Business News Report
February 29, 2024

Figure Raises $675M Funding for Humanoid Robot Development, Collaborates with OpenAI for AI Model Research

In Brief

Humanoid Robot startup Figure raised $675M in Series B funding led by industry giants, including Microsoft, Nvidia, Jeff Bezos and others.

Figure Raises $675M Funding for Humanoid Robot Development, Collaborates with OpenAI for AI Model Research

Humanoid Robot startup Figure announced it raised a monumental $675 million in Series B funding round, propelling the company’s valuation to a staggering $2.6 billion. The substantial investment was led by a consortium of industry giants, including Microsoft, Nvidia, Jeff Bezos’s Bezos Expeditions and Intel Capital, among others.

The company recently garnered attention for its ambitious pursuit of advanced bipedal robotics technology.

According to Figure, the fresh capital injection will be utilized to scale up AI training, accelerate robot manufacturing, expand engineering capabilities, and further efforts in commercial deployment. Notably, a significant portion of the funding will be allocated to collaborating with OpenAI on the creation of next-generation AI models tailored for humanoid robots.

In 2022, serial entrepreneur Brett Adcock propelled Figure into the spotlight with a bold commitment of $100 million to bootstrap the company. Adcock’s ambitious vision aimed to develop general-purpose humanoid robots within a year.

Now boasting an 80-strong workforce, Figure comprises experts from pioneering companies like Boston Dynamics, all united in addressing labor shortages in challenging or hazardous environments with their humanoid creation, Figure 01.

Despite being in its early stages, the company demonstrates signs of poised advancement. With a formidable blend of AI talent and robotics expertise, coupled with substantial financial backing, Figure is determined to accelerate its path to commercial viability.

Though progress may seem incremental today, the company’s commitment to innovation suggests a future where autonomous humanoids could revolutionize various industries. Figure’s latest funding injection marks a significant leap forward in the pursuit of this transformative vision.

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About The Author

Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

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Victor Dey
Victor Dey

Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

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