Nvidia, Jeff Bezos, and several leading technology companies are investing in Figure AI, a startup that creates human-like robots. The company is securing approximately $675 million in funding, valuing it at about $2 billion before the investment, reports Bloomberg.
Figure AI has attracted significant interest from the tech industry, with investments from major players like Microsoft, which is contributing $95 million, and Nvidia, along with an Amazon-affiliated fund, each investing $50 million. Bezos has committed to $100 million via Explore Investments, LLC.
The startup's ambitious project aims to push the capabilities (possibly including those of Amazon) of AI and robotics with the support of these influential backers. Figure AI aims to position its AI-powered Figure 01 robot in warehouses worldwide. Figure 01 is an autonomous machine that can learn and perform warehouse jobs.
Other notable investors in the funding round include Intel Corp.'s venture capital arm, which injects $25 million, and LG Innotek, which contributes $8.5 million. Samsung's investment group is also participating with a $5 million commitment. The involvement of these companies underscores the widespread interest in the potential of AI-powered humanoid robots.
The funding round has also attracted significant venture capital interest. Parkway Venture Capital is investing $100 million, while Align Ventures is providing $90 million. Additional backers include the ARK Venture Fund, Aliya Capital Partners, Tamarack, Boscolo Intervest Ltd., and BOLD Capital Partners, contributing varying amounts to the total funding.
OpenAI, a ChatGPT-maker and an early supporter of Figure AI, is investing $5 million, having previously considered acquiring the startup.
Initially seeking $500 million, the funding round has surpassed expectations, thanks in part to the early involvement of Microsoft and OpenAI, which helped attract further investment.
The AI robotics sector is experiencing a surge in activity, with other companies like 1X Technologies, Sanctuary AI, and Tesla also working on humanoid robots. Figure AI's successful funding round highlights the growing interest and investment in developing robots that can perform complex tasks and address workforce challenges.
