This week, Figure a robotics firm based in the Bay Area, announced that its humanoid robot took its first steps – just a few days before the company’s first anniversary. This impressive progress was largely due to Founder and CEO Brett Adcock’s $100 million bootstrapping got Intel investment.
Adcock of Figure has confirmed that they are seeking additional funding to build their dream of a multipurpose humanoid. In May, Figure successfully closed a $70 million Series A round led by Parkway Venture Capital. Running a robotics company is a costly venture, especially one that is building hardware and software for a humanoid.
Intel Capital announced today that it is investing an additional $9 million in Figure, which could potentially lead to a strategic partnership. Figure has been demonstrating its progress to interested parties, and Intel evidently found the Figure 01 ‘bot impressive.
Mark Lydon, managing director of Intel Capital, states that they are continuously seeking out companies that explore the frontiers of innovation and are confident that Figure has the power to revolutionize the way the world views artificial intelligence.
He further comments on Figure’s emphasis on improving the labor economy, and expresses his enthusiasm to be at the vanguard of humanoid development.
Figure is not the only firm striving for a general-purpose humanoid. Tesla, Apptronik and Open AI-backed 1X have all taken on this hard challenge. Unlike Tesla’s plan to provide everything for everyone at launch, Figure follows a meticulous strategy, mainly concentrating on industrial warehouse applications at the beginning. When I visited their HQ in May, they had recently completed a simulated warehouse in the middle of the office.
The robot was not yet prepared for testing when the time came. Intel Capital’s access to resources can provide a great deal of potential to Figure, a young company looking to get started, operate, and expand rapidly. Adcock expressed enthusiasm in a statement, stating “Intel Capital is taking bold risks towards a brighter future, and we are proud to share that same vision.”
See More: Updates on the Artificial Intelligence
The Intel team’s global resources and expertise will help Figure accelerate their growth and success by investing in them.
