Humanoid robot company Figure is on the verge of securing a massive $500 million investment, led by tech giants Microsoft and OpenAI. The funding round could potentially value Figure at nearly $1.9 billion, making it one of the highest-valued AI startups worldwide. If the deal goes through, Microsoft plans to invest around $95 million, while OpenAI is considering contributing $5 million.
Figure, which was founded in 2022, specializes in the development of dexterous and safe humanoid robots. Its flagship robot, Figure 01, is specifically designed to undertake dangerous tasks such as firefighting and construction, which are hazardous for humans. The company aims to address labor shortages in various industries by leveraging its advanced robotics technology.
This new investment will provide Figure with the means to significantly expand its research and development activities. Currently, the company employs a team of over 150 experts in robotics and engineering, ranging from mechanical engineering to computer vision and machine learning. Figure’s ultimate goal is to deploy its robots commercially to generate revenue.
The robotics industry is experiencing a surge in interest and investment, with major players competing to advance humanoid robot technologies. Earlier this month, OpenAI-backed 1X raised a substantial $100 million for its robots. Additionally, companies like Xiaomi and Elon Musk’s Tesla are making significant progress in this field.
Xiaomi introduced its first humanoid robot, CyberOne, in 2022. The Chinese company claims that CyberOne has enhanced vision capabilities and can even recognize human emotions. Its real-time reaction speed enables the robot to mimic human movements accurately.
Meanwhile, Tesla unveiled its humanoid robot, Optimus, in 2022. Just yesterday, Elon Musk shared a video showcasing the final version of the robot, stating, Going for a walk with Optimus.
With the new investment and increasing competition, Figure AI is set to make significant strides in the development of humanoid robots. This funding round, led by Microsoft and OpenAI, will not only boost Figure’s research and development activities but also solidify its position within the industry.
As the demand for robotics continues to grow, the future looks promising for companies like Figure, Xiaomi, and Tesla. These technological advancements have the potential to revolutionize various sectors and overcome the challenges posed by labor shortages.
