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Figure.ai, an AI robotics startup developing autonomous general-purpose humanoid robots, recently raised $675 million in a Series B funding round at a whopping $2.6 billion valuation.
The funding round saw participation from tech giants and investment powerhouses, including Microsoft, OpenAI Startup Fund, NVIDIA, Jeff Bezos through Bezos Expeditions, Parkway Venture Capital, Intel Capital, Align Ventures, and ARK Invest.
The round is crucial for the startup as it will focus on accelerating its commercial deployment of humanoid robots.
Partnering with AI giant OpenAI
In a move to advance the development of next-generation AI models for humanoid robots, Figure has entered into a collaboration agreement with Sam Altman OpenAI, known for ChatGPT.
The partnership aims to merge OpenAI's cutting-edge research with Figure's robust understanding of robotics hardware and software, thereby enhancing the robots' ability to process and reason from language.
Peter Welinder, VP of Product and Partnerships at OpenAI, said, "We're blown away by Figure's progress to date and we look forward to working together to open up new possibilities for how robots can help in everyday life."
The Visionaries Behind Figure
The team behind Figure is composed of top AI robotics experts from prestigious organizations such as Boston Dynamics, Tesla, Google DeepMind, and Archer Aviation. Under the leadership of CEO Brett Adcock, a seasoned entrepreneur with a track record of successful startups, Figure has made significant strides in AI, robot development, testing, and commercialization. Notably, the company has already announced its first commercial agreement with BMW Manufacturing to integrate humanoids into automotive production. Adcock's vision is clear: "Our vision at Figure is to bring humanoid robots into commercial operations as soon as possible... AI and robotics are the future."
Leveraging Azure AI infrastructure
To support its ambitious goals, Figure will leverage Microsoft Azure for AI infrastructure, training, and storage.
"We are excited to collaborate with Figure and work towards accelerating AI breakthroughs. Through our work together, Figure will have access to Microsoft's AI infrastructure and services to support the deployment of humanoid robots to assist people with real-world applications," said Jon Tinter, Corporate Vice President of Business Development at Microsoft.
Transforming the landscape of labour
With a team of veterans from Boston Dynamics, Tesla, Google DeepMind, and Archer Aviation, cutting-edge technology, and strong financial and technological support, Figure is poised to transform the landscape of labor, addressing shortages, and enhancing efficiency in various sectors.
As the company scales up its AI training and manufacturing capabilities, the world watches closely, anticipating the transformative impact Figure's humanoid robots will have on society and the global economy.
Qatalyst Partners provided strategic and financial advice to Figure on this transaction.