliver enhanced solutions across the commercial trucking and public sector industries. Further, with Kodiak’s disciplined approach to capital management, along with strategic and financial support from Ares, we believe we are well-positioned to execute on our long-term growth plans."
See also: Kodiak goes commercial: Delivers first RoboTrucks to Atlas Energy’s private fleet
Kodiak is an autonomous driving company developing technology to address challenges in the transportation industry, including driver shortages, demands for shorter delivery timelines, and rising costs. Kodiak’s single-platform automated driving system, the Kodiak Driver, combines advanced AI-driven software with modular hardware.
The Kodiak Driver integrates learnings from real-world experience across commercial trucking and public sector applications to continuously improve AI models and increase reliability and efficiency in a range of environments. Kodiak’s platform is designed to enable technology integration with customers’ existing operations, providing a flexible, scalable, Driver-as-a-Service solution tailored to customers’ needs.
“As an early-mover in autonomous trucking and first to deliver a commercial driverless product to a customer, Kodiak has quickly set itself apart as an industry leader in a significant addressable market,” David Kaplan, CEO and co-chairman of the board of directors of AACT and co-founder of Ares, said. “We are excited to partner with Don and the Kodiak team as they seek to further capitalize on significant industry tailwinds and deliver value for their stakeholders.”
