Embark Technology
Autonomous truckingUSA
New to Unitard
π Dead / Bankrupt
PeakΒ $5.2 BillionToday
~-98.6%
from peak
- π¦Became a unicorn2021
- πPeak valuation$5.2 Billion β21
- πBecame a UnitardAug 2023
- πΈLast valuationWiped out
π₯ Raised & burned
$400M
Total raised
$154K/day
Burned Β· 7.1y alive
Funding: company spokesperson via AutoNews/TechCrunch
Current status
Taken private by Applied Intuition $71M ($2.88/sh) Aug 2023
The rise & fall
6 moments Β· 2016β2023The key moments.
2016
2016
Founded in San Francisco
Y Combinator alums Alex Rodrigues and Brandon Moak start building self-driving trucks.
TechCrunch
Nov 2021
Nov 2021
The peak: a ~$5.2B SPAC debut$5.2B
The pre-revenue trucking developer goes public at the top of the autonomy bubble.
TechCrunch
2022
2022
The SPAC hangover
The market for pre-revenue self-driving startups collapses; heavy cash burn meets a cratering stock.
CNBC
Mar 2023
Mar 2023
Winds down
Embark lays off most of its staff and largely ceases operations.
TechCrunch
Aug 2023
Aug 2023
Taken private at $71M β joins the Unitard Club π$71M
Applied Intuition pays $2.88 a share β roughly 98.6% below peak β for a company that had already wound down.
SEC filing
$5.1Bof peak value erased Β· 7 years
How it happened
Embark Technology was a US autonomous-trucking developer that went public via SPAC in 2021 at a valuation around $5.2B. Slow commercialization, heavy cash burn, and a brutal market for pre-revenue self-driving startups gutted its value. Applied Intuition took it private in August 2023 for just $71M ($2.88/share), roughly 98.6% below peak, after the company had largely wound down operations.
Source: Embark 8-K Aug 2 2023
Where they went
- Alex Rodriguesco-founder & CEOAI Alignment Research at Anthropic
- Brandon Moakco-founder & CTONot on record
Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.
