Parkway Venture Capital expected to lead the Series C round, source says
16 February 2025 - 14:10
byAkash Sriram
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Figure AI’s F.02 humanoid robot is capable of fully autonomous and accurate execution of human-like and two-handed complex tasks. Picture: Supplied
Robotics start-up Figure AI is in talks to raise $1.5bn in funding that would value the company at $39.5bn, with Parkway Venture Capital expected to lead the Series C round, according to a person familiar with the matter.
Major tech companies, including Nvidia, Meta Platforms and Tesla, alongside various start-ups, are rushing to make humanoid robots, as advanced AI models accelerate innovation in robotics and automation.
Companies are betting on humanoid robots to meet potential labour shortages and perform repetitive tasks that could be dangerous or tedious such as logistics, warehousing and manufacturing. Figure AI counts German automaker BMW as a customer.
Last year, the start-up said it raised $675m in a funding round, with big-name investors such as OpenAI, Nvidia, Microsoft and Amazon.com founder Jeff Bezos, valuing the company at $2.6bn.
Figure AI’s founder and CEO Brett Adcock said last week that the start-up exited its collaboration agreement with ChatGPT maker OpenAI, citing an internal breakthrough in AI for robots.
“Figure’s AI models are built entirely in-house, making external AI partnerships not just cumbersome but ultimately irrelevant to our success,” Adcock posted on X.
Bloomberg News initially reported the development and said that Align Ventures was expected to co-lead the funding round for Figure AI, along with Parkway Venture Capital.
Align Ventures and Figure AI did not immediately respond to requests for comment on the report.
Separately, Meta Platforms is establishing a new division within its Reality Labs unit to develop AI-powered humanoid robots that can assist with physical tasks, according to an internal company memo viewed by Reuters on Friday.
In 2024, Tesla CEO Elon Musk said that the company’s humanoid robots, called Optimus, could potentially be ready by the end of 2025.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Robotics start-up Figure AI targets $39bn funding
Parkway Venture Capital expected to lead the Series C round, source says
Robotics start-up Figure AI is in talks to raise $1.5bn in funding that would value the company at $39.5bn, with Parkway Venture Capital expected to lead the Series C round, according to a person familiar with the matter.
Major tech companies, including Nvidia, Meta Platforms and Tesla, alongside various start-ups, are rushing to make humanoid robots, as advanced AI models accelerate innovation in robotics and automation.
Companies are betting on humanoid robots to meet potential labour shortages and perform repetitive tasks that could be dangerous or tedious such as logistics, warehousing and manufacturing. Figure AI counts German automaker BMW as a customer.
Last year, the start-up said it raised $675m in a funding round, with big-name investors such as OpenAI, Nvidia, Microsoft and Amazon.com founder Jeff Bezos, valuing the company at $2.6bn.
Figure AI’s founder and CEO Brett Adcock said last week that the start-up exited its collaboration agreement with ChatGPT maker OpenAI, citing an internal breakthrough in AI for robots.
“Figure’s AI models are built entirely in-house, making external AI partnerships not just cumbersome but ultimately irrelevant to our success,” Adcock posted on X.
Bloomberg News initially reported the development and said that Align Ventures was expected to co-lead the funding round for Figure AI, along with Parkway Venture Capital.
Align Ventures and Figure AI did not immediately respond to requests for comment on the report.
Separately, Meta Platforms is establishing a new division within its Reality Labs unit to develop AI-powered humanoid robots that can assist with physical tasks, according to an internal company memo viewed by Reuters on Friday.
In 2024, Tesla CEO Elon Musk said that the company’s humanoid robots, called Optimus, could potentially be ready by the end of 2025.
Reuters
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