FARMINGTON, Conn., October 11, 2022 /PRNewswire/ — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”), a leading specialty finance company providing capital in the form of secured loans to venture capital-backed companies in technology, life sciences, information and health services, and sustainability industries, announced today that it has provided $30 million to Kodiak Robotics, Inc. (“Kodiak”) in the form of a growth capital line of credit.
Kodiak is a leading developer of autonomous long-haul trucks designed to make the freight industry safer and more efficient. Based on Mountain View, California with an operations center in Dallas, TexasKodiak delivers daily cargo through Texas Y Oklahoma for a variety of trading partners, including Werner Enterprises, CEVA Logistics, US Xpress and 10 Roads Express. Kodiak is backed by a consortium of top-tier investors, including SIP Global Partners, The Pilot Company, Bridgestone Americas, Battery Ventures, Lightspeed Venture Partners and CRV.
“Kodiak is at the forefront of autonomous driving for commercial vehicles, providing innovative charging solutions that can fundamentally change supply chains for the better,” he said. Gerald A. Michaud, President of Horizon. “We are excited to support Kodiak as it further expands its suite of solutions and revolutionizes the way we think about the future of freight.”
“We are very pleased to be supported by Horizon as we develop our vision of becoming the safest and most efficient driver in the world,” said Don Burnette, Founder and CEO, Kodiak. “We strongly believe that autonomous truck technology will make roads safer and supply chains more efficient and resilient, while reducing emissions and improving the quality of life for truck drivers. Supported by Horizon will allow us to continue to expand the Kodiak Driver – the most advanced in the industry.” technology stack We look forward to working with Horizon to continue to transform trucking.”
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life sciences, health information and services, and sustainability industries. Horizon’s investment objective is to maximize the return on its investment portfolio by generating current income from the debt investments it makes and capital appreciation from the collateral it receives in making those debt investments. Horizon is headquartered in Farmington, Conn.with a regional office in Pleasanton, Californiaand investment professionals located in austin, texas, Chicago, Ill., Reston, Va. Y Portland, Maine. For more information, visit horizonchfinance.com.
Kodiak Robotics, Inc. was founded in 2018 to develop autonomous technology that moves cargo so people, partners and the planet thrive. The company is developing an industry-leading technology stack designed specifically for long-haul trucks, making the freight industry safer and more efficient.. Kodiak’s unique modular hardware approach integrates sensors into an optimized sensor-pod structure that optimizes perception, scalability, and maintainability. The company delivers cargo for its customers along six routes in Texas and Oklahoma, operating autonomously on the highway portions of the routes. Learn more about Kodiak on the web at kodiak.aiand in LinkedIn Y Twitter. You can find the press kit of the company HERE.
Statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact included in this press release may constitute forward-looking statements and are not future performance guarantees. condition or results and involve a number of risks and uncertainties. Actual results may differ materially from forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. Horizon undertakes no obligation to update any forward-looking statements made in this document. All forward-looking statements speak only as of the date of this press release.
ICR Garrett Edson
SOURCE Horizon Technology Finance Corporation