Startup humanoid robot developer company, Figure AI, is currently discussing with Microsoft and OpenAI to raise $500 million in funding, as reported by Bloomberg.
One of the possible funding would be the $95 million investment from Microsoft and $5 million from OpenAI.
Read Also: Tesla Optimus Robot Shows Skills at Folding Laundry During Pre-Scripted Demo
Figure AI Raises Funds for Humanoid Robots
Figure AI is currently focused on developing AI-powered robots that resemble the appearance and movements of a human. According to the founder and CEO Brett Adcock, the robots have great potential for handling dangerous tasks in warehouses.
"We hope that we're one of the first groups to bring to market a humanoid that can actually be useful and do commercial activities," the CEO shared in a previous interview.
In early 2023, the company reportedly raised $70 million led by Parkway Venture Capital. Months after the investment, the startup is still aiming to get additional investors from Microsoft and OpenAI.
The company was founded in 2022 with a 50-person team including former employees from Boston Dynamics, Tesla, Google's moonshot lab, and more.
Figure's Plan for Humanoid Robots
Aside from its established plan to cater to warehouse help, the company also disclosed that the robot services would be offered as a subscription-based contract. This type of model would make it more affordable for companies instead of purchasing the robot outright.
Moreover, the companies will be allowed to do simultaneous updates both in software and hardware. Figure 01, the company's robot name, had planned to provide demos in warehouses.
Figure also shared that the robot will be piloted in commercial areas under one or two clients within the next two years. The company also acknowledged that it would take around five years before the robots become adopted for wider use.
Related Article: Figure, BMW Develop Autonomous Humanoid Robots for Unsafe Repetitive Manufacturing Tasks
