Humanoid Robot Startup Attracts Investor Interest

February 26, 2024

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Several tech giants and venture capital firms, including Amazon, Nvidia, OpenAI, and Microsoft, have joined forces to raise a substantial $675 million investment for a promising startup named FigureAI. This startup is focused on the development of humanoid robots, as reported by Bloomberg.

Among the key contributors to this funding round are notable figures such as Jeff Bezos, who has pledged $100 million, Microsoft with a significant investment of $95 million, and both Nvidia and an Amazon-related fund each committing $50 million. OpenAI is also participating in the funding with a contribution of $5 million.

According to Brett Adcock, the founder and CEO of FigureAI, "Single-purpose robotics have saturated the commercial market for decades, but the potential of general-purpose robotics is completely untapped. Figure's robots will enable companies to increase productivity, reduce costs, and create a safer and more consistent environment."

Joining the roster of investors are entities like an Intel VC fund, LG Innotek, Samsung investment fund, Parkway Venture Capital, Align Ventures, ARK Venture Fund, Aliya Capital Partners, and Tamarack. Parkway Venture Capital notably led FigureAI's initial external funding round of $70 million last year.

Recently, FigureAI forged a partnership with BMW to explore the integration of robots in car manufacturing processes. The collaboration aims to leverage robots developed by FigureAI to enhance automotive production efficiency. The plan involves deploying Figure's robots at BMW's factory located in Spartanburg, South Carolina.

Notably, Elon Musk, the visionary entrepreneur behind companies like Tesla and SpaceX, is also venturing into the realm of general-purpose humanoid robots. Musk's project, named Optimus, is envisioned to revolutionize the robotics landscape with its innovative design and capabilities.

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