Figure, an artificial intelligence (AI) robotics company, has raised $70m in Series A funding to build general-purpose humanoid robots.
Parkway Venture Capital led the round, with participation from Aliya Capital, Bold Capital Partners, Brett Adcock, FJ Labs, Tamarack Global, and Till Reuter CEO of KUKA Robotics.
Figure is developing humanoid robots, which will initially be deployed into the workforce to help with labour shortages and support the global supply chain.
The funding will be used to hasten the development of its autonomous humanoid robot, called Figure 01, build out the company’s AI data pipeline for autonomous projects, and make humanoids commercially available.
Parkway Venture Capital co-founder and managing partner Jesse Coors-Blankenship said: “We are focused on investing in companies that are pioneers in AI technology, and we believe that autonomous humanoid robots have the potential to revolutionise the labour economy.
“We are impressed by the rapid progress that Brett and the team of industry experts at Figure have made in the last year and are thrilled to be a financial partner to provide resources to accelerate the commercialisation of Figure 01.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Figure has completed the build, integration, and testing of the alpha prototype of Figure 01 and onboarded robotics experts.
Initially, Figure will focus on industries such as manufacturing, shipping and logistics, warehousing, and retail.
Figure founder and CEO Brett Adcock said: “Figure’s near-term goal is to deploy humanoids into the workforce, and we believe that the structured, repetitive, and often dangerous tasks in warehouses are a great potential first application.
“This investment round will support the testing of early warehouse solutions and gives us the ability to move and iterate quickly ahead of commercial operations.”