Figure announces $70m Series A to support commercialization of Figure 01 humanoid robot

Figure announces $70m Series A to support commercialization of Figure 01 humanoid robot

Published: 31-05-2023 11:47:00 | By: Pie Kamau | hits: 3514 | Tags:

Figure, an AI Robotics company building general purpose humanoid robots, announced its $70 million Series A funding round. This new funding will be used to accelerate the development of Figure 01 (the company's autonomous humanoid robot), build out Figure's AI data pipeline for autonomous operations, and drive towards commercialization. The round is led by Parkway Venture Capital and joined by participating investments from Brett Adcock, Aliya Capital, Bold Capital Partners, Tamarack Global, FJ labs, and KUKA Robotics CEO Till Reuter. This funding news comes on the heels of Figure's emergence from stealth.

Jesse Coors-Blankenship, Co-founder and Managing Partner, Parkway Venture Capital: "We're focused on investing in companies that are pioneers in AI technology, and we believe that autonomous humanoid robots have the potential to revolutionize the labor economy. We are impressed by the rapid progress that Brett and the team of industry experts at Figure have made in the last year and are thrilled to be a financial partner to provide resources to accelerate the commercialization of Figure 01." 

Figure is building humanoid robots designed for initial deployment into the workforce to address labor shortages and to support supply chain on a global scale. In recent months, Figure made notable hires across AI, Controls, Manipulation, Perception, and Commercial Operations. Figure's latest hire, Bob Klunk, joined the team as Head of Warehouse Solutions to help bring Figure 01 into its first real world application. Bob, former SVP of Operations at Geodis, is a fulfillment operations veteran and brings over two decades of warehouse experience to the team.

Brett Adcock, Founder and CEO, Figure: "Figure's near-term goal is to deploy humanoids into the workforce, and we believe that the structured, repetitive, and often dangerous tasks in warehouses are a great potential first application. This investment round will support the testing of early warehouse solutions and gives us the ability to move and iterate quickly ahead of commercial operations. I look forward to growing this strategic partnership with Parkway and all participating investors to support the success of Figure."

www.figure.ai