(Reuters) – Robotics startup Figure AI is in talks with investors to raise $1.5 billion in funding that would value the company at $39.5 billion, Bloomberg News reported on Friday, citing people familiar with the matter.
Align Ventures and Parkway Venture Capital are expected to lead the deal, the report said, adding that the terms of the transaction are not yet finalized and could change.
Align Ventures and Figure AI did not immediately respond to requests for comment on the report.
Last year, Figure AI said it raised $675 million in a funding round, with investors such as Nvidia, Microsoft and Amazon.com founder Jeff Bezos, valuing the company at $2.6 billion.
Major tech companies, including Nvidia, Meta Platforms and Tesla, alongside various startups, are diving into the competitive field of humanoid robotics, driven by advanced AI models that are accelerating innovation in robotics and automation.
Meta Platforms is establishing a new division within its Reality Labs unit to develop AI-powered humanoid robots that can assist with physical tasks, according to an internal company memo viewed by Reuters on Friday.
In 2024, Tesla’s chief executive Elon Musk said that the company’s humanoid robots, called Optimus, could potentially be ready by the end of the following year.
Humanoid robots have sparked renewed investor interest as AI-powered software expands the possibilities for human-robot interaction and collaboration.
(Reporting by Priyanka.G in Bengaluru; Editing by Mohammed Safi Shamsi)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.