AI startup Figure raises $70 million to build humanoid robots

Variety
24-05-2023 | 09:35
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
AI startup Figure raises $70 million to build humanoid robots
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
2min
AI startup Figure raises $70 million to build humanoid robots

Figure, a startup that wants to build general-purpose humanoid robots, has raised $70 million from investors led by Parkway Venture Capital in its first external round, the company said on Wednesday.

The new funding will be used to accelerate the development and manufacturing of the company’s first autonomous humanoid, which is expected to launch in the next few months. The valuation of the one-year-old company was not disclosed, but a source close to the firm put the value at over $400 million.
 
Brett Adcock, founder and chief executive at Figure, invested $20 million personally in the round. Other investors include Aliya Capital and Bold Ventures.

Based in Sunnyvale, California, Figure develops general-purpose humanoid robots that could work in different environments and handle a variety of tasks, from warehouses to retail. It's in talks with retailers about commercialization opportunities, the company said.

Adcock, former founder of Archer Aviation (ACHR.N), said Figure differentiates from other robotics companies such as Boston Dynamics and Amazon Robotics by developing robots that can handle general tasks, with an eventual goal to enable its robots to learn and interact with the environment.
 
We believe general-purpose humanoid robots have far more potential than single-purpose robots," said Adcock, "The deployment into the workforce can help address labor shortages and over time lead the way in eliminating the need for unsafe and undesirable jobs."

Big tech companies and startups like Figure are racing to develop the next commercially viable humanoid robot.

Tesla (TSLA.O), for example, revealed a prototype of its humanoid robot 'Optimus' last year. Chief executive Elon Musk predicted the electric vehicle maker would be able to take orders for the robot in three to five years, and sell them for under $20,000.
 

AI

Artificial Intelligence

Startup

Figure

Build

Humanoid

Robots

Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
Lebanon News
2025-06-04

Samir Geagea urges government to begin disarming Palestinian factions

LBCI
World News
04:21

'No breakthrough' in Gaza ceasefire talks

LBCI
Lebanon News
2025-05-12

MP Gebran Bassil: Figures reflect our presence across all northern districts

LBCI
Middle East News
2025-06-21

Iranian nuclear scientist and his wife killed in Israeli strike: Mehr News Agency

Videos
d-none hideMe
LBCI
Lebanon News
2025-07-01

Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district

LBCI
Lebanon News
2025-06-10

Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)

LBCI
Lebanon News
2025-06-04

Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties

LBCI
Lebanon News
2025-05-19

President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels

LBCI
Lebanon News
2025-05-15

LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future

LBCI
Lebanon News
2025-05-11

Kuwait rolls out official welcome for Lebanon's President Aoun – video

LBCI
Lebanon News
2025-05-11

Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers

LBCI
News Bulletin Reports
2025-05-09

EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview

LBCI
Lebanon News
2025-04-23

US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads

Most read
d-none hideMe
24 hours
7 days
Month
LBCI
Lebanon News
07:35

Samir Geagea rejects Lebanese leadership's response to US envoy, calls it 'unconstitutional'

LBCI
Lebanon News
09:54

PM Salam after meeting Tom Barrack: Hezbollah committed to Taif, Israeli withdrawal a priority

LBCI
Lebanon News
06:05

Lebanon’s response shows openness to tackle Hezbollah weapons issue, sources tell LBCI

LBCI
News Bulletin Reports
12:48

Tom Barrack in Beirut: Lebanon submits seven pages roadmap to US envoy

LBCI
News Bulletin Reports
12:50

Seven months of ceasefire violations: New Israeli strikes hit South Lebanon as US mediation advances

LBCI
Lebanon News
08:46

Speaker Berri describes meeting with Tom Barrack as 'constructive,' emphasizes Lebanon’s sovereignty and Hezbollah’s demands

LBCI
Lebanon News
08:10

Sources: US guarantees pending, Hezbollah's position reiterated in Barrack-Berri meeting

LBCI
Lebanon News
07:51

Lebanon’s Education Ministry denies exam rumors, urges students to rely on official sources

Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
Download now the LBCI mobile app
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More