Bezos, Nvidia back $675M funding for humanoid robot startup Figure AI; now valued at $2 billion

Figure AI, an AI startup known for developing general-purpose humanoid robots, has raised $675 million in new funding, Bloomberg reported, citing sources familiar with the matter. The new capital infusion pushes Figure AI’s pre-money valuation to $2 billion from $400 million in May 2023.

This round is led by Microsoft and OpenAI, with significant investments from Jeff Bezos, Nvidia, and an Amazon-affiliated fund.
The significant funding underscores the growing interest surrounding the advancement of humanoid robot technology and its potential to transform various sectors.

Based in Sunnyvale, California, Figure is building humanoid robots designed for initial deployment into the workforce to address labor shortages and support the supply chain on a global scale. Figure AI’s robots are specifically engineered to be adaptable and flexible, capable of performing a wide range of tasks in environments ranging from warehouses to retail spaces.

This news follows OpenAI’s launch of ChatGPT in November 2022, which has sparked interest in artificial intelligence (AI) startups and their potential to disrupt established players.

We covered Figure AI back in May when the humanoid robot startup raised $70 million in Series A funding to accelerate the development and accelerate the development and manufacturing of the first-of-its-kind AI autonomous humanoid called Figure 01.

The timing of this announcement is particularly noteworthy, coinciding with the ongoing buzz surrounding artificial intelligence (AI) since the launch of OpenAI’s ChatGPT in November 2022. This milestone has spurred heightened interest among investors in AI startups, particularly those poised to disrupt traditional players within the tech industry.

The financial commitment breakdown reveals that Bezos, channeling funds through his venture Explore Investments LLC, is earmarking a substantial $100 million. Simultaneously, Microsoft is set to inject $95 million, with Nvidia and an Amazon-affiliated fund contributing $50 million each, Bloomberg added.

This surge in investments within the artificial intelligence startup realm follows the resounding success of OpenAI’s viral chatbot, ChatGPT, which made waves since its launch in November 2022. Investors, sensing a lucrative opportunity, are positioning their bets on these startups, envisioning them potentially surpassing established industry behemoths.

Interestingly, OpenAI, the creator of ChatGPT, is not just witnessing the AI revolution from the sidelines. Despite earlier contemplations of acquiring Figure, the organization is now actively investing $5 million in the venture, according to the report. Additional support is flowing in from a diverse group of backers, including Intel’s venture capital arm, LG Innotek, Samsung’s investment group, Parkway Venture Capital, and Align Ventures.

The investment landscape further expands with contributions from ARK Venture Fund, Aliya Capital Partners, and Tamarack, all joining the ranks of Figure AI’s enthusiastic supporters, according to the report.

When approached for comments, Amazon, Nvidia, Microsoft, and Intel chose to remain tight-lipped on the matter, maintaining an air of secrecy. Similarly, Figure AI and other entities mentioned in the report have yet to respond to Reuters’ requests for official statements.