The robotics industry has witnessed a significant leap forward as Figure AI Inc. has announced a massive $675 million Series B funding, catapulting the company’s valuation to an impressive $2.6 billion. This capital injection marks a pivotal step toward the development and commercialization of advanced humanoid robots. The funding round saw high-profile investors such as Microsoft, OpenAI Startup Fund, NVIDIA, Amazon Industrial Innovation Fund, and others, backing the Sunnyvale, California-based firm. The strategic financial counsel for Figure was provided by Qatalyst Partners.
Accelerated Growth and Robust Partnerships
Since its emergence from stealth mode in January 2023, Figure AI, co-founded by seasoned entrepreneur Brett Adcock, has been on a swift trajectory to bring its robots to market. Adcock, who has a history of successful startups, attributes this rapid growth to efficient timing and strategic hiring. The company aims to enhance its AI capabilities, ramp up robot manufacturing, and recruit specialized engineers with the fresh capital to meet its ambitious product launch target for 2024-2025.
Adcock builds on experience, teamwork
A testament to the company’s swift progress is Adcock’s prior founding of Vettery and Archer Aviation, both of which have marked significant achievements in their respective fields. Before embarking on the Figure AI journey, Adcock sought insight from Aaron Ames’s AMBER bipedal robotics lab at Caltech, a notable hub for groundbreaking bipedal locomotion research. Figure AI’s team, comprising industry veterans with backgrounds from prestigious organizations like Boston Dynamics, Google DeepMind, and Tesla, has been instrumental in the company’s development of bipedal walking technology.
Expanding on the context of Figure AI’s venture, an article from “The Verge” titled “Humanoid Robots: Striding into Tomorrow” delves into the broader advancements in the field of robotics. As Figure AI forges ahead with its humanoid robotics program, the article from “The Verge” highlights similar endeavors across the industry, where companies are increasingly seeking to integrate robotics into everyday life. The insights provided in the article underscore the burgeoning potential of humanoid robots to revolutionize work in various sectors, including those that are labor-intensive or present harsh conditions for human workers.
A startup mature beyond its years
The Robot Report’s visit to Figure AI’s facility revealed an impressive setup ripe for innovation. A peek into the company’s prototyping process offered a glimpse of the meticulous, iterative development, featuring state-of-the-art equipment like CNC metalworking and 3D printing technologies. A deconstructed robot on display, showcasing the company’s transparent approach to problem-solving, further emphasizes Figure AI’s commitment to robust development practices.
Figure and OpenAI to collaborate on AI
In a collaborative effort to expand the horizons of robotics and AI, Figure AI has announced a partnership with OpenAI. This venture aims to merge OpenAI’s cutting-edge language research with Figure’s robotic hardware, setting the stage for new breakthroughs in AI-driven humanoid capabilities. The partnership envisions robots that can support and enhance human activities in myriad ways, further propelled by Microsoft Azure’s robust AI infrastructure.
The journey of humanoid robotics is surging with Figure AI’s latest financial milestone, demonstrating investor confidence and the industry’s readiness for a future where humanoids could become a common aspect of everyday life. With groundbreaking collaborations and technological prowess, Figure AI stands at the cusp of making science fiction a tangible reality.
