Humanoid robotics start-up Figure raises $1B at a $39B valuation
What's the story
Figure, a San Jose-based humanoid robotics start-up, has raised over $1 billion in its latest funding round. The Series C round was led by Parkway Venture Capital and saw participation from tech giants like NVIDIA, Intel Capital, LG Technology Ventures, Salesforce, T-Mobile Ventures, and Qualcomm Ventures. The investment has pushed the company's valuation to an impressive $39 billion post-money.
Rapid growth
Figure was valued at under $3 billion last year
The latest funding round has significantly increased Figure's valuation from last year's $2.6 billion when it raised $675 million from investors including Microsoft and Amazon founder Jeff Bezos. The company plans to use the capital to expand its fleet of humanoid robots into homes and commercial operations, improve infrastructure for faster training and simulation, and enhance data collection efforts.
Future plans
Funding round marks pivotal moment for the company's vision
Brett Adcock, the founder and CEO of Figure, said this funding round is a key milestone in scaling humanoid robots. He added that it would help unlock the next stage of growth for these machines and scale out their AI platform Helix and BotQ manufacturing. The company has raised nearly $2 billion since its inception in 2022.