AI and robotics company 1X has announced a significant milestone, securing $100 million in Series B funding. The round, with contributions from EQT Ventures and other global investors, marks a substantial step for the company specializing in android development.
The Advent of NEO: A New Era of Domestic Assistance
1X's latest project, NEO, a bipedal humanoid android, is at the center of this funding boost. NEO is designed for a variety of home assistance tasks, targeting the consumer market with its versatile capabilities. The android is set to revolutionize domestic chores, offering an innovative solution to everyday tasks.
Strategic Investments and Enterprise Applications
The funding will also bolster 1X's offerings in the logistics and guarding sectors for its enterprise clients. With a focus on safety and advanced data collection methods, 1X aims to stand out in the AI robotics field. The investment follows a successful Series A round led by OpenAI and Tiger Global in March 2023, bringing the total funding raised by 1X to over $125 million in under a year.
A Future Shaped by Androids
Bernt Øivind Børnich, CEO of 1X, expressed enthusiasm for the investor support, which aligns with the company's goal of deploying Androids into new markets. The emphasis is on scaling data collection for Embodied AI and making NEO accessible to consumers.
Notable participants in this funding round include Samsung NEXT, Skagerak Capital, and the Nistad group, alongside Sandwater, which increased its stake significantly.
EQT Ventures' Vision on Humanoid Robotics
Ted Persson, Partner at EQT Ventures, reflected on the long-standing human fascination with humanoid robots, dating back to Leonardo da Vinci and spanning centuries of science fiction. Persson sees the development of androids like NEO as a transformative step in technology, envisioning a future where androids join the human workforce, reshaping society on fundamental levels.
The Road Ahead
With this fresh influx of capital, 1X is poised to make significant strides in bringing advanced android technology to both consumer and enterprise sectors. NEO represents a blend of visionary design and practical application, potentially setting a new standard in the field of AI robotics. As 1X gears up to launch NEO, the world watches with anticipation, ready to embrace the possibilities of a future augmented by androids.
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