Figure, a robotics startup based in Sunnyvale, California, has recently made headlines with its impressive $675 million funding round, which includes investments from industry giants such as Microsoft, NVIDIA, and Jeff Bezos. With this funding, Figure is now valued at $2.6 billion, solidifying its position as a unicorn in the robotics industry.
The startup, founded just 21 months ago by former employees of Boston Dynamics, Tesla, Google DeepMind, and Archer Aviation, is focused on developing humanoid robots to address labor shortages in heavy and manual labor-focused industries like warehousing and retail. Figure aims to ease the burden on workers in these industries by deploying robots that can perform tasks traditionally done by humans.
To further bolster its capabilities, Figure has entered into a collaboration agreement with OpenAI, a renowned AI research lab. The partnership will allow Figure to leverage OpenAI’s expertise in developing AI models to enhance the brains of its robots. CEO and founder Brett Adcock expressed excitement about the collaboration, stating that it will push the limits of robot learning and open up new possibilities for how robots can assist in everyday life.
In addition to its collaboration with OpenAI, Figure has also secured a partnership with automaker BMW Manufacturing. This partnership will see Figure’s robots being deployed in BMW’s auto manufacturing plants and facilities. The agreement with BMW highlights Figure’s ability to impress established players in adjacent industries with its technology and roadmap.
Figure is not without competition in the robotics space. It is set to directly compete with Tesla’s Optimus humanoid robotic project, as well as startups like Oregon’s Agility Robotics, which has partnered with Amazon to test its humanoid robot, “Digit,” for use in fulfillment warehouses. However, Figure’s impressive funding round and strategic partnerships position it as a formidable player in the industry.
With the newly secured funding, Figure plans to ramp up its timeline for commercial deployment of humanoid robots. The investment will be used for AI training, manufacturing, deploying more robots, expanding the engineering team, and advancing commercial deployment efforts. This financial boost will undoubtedly accelerate Figure’s progress in bringing its innovative robotic solutions to market.
As Figure continues to make waves in the robotics industry, it is clear that the startup is poised for success. With its focus on addressing labor shortages and partnerships with industry leaders, Figure is well-positioned to revolutionize heavy and manual labor-focused industries with its advanced humanoid robots. The future looks bright for this emerging startup as it continues to push the boundaries of robot learning and pave the way for a new era of automation.