Humanoid robot company launched funding round

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Figure AI Inc.a company dedicated to the development of humanoid robots, is currently in talks to raise up to $500 million in a funding round, which would be led by Microsoft Corp. and OpenAI.

Funding round for the development of humanoid robots

The startup is seeking additional investors to complete the deal and is discussing the possibility of Microsoft making an investment of close to $95 million, while OpenAI would contribute $5 million. It should be noted that these conversations are held in private and the information provided is based on anonymous sources.

The potential deal could give Figure a pre-investment valuation of $1.9 billion, according to an informed source, which represents a measure of value before the injection of funds raised. Figure’s post-investment valuation could increase significantly depending on the total amount raised, possibly leading the startup to achieve unicorn status for a second time.

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It is important to note that the financing round is still ongoing and both the investment amounts and the deals could undergo changes or even fall apart. So far, Microsoft, OpenAI and Figure have chosen not to comment on the matter. Figure is dedicated to the development of the humanoid robot Figure 01designed to mimic human appearance and movements. The company has expressed its vision of its machine being able to perform dangerous tasks not suitable for humans, thus helping to alleviate labor shortages.

Last May, the humanoid Figure successfully raised funds in a $70 million funding round led by Parkway Venture Capital. During that period, CEO Brett Adcock expressed his expectation to be a pioneer in bringing to market an android with real, practical capabilities to perform business tasks.

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Source: techxplore.com

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