Robotics Startup Figure Secures $675 Million Funding and Collaborates with OpenAI

Figure, a startup based in Sunnyvale, California, is at the forefront of developing humanoid robotics to address the labor shortages in industries like warehousing and retail. The company has recently garnered significant investment and increased its valuation.

Today, Figure announced an impressive $675 million funding round, backed by leading technology entities including Microsoft, OpenAI Startup Fund, NVIDIA, Jeff Bezos (through Bezos Expeditions), Parkway Venture Capital, Intel Capital, Align Ventures, and ARK Invest. Following this influx of capital, Figure's valuation now stands at $2.6 billion, marking its status as a unicorn with over 2.5 times growth.

CEO and founder Brett Adcock, previously of aerospace startup Archer Aviation, shared on X that these funds will expedite the “timeline for humanoid commercial deployment” and facilitate the “deployment of more robots.”

A Strategic Collaboration

Additionally, Figure has entered a collaboration agreement with OpenAI. This partnership aims to leverage OpenAI's advanced AI capabilities to develop models that will enhance the cognitive functions of Figure’s robots.

Recently, Figure showcased its Figure 01 prototype, successfully making coffee solely using neural networks trained on visual data. Adcock noted that OpenAI’s models will bolster the robot operating system's machine learning functions.

Peter Welinder, VP of Product and Partnerships at OpenAI, expressed enthusiasm for this collaboration, emphasizing the potential of humanoid robots powered by advanced multimodal models. He stated, “We’re impressed by Figure’s progress and look forward to exploring new possibilities for robots in everyday life.”

Collaborations with Industries

In a related development, Figure has partnered with BMW Manufacturing to implement its robots in automotive manufacturing plants. The substantial backing from prominent tech and automotive companies underscores Figure's impressive progress since its inception just 21 months ago by former employees of Boston Dynamics, Tesla, Google DeepMind, and Archer Aviation.

Figure is positioning itself to compete with Tesla’s Optimus humanoid project and established startups like Oregon’s Agility Robotics, which is testing its humanoid robot, “Digit,” for tasks in fulfillment warehouses.

As Figure continues to innovate in humanoid robotics, it stands poised to transform labor-intensive industries.