The a16z Show

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Building the Physical AI Stack | Travis Kalanick on TBPN

Explore episode Jul 23, 2026

Where this was said

$1.7B Raise and Consolidating the Atoms Empire

At 4:18 · chapter starts 3:03

Kalanick casually drops the headline: Atoms has raised $1.7 billion, and his phone is already blowing up with a second close in sight. He explains the evolution of the company structure — originally each vertical (mining, transport, food) was a separate entity, and he went to market pitching investors on individual businesses. The first five investors he spoke to all said the same thing: we don't care which company, we want to invest in you. That consensus prompted him to merge everything into a single entity and sell equity at the parent level. He draws a parallel to Elon Musk's multi-company approach but notes it's simpler to manage as a consolidated whole once you're approaching profitability in one or more verticals. The round, he makes clear, is likely to grow.

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