Robotics startup Figure AI in talks for new funding at US$39.5 billion valuation
Human-like robots have become an area of increasing focus for investors
FIGURE AI, a startup developing humanoid robots, is in talks with investors to raise US$1.5 billion at a valuation of US$39.5 billion, according to sources familiar with the matter – a move that signals the tech industry’s intensifying interest in robots that look and move like humans.
The deal is set to be led by Align Ventures and Parkway Venture Capital, said the sources, who asked not to be identified because the information is private. The terms of the transaction are not finalised and could still change.
Figure declined to comment.
The new funding round would be a massive jump in valuation for the startup, which was valued at US$2.6 billion in a deal last year. Figure’s previous investors include Microsoft, OpenAI, Nvidia and Jeff Bezos.
Part of investors’ enthusiasm for the company comes from a breakthrough in more sophisticated reasoning abilities that has sped up the company’s projections for when its products will be widely adopted, said one of the sources. The startup now believes that its machines could be ready for the home within the next few years.
Human-like robots have become an area of increasing focus for investors. Elon Musk’s Tesla is currently developing a bipedal robot called Optimus. And Meta Platforms is planning a major push into the field. Meta’s effort will include work with Figure as well as another startup, Unitree Robotics, Bloomberg reported on Friday (Feb 14).
Figure has said it hopes its machines will be able to perform dangerous jobs that are unsuitable for humans and that its technology will help alleviate labour shortages. The startup’s customers include carmaker BMW.
Figure chief executive officer Brett Adcock recently said on LinkedIn that the company could ship 100,000 humanoid robots over the next four years. BLOOMBERG
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