Figure Secures $70M Series A Funding to Accelerate Development of Figure 01 Humanoid Robot!

California-based Figure has announced a significant milestone in its journey towards revolutionizing labor economies with the closure of a $70 million Series A funding round. Founded by Brett Adcock, the company aims to leverage this substantial investment to propel the development of its flagship humanoid robot, Figure 01, and advance its AI-driven autonomous operations for commercialization.

Led by Parkway Venture Capital and bolstered by contributions from Adcock himself, alongside Aliya Capital, Bold Ventures, Tamarack Global, FJ labs, and KUKA Robotics CEO Till Reuter, this funding round marks a pivotal moment for Figure's ambitious endeavors.

While the physical manifestation of Figure 01 has yet to be unveiled, initial specifications reveal a humanoid standing at 5-feet, 6-inches tall, with a weight of 60 KG and a payload capacity of up to 20 KG. Positioned as a solution to labor shortages and a support system for global supply chains, Figure is poised to introduce humanoids into the workforce, catering to structured, repetitive, and potentially hazardous tasks.

Recent strategic hires across key domains including AI, controls, manipulation, perception, and commercial operations underscore Figure's commitment to assembling a multidisciplinary team capable of driving innovation. Notably, the appointment of Bob Klunk as head of warehouse solutions signals Figure's intent to transition from concept to practical application, leveraging Klunk's extensive experience in fulfillment operations.

Jesse Coors-Blankenship, Co-Founder and Managing Partner of Parkway Venture Capital, expresses confidence in Figure's trajectory, stating, "We're focused on investing in companies that are pioneers in AI technology, and we believe that autonomous humanoid robots have the potential to revolutionize the labor economy." Coors-Blankenship emphasizes Figure's rapid progress and the collective vision to accelerate the commercialization of Figure 01.

Adcock's entrepreneurial track record, with successful ventures such as Vettery and Archer Aviation, underscores his prowess in navigating disruptive technological landscapes. Vettery, an online talent marketplace acquired by the Adecco Group, and Archer Aviation, a publicly-traded company developing eVTOL aircraft, serve as testament to Adcock's vision and execution capabilities.

Dr. Jerry Pratt, Figure's Chief Technology Officer, brings a wealth of experience in robotics, with a focus on humanoid research spanning over two decades. Formerly a principal investigator at the Institute for Human and Machine Cognition (IHMC), Pratt's expertise in robotics and his pivotal role in the DARPA Robotics Challenge position him as a driving force behind Figure's technological advancements.

As Figure embarks on its mission to deploy humanoids into the workforce, leveraging structured, repetitive tasks in warehouses as an initial application, the Series A funding injects momentum into the company's roadmap. Adcock articulates Figure's strategic direction, stating, "Our near-term goal is to deploy humanoids into the workforce, and we believe that the structured, repetitive, and often dangerous tasks in warehouses are a great potential first application." The investment round will facilitate the testing of early warehouse solutions and expedite preparations for commercial operations.

In summary, Figure's $70 million Series A funding heralds a new chapter in the evolution of humanoid robotics, poised to redefine labor economies and catalyze innovation across industries. With a formidable team, visionary leadership, and a commitment to technological excellence, Figure stands at the forefront of revolutionizing the future of work.