Humanoid robot startup plans to raise funding from Microsoft

Photo: Figure AI Inc.

Figure AI Inc., a startup developing humanoid robots, is in talks to raise up to $500 million in funding, including money from Microsoft and OpenAI.

This was reported by Bloomberg, citing a source working with the startup.

It is noted that the startup's founders are looking for additional investors for the deal. According to one scenario, they expect Microsoft to invest $95 million and OpenAI – $5 million.

According to the source, the funding deal could give Figure a preliminary valuation of $1.9 billion, and after receiving the money, the startup's value could be significantly higher depending on the amount raised.

However, the round of negotiations is not yet complete, so the investment amounts may change and the deals may fall through.

Figure is developing artificial intelligence robots that look and move like humans. The company said it hopes its machine, called Figure 01, can perform dangerous jobs that humans are not suited to, and that the technology will help alleviate labor shortages.

In May 2023, Figure raised $70 million in funding from Parkway Venture Capital.

“We hope to be one of the first companies to bring a humanoid to market that can actually be useful and commercially viable,” said the company's CEO, Brett Adcock.

The AI and robotics industry has been in a state of flux recently. Earlier in January, Norwegian AI startup 1X Technologies AS, backed by OpenAI, raised $100 million in funding. Vancouver-based Sanctuary AI is also developing a humanoid robot called Phoenix.

Elon Musk previously announced that Tesla Inc. is working on a robot called Optimus. It was demonstrated at AI Day 2022 in October 2022. During the presentation, the robot walked for the first time without any mechanical supports and waved its arms in the air.