Humanoid robot start-up Figure AI valued at $2.6 billion as Bezos, OpenAI, Nvidia join funding

Figure AI, a start-up specializing in humanoid robots for challenging tasks, has achieved a valuation of $2.6 billion in its latest funding round, attracting investments from notable names such as Jeff Bezos, OpenAI, and Nvidia.

The company, established in 2022, has developed the Figure 01 robot, designed to perform tasks resembling human movements. With applications in manufacturing, shipping, logistics, warehousing, and retail, Figure AI aims to address labour shortages in these industries. The funding round emphasizes the potential of humanoid robots in various sectors, with the company not intending to deploy its machines for military or defence purposes.

The showcased Figure 01 demonstrated its ability to walk, pick up objects, and execute tasks autonomously, signalling the company’s ambition for humanoid robots to handle everyday activities. The funding round also includes partnerships with OpenAI and the utilization of Microsoft’s Azure cloud services for AI infrastructure.

Figure AI operates in a competitive landscape alongside other companies like Agility Robotics, Tesla, and Boston Dynamics, all striving to bring humanoid robots into practical use. The company’s valuation reflects the growing interest and potential in the humanoid robot market, projected to reach $38 billion by 2035.

Investors in this funding round include Jeff Bezos, OpenAI, Nvidia, Intel’s venture fund, Ark Invest led by Cathie Wood, Align Ventures, and existing investor Parkway Venture Capital.