Robotics startup Figure AI is reportedly in talks to secure $1.5 billion in Series C funding, potentially valuing the company at $39.5 billion. According to a source familiar with the discussions, Parkway Venture Capital expects to lead the round.
As advanced AI models drive rapid innovation in robotics and automation, major tech players like Nvidia, Meta Platforms, Tesla, and numerous startups compete to develop humanoid robots.
Companies are designing humanoid robots to address future labour shortages and handle repetitive, hazardous, or tedious logistics, warehousing, and manufacturing tasks. Figure AI already counts German automaker BMW among its customers.
Last year, Figure AI announced it had raised $675 million in a funding round that included prominent investors such as OpenAI, Nvidia, Microsoft, and Amazon.com founder Jeff Bezos, bringing the company’s valuation to $2.6 billion.
Founder and CEO Brett Adcock revealed last week that Figure AI has ended its collaboration agreement with ChatGPT creator OpenAI, attributing the decision to an internal breakthrough in AI technology for robotics.
“Figure’s AI models are built entirely in-house, making external AI partnerships not just cumbersome but ultimately irrelevant to our success,” Adcock posted on X.
Bloomberg News first reported the development, noting that Align Ventures expects to co-lead Figure AI’s funding round alongside Parkway Venture Capital.
Both Align Ventures and Figure AI have yet to respond to requests for comment on the report.
If finalized, this funding round would mark a significant milestone for Figure AI, further solidifying its position in the competitive robotics industry and fueling its efforts to advance humanoid robotics technology.
