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Figure AI raises whopping $675M to commercialize humanoids

The fledgling field of humanoid robotics received a mammoth boost this week with AI startup Figure securing $675 million in Series B funding - propelling its valuation to $2.6 billion within two years of inception. Figure aims to be the first to deliver general-purpose humanoid robots at commercial scale.



Founded in 2022 by repeat entrepreneur Brett Adcock, Figure has aggressively raced to develop bipedal humanoids for assisting human workers. Its leadership combines veterans from pioneering robots firms like Boston Dynamics and Institute for Human and Machine Cognition. This rare mix of business savvy and technical pedigree has already manifested working Figure 01 prototypes that are undergoing factory trials with BMW.


     Figure AI timeline

  • May 2022: Brett Adcock founds Figure AI.
  • January 2023: Figure exits stealth mode.
  • April 2023: Figure raises $70 million in Series A funding.
  • May 2023: Figure 01 takes first steps; Brett Adcock on The Robot Report Podcast.
  • July 2023: Figure raises venture round of $9 million.
  • October 2023: First video and images of Figure 01 prototype posted.
  • January 2024: BMW announces that it will test Figure 01 at an automotive plant.
  • February 2024: Figure raises $675 million in Series B funding for $754 million to date, according to Crunchbase.


The seed funding round included Microsoft, NVIDIA and even Amazon's industrial innovation arm - companies eyeing facilitative robotics for their operations. Figure will leverage Microsoft's cloud infrastructure for scaled AI development. While rival pioneer OpenAI will collaborate on cutting-edge cognitive models for the robots. Figure also possesses extensive in-house machine shops and testing labs to hasten iterative product development.


This technology-to-market maturity beyond its years has attracted investor confidence in Figure executing its vision of commercial humanoids within the next two years. The Series B round shatters funding records for humanoid startups - dwarfing the $150 million raised by competitor Agility Robotics. It also continues 2023's flood of VC and corporate capital chasing the elusive goal of versatile autonomous humanoids.


Figure's rapid progress has broader ripple effects across the robotics landscape. The company concentrates singularly on mass-producing humanoids, contrasting with Boston Dynamics' multi-robot portfolio. This sharp focus, aligned funding and an urgency to capture first-mover advantage could make Figure a trailblazer in ushering humanoids into mainstream business and society. If its robots succeed at automating dirty, dull and dangerous jobs, while collaborating safely with people, Figure may become the breakout startup that moves robots from industrial niches toward ubiquitous roles across homes, offices and clinics.

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