Figure AI, an innovative startup specializing in the development of humanlike robots, is reportedly in advanced discussions to secure up to $500 million in a funding round. This round is notably led by tech giants Microsoft and OpenAI, according to sources familiar with the matter.
The startup, known for its ambitious AI-powered humanoid robot projects, is actively seeking additional investors to join this significant financial injection. The funding round, which is yet to be finalized, could propel Figure AI into the upper echelons of startup valuations. A person close to the negotiations, who preferred to remain anonymous, indicated that the deal could value Figure at $1.9 billion before the infusion of the new capital. Depending on the final amount raised, the post-money valuation could see the company’s worth soar, potentially doubling its status as a unicorn.
In the proposed funding scenario, Microsoft is expected to contribute approximately $95 million, with OpenAI chipping in around $5 million. However, these figures are subject to change as the deal is still in the negotiation phase and could either shift in value or fall through entirely. Representatives from Microsoft, OpenAI, and Figure have refrained from commenting on the ongoing discussions.
Figure AI has been at the forefront of creating AI-driven robots that mimic human appearance and movement. The company’s flagship robot, Figure 01, is envisioned to perform high-risk tasks unsuitable for humans, potentially revolutionizing sectors plagued by labor shortages. This initiative aligns with the broader trend in the AI robotics sector, which has seen a flurry of activity and investment in recent times.
Last year, Figure raised $70 million in a funding round spearheaded by Parkway Venture Capital. CEO Brett Adcock expressed the company’s aspiration to be among the pioneers in marketing functional humanoids capable of commercial activities.
The AI robotics industry is witnessing a surge in interest and investment. Norwegian AI robotics startup 1X Technologies AS, backed by OpenAI, recently raised $100 million. Sanctuary AI is developing a humanoid robot named Phoenix in Vancouver, and Tesla, under Elon Musk’s direction, is working on a robot known as Optimus.
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