When it comes to autonomous vehicles, companies like Waymo and Tesla that operate fleets of robotaxis come to mind first.

But a new start-up is focusing on a different goal: automating multi-ton excavators and other construction vehicles to speed the building of housing, data centers and more.

Bedrock Robotics plans to announce on Wednesday that it has raised $270 million in a new fund-raising round, valuing the roughly two-year-old start-up at $1.75 billion. The round was led by CapitalG, an investment arm of Alphabet, Google’s parent company, and the Valor Atreides A.I. Fund; other investors included the existing backer 8VC and the venture arm of Nvidia.

Behind the quick rise of the San Francisco-based Bedrock is the proposition that artificial intelligence can drive significant benefits in the physical world, not just online.

“We’ve seen how powerful these A.I. approaches are on the digital side,” Boris Sofman, the company’s co-founder and chief executive, said in an interview. “What’s fun here is that it’s very practical.”

Several of Bedrock’s founders and early employees hail from Waymo, including Mr. Sofman, who helped oversee the project that let Waymo’s driverless cars operate on freeways. That experience is informing Bedrock’s approach on issues such as how to deploy sensors like lidar on machines much bigger than a car.