AI Startup Figure Hits $39B Valuation in Major Funding Round
▼ Summary
– Figure raised its largest funding round yet, exceeding $1 billion and valuing the company at $39 billion.
– The funding was led by Parkway Venture Capital with participation from investors including Nvidia and Intel Capital.
– The funds will be used to scale the robot fleet, build training infrastructure, and launch advanced data collection efforts.
– Since its 2022 founding, Figure has raised nearly $2 billion in total funding.
– The company has sent cease-and-desist letters to unauthorized brokers selling its shares on secondary markets.
The robotics industry is witnessing a remarkable surge in investment, with humanoid robotics company Figure securing a massive funding round that underscores growing confidence in automation designed to work alongside people in industrial environments. This latest financial boost highlights the expanding role of advanced robotics in sectors like warehousing and manufacturing.
Based in San Jose, California, Figure revealed on Tuesday that it successfully closed a Series C funding round, achieving a staggering $39 billion valuation. The investment, which surpassed the billion-dollar mark, was spearheaded by Parkway Venture Capital. Major contributors included Brookfield Asset Management, Nvidia, and Intel Capital, among other prominent backers.
This substantial capital injection will support the expansion of Figure’s humanoid robot fleet, enhance the infrastructure required for rapid robot training, and initiate large-scale data collection initiatives. Since its establishment in 2022, the company has now raised close to $2 billion in total funding.
Earlier this year, Figure’s CEO Brett Adcock described the company as the most sought-after stock in the private market. At the same time, the firm has taken a firm stance on unauthorized share trading, issuing cease-and-desist letters to several secondary market brokers. In April, Figure confirmed to TechCrunch that such actions are taken when brokers lack proper authorization to handle its shares.
Requests for further comment from Figure have been made by TechCrunch.
(Source: TechCrunch)
