Autonomous trucking startup Kodiak Robotics is to go public by way of a merger with Ares Acquisition Company II, a particular function acquisition firm affiliated with Ares Administration Company.
The deal will make Kodiak a publicly listed firm beneath the identify Kodiak AI, with shares anticipated to commerce beneath the ticker symbols KDK and KDK WS, pending regulatory approval.
Based in 2018 by autonomy pioneer Don Burnette, Kodiak has emerged as a number one participant in driverless trucking, growing an AI-powered automated driving system referred to as the Kodiak Driver.
The corporate’s system combines modular {hardware} and AI-driven software program designed to combine with industrial fleet operations and adapt to a wide range of real-world environments.
Burnette, who serves as CEO, stated the settlement marks a pivotal step in Kodiak’s mission to remodel the transportation trade.
“This can be a outstanding milestone for the Kodiak group and reinforces our confidence within the vital worth proposition we see in our differentiated driverless expertise,” Burnette stated.
“We consider coming into the general public markets will speed up our technique to broaden our present companion relationships, present our expertise to a broader buyer base, and ship enhanced options throughout the industrial trucking and public sector industries.
“Additional, with Kodiak’s disciplined strategy to capital administration, together with strategic and monetary assist from Ares, we consider we’re well-positioned to execute on our long-term development plans.”
“On behalf of the whole Kodiak group, we’re thrilled to be working with Ares and AACT as we proceed to drive our mission to create a safer and extra environment friendly future for the trucking trade.”
Kodiak’s Driver-as-a-Service enterprise mannequin prices clients per mile or per truck, offering a scalable resolution tailor-made to the evolving logistics panorama. The corporate claims its system improves gas effectivity, security, and value predictability.
In what it says is a primary for the trade, Kodiak started working totally driverless semi-trucks in partnership with Atlas Vitality Options in 2024.
To this point, the vehicles have accomplished over 750 hours of autonomous operations throughout Texas’s Permian Basin. In March 2025, Atlas dedicated to ordering 100 further vehicles, following the achievement of key efficiency benchmarks.
The Kodiak Driver has logged greater than 2.6 million autonomous miles and is being developed for broader deployment throughout varied automobile varieties. The corporate estimates that its expertise addresses a $1 trillion market alternative within the US, and a $4 trillion complete addressable market globally.
David Kaplan, co-CEO of AACT and co-founder of Ares, praised Kodiak’s progress within the sector.
“As an early-mover in autonomous trucking and first to ship a industrial driverless product to a buyer, Kodiak has rapidly set itself aside as an trade chief in a major addressable market,” stated Kaplan.
“We’re excited to companion with Don and the Kodiak group as they search to additional capitalize on vital trade tailwinds and ship worth for his or her stakeholders.”
AACT COO and Ares companion Allyson Satin added: “We consider Kodiak’s scalable expertise, mixed with its established community, place the Firm to satisfy the evolving and rising calls for of its clients and communities.
“We look ahead to lending Ares’ many years of expertise investing and navigating by way of dynamic market environments in assist of Kodiak’s long-term targets.”
Kodiak’s clients and companions embrace Bridgestone, J.B. Hunt, Werner Enterprises, C.R. England, and Martin Brower. The corporate has additionally secured a contract with the US Division of Protection, receiving roughly $30 million to adapt its autonomous driving programs for navy use.
The corporate’s management group consists of veterans of AI, robotics, and transportation, supported by greater than 200 staff. Burnette himself has an extended observe document in autonomous automobile improvement, having beforehand co-founded the self-driving unit at Otto (acquired by Uber).
Beneath the phrases of the deal, Kodiak’s pre-money valuation is ready at $2.5 billion. The mixed entity expects to obtain as much as $551 million in money from AACT’s belief account, assuming no redemptions.
The transaction has attracted greater than $110 million in further funding from institutional backers together with Soros Fund Administration, ARK Investments, and Ares. Current investor ARK Investments has additionally reaffirmed its assist for Kodiak.
The boards of each Kodiak and AACT have unanimously permitted the settlement, which is predicted to shut within the second half of 2025, pending shareholder approval and customary regulatory clearances.
Investor and authorized info
Kodiak and AACT plan to host a joint investor presentation, obtainable through the Kodiak Investor Relations web site at kodiak.ai/buyers. Further info, together with the enterprise mixture settlement and investor presentation, will likely be filed with the US Securities and Alternate Fee.
Advisors to the transaction embrace Citigroup and J.P. Morgan Securities for AACT, with authorized assist from Kirkland & Ellis. Kodiak is suggested by Chardan, TD Cowen, and Wilson Sonsini Goodrich & Rosati, with Greenberg Traurig advising TD Cowen. Investor relations assist is offered by The Blueshirt Group.
![Pinwheel Sandwiches [Easily Customized!] – The Wholesome Maven](https://www.theautonewspaper.com/wp-content/uploads/2025/04/pinwheel-sandwiches-17-75x75.jpg)
