Figure, a Sunnyvale, CA-based AI robotics company building general-purpose humanoid robots, raised $70 million in Series A funding.
The round was led by Parkway Venture Capital, and several other investors have participated, including Brett Adcock, Aliya Capital, Bold Capital Partners, Tamarack Global, FJ Labs, and KUKA Robotics CEO Till Reuter.
This funding will be used to accelerate the development of their autonomous humanoid robot, Figure 01, and also be used to expand Figure's AI data pipeline for autonomous operations and drive towards commercialization.
Figure is building humanoid robots designed for initial deployment into the workforce to address labor shortages and to support the supply chain on a global scale.
In recent months, Figure made notable hires across AI, Controls, Manipulation, Perception, and Commercial Operations. Figure's latest hire, Bob Klunk, joined the team as Head of Warehouse Solutions to help bring Figure 01 into its first real-world application.
"Figure's near-term goal is to deploy humanoids into the workforce, and we believe that the structured, repetitive, and often dangerous tasks in warehouses are a great potential first application. This investment round will support the testing of early warehouse solutions and gives us the ability to move and iterate quickly ahead of commercial operations. I look forward to growing this strategic partnership with Parkway and all participating investors to support the success of Figure" says Brett Adcock, Founder and CEO of Figure.
Company: Figure AI, Inc.
Raised: $70.0M
Round: Series A
Funding Month: May 2023
Lead Investors: Parkway Venture Capital
Additional Investors: Brett Adcock, Aliya Capital, Bold Capital Partners, Tamarack Global, FJ Labs, and KUKA Robotics
Company Website: https://www.figure.ai/
Software Category: AI Robotics
About the Company: Figure is an AI robotics company developing autonomous general-purpose humanoid robots. Its Humanoid is designed for initial deployment into the workforce to address labor shortages, and jobs that are undesirable or unsafe, and to support the supply chain on a global scale. The figure is a team of 50 employees based in Sunnyvale, California.
Source: https://www.prnewswire.com/news-releases/figure-announces-70m-series-a-to-support-commercialization-of-figure-01-humanoid-robot-301832819.html