U.S. startup Figure raises $70 million to make a humanoid robot

Humanoid robots

A U.S. startup named Figure, which aims to create general – purpose humanoid robots, said on Wednesday that it has raised $70 million in its first external round from investors led by Parkway Venture Capital. The new funds will be used to speed up the company’s first autonomous humanoid development and production. According to reports, this new product should hit the market in the coming months. The value of the one-year-old firm was not made public, but an inside source claims that it is worth above $400 million. Brett Adcock, the founder and CEO of Figure, invested his own $20 million, in along with Bold Ventures and Aliya Capital.

humanoid robot

General Purpose Humanoid robot for various needs

The Sunnyvale, California – based company Figure seeks to create a general – purpose humanoid robot that can operate in various settings. The robot should also be able to carry out a range of duties, from retail to warehousing. The company said that it is now talking about sale options with stores. Figure, according to Adcock, a co – founder of Archer Aviation, develops general – purpose robots that will eventually be able to learn and interact with what is around them. This sets them apart from other robotics firms like Boston Dynamics and Amazon Robotics. Adcock said

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“We believe general – purpose humanoid robots have far more potential than single-purpose robots … The deployment into the workforce can help address labor shortages. Also, over time, it can lead the way in eliminating the need for unsafe and undesirable jobs.”

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The next wave of feasible humanoid robots is being built. At the moment, there is a race between the large tech giants and startups like Figure. For instance, when Tesla debuted the “Optimus” humanoid robot prototype last year, Elon Musk, the company’s CEO, promised that Tesla will be able to accept orders for the robot within three to five years and sell it for less than $20,000.

At the moment, we can not tell if Figure will succeed in its quest. However, the new funds it just got is a big step. We will have to wait and see what the company will bring to the market.

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