Humanoid robot startup Figure valued at $2.6bn in latest raise

The new round of funding values Figure, based in California, at $2.6bn. Set up in 2021, Figure includes AI and robotics experts with previous experience at Boston Dynamics, Tesla, Google DeepMind, and Archer Aviation.

Rather than the specialised robots already pervasive in high-tech industrial environments, Figure is working towards general purpose humanoid robots that can carry out a variety of tasks. To do this, it is seeking to merge advanced levels of AI with the latest in humanoid robotic technology. It's Figure 01 robot measures around 1.7m in height and weighs in at 60kg. According to the company, it can carry a 20kg payload, move at 1.2M/S and operate for up to five hours. 

In tandem with the latest investment, Figure and OpenAI – the developer behind ChatGPT - are collaborating on novel AI models for humanoid robots. It’s hoped the partnership will help accelerate Figure's commercial timeline by enhancing the capabilities of humanoid robots to process and reason from language. In January 2024, the company announced that it had signed an agreement with BMW to deploy general purpose robots in automotive manufacturing environments.

"We've always planned to come back to robotics and we see a path with Figure to explore what humanoid robots can achieve when powered by highly capable multimodal models,” said Peter Welinder, VP of Product and Partnerships at OpenAI.

“We're blown away by Figure's progress to date and we look forward to working together to open up new possibilities for how robots can help in everyday life."

Fellow Series B investors Microsoft will also partner up on the development side, supporting Figure with Microsoft Azure for AI infrastructure, training, and storage. According to Figure, the capital injection will be used to scale up AI training and robot manufacturing, as well as boost engineering headcount and expand commercial deployment.

"Our vision at Figure is to bring humanoid robots into commercial operations as soon as possible,” said Brett Adcock, founder and CEO of Figure. “This investment, combined with our partnership with OpenAI and Microsoft, ensures that we are well-prepared to bring embodied AI into the world to make a transformative impact on humanity.”