Figure AI Inc, a tech start-up building autonomous artificial intelligence-driven humanoid robots for commercial applications, has received sizeable investments from major tech companies like OpenAI, Microsoft, Nvidia Corp and Amazon’s Jeff Bezos through his firm Explore Investments LLC, Bloomberg reports.
The humanoid robot start-up is raising about $675 million in funding according to Bloomberg’s sources, who declined to reveal their identities.
Meet Figure 01 pic.twitter.com/mQa2b59Vju
— Figure (@Figure_robot) October 18, 2023
Bezos is apparently fronting $100 million, Microsoft $95 million and a fund affiliated with Nvidia and Amazon is investing $50 million.
Figure AI’s founder Brett Adcock believes autonomous robots will eliminate the need for unsafe and undesirable jobs, and could potentially address the problem of a global ageing population and labour shortages.
A who’s who of tech
Joining some of the biggest names in tech were more standouts – Intel Corp, LG Innotek and Samsung also made sizeable investments of between $5 and $25 million.
Alongside them were several capital venture firms like Parkway Venture Capital, Align Ventures, ARK Venture Fund and Aliya Capital Partners.
OpenAI at one point considered acquiring the company, but instead invested $5 million as an initial lead investor alongside Microsoft.
Given Figure AI has received commitments for $675 million while only seeking $500 million in capital, humanoid robots may be the next big AI-related tech venture.