Google-backed Apptronik raises $350M to challenge Tesla in AI-powered humanoid robotics race

Apptronik, a Texas-based robotics startup, has secured a $350 million Series A funding round on Thursday to scale production of its AI-powered humanoid robots.

The investment was led by B Capital and Capital Factory, with additional backing from Google, CEO Jeff Cardenas shared in an exclusive Squawk Box interview. Apptronik previously raised $28 million and is now working on rolling out Apollo, a humanoid robot designed for industrial use.

This funding puts Apptronik among a growing list of humanoid robotics startups drawing major investor attention. Early last year, Figure AI, which is building general-purpose humanoid robots, also raised $675 million from investors including Jeff Bezos and Nvidia, bringing its valuation to $2 billion before the round.

The latest funding will help the company expand robot development, targeting industries like manufacturing and healthcare. According to Cardenas, the robots will first train separately from humans on repetitive tasks before becoming more integrated into daily operations.

Founded in 2016 by Jeff Cardenas (CEO), Nicholas Paine, and Bill Helmsing, Apptronik emerged from the Human Centered Robotics Lab at the University of Texas at Austin, launching in early 2016 with a mission to develop the next generation of robots aimed at transforming everyday life and work.

The company has built a wide range of robotic systems, including exoskeletons, humanoid torsos, bipedal mobility platforms, and robotic arms capable of lifting more than their own weight. Years of research and development have culminated in Apollo, which Apptronik describes as the most advanced humanoid robot to date.

“What’s happening in robotics is robots, with the power of AI, are becoming much more versatile,” Cardenas told CNBC. “Now we’re getting these robots out into the world in a pretty big way and scaling them up and going from industry and into the home in the future.”

Apptronik Team

Apptronik has already teamed up with NASA and Nvidia to advance its robotics technology. Over the years, the company has developed 15 robotic systems, including NASA’s humanoid robot Valkyrie.

“The target price is for these robots to be less than the price of a car, so we’ve been working over the years, we’re on our ninth iteration of human robot,” Cardenas said. “These robots are going to get much more affordable over time.”

The company is also collaborating with Google DeepMind to refine the AI that powers its robotics systems.

Tesla has also moved aggressively into the humanoid robotics space with Tesla Optimus. Goldman Sachs estimates the global market for humanoid robots could reach $38 billion by 2035.

“I think we’re right there in the race,” Cardenas said. “I think what this round represents is that our investors are really backing us and think that we have a real shot at winning this race.”