Figure AI Raises $1 Billion+ in Series C - September 2024

Executive Summary

Figure AI is developing general-purpose humanoid robots designed to perform work in real-world commercial and residential environments, combining advanced AI with human-like physical capabilities.

Funding Amount: $1 Billion+

Valuation: $39 Billion

Round Type: Series C

Announced: September 2024

Headquarters: Sunnyvale, California

Category: Robotics - Humanoid Robots

About Figure AI

Figure AI was founded in 2022 and is headquartered in Sunnyvale, California.

Figure AI is developing general-purpose humanoid robots designed to perform work in real-world commercial and residential environments, combining advanced AI with human-like physical capabilities.

Funding Round Details

Investment Amount

Figure AI successfully raised $1 Billion+ in this Series C funding round.

Lead Investors & Participants

Parkway Venture Capital (Lead Investor): Leading venture capital firm focusing on transformative technology companies

Brookfield Asset Management (Major Investor): Global alternative asset manager with $925+ billion in assets under management

NVIDIA (Strategic Investor): AI computing leader providing both capital and technical partnership

Intel Capital (Strategic Investor): Intel's venture capital arm investing in emerging technologies

Macquarie Capital (Investor): Global financial services provider

Align Ventures (Investor): Venture capital firm supporting breakthrough technologies

T-Mobile Ventures (Strategic Investor): Telecommunications company's venture arm

Salesforce (Strategic Investor): Enterprise software giant investing in AI and automation

Qualcomm Ventures (Strategic Investor): Investment arm of semiconductor leader Qualcomm

LG Technology Ventures (Strategic Investor): LG Electronics' venture capital arm

Tamarack Global (Investor): Growth equity investment firm

Use of Funds

The $1 billion+ Series C will fund three key initiatives: (1) Scaling humanoid robots into homes and commercial operations by expanding production manufacturing at BotQ and real-world deployments, (2) Building next-generation GPU infrastructure to accelerate training and simulation for Helix's core models, and (3) Launching advanced data collection efforts including human video and multimodal sensory inputs.

Key Metrics & Achievements

• $39 billion valuation - among highest-valued private robotics companies
• Raised $1.675 billion total funding (Series B $675M + Series C $1B+)
• General-purpose humanoid robot capable of commercial work
• Partnership with NVIDIA for AI compute infrastructure
• Production facility BotQ for manufacturing at scale
• Helix AI platform for perception, reasoning, and control
• Founded in 2022 by Brett Adcock (former Archer Aviation founder)

Business Model

Figure AI develops and manufactures general-purpose humanoid robots designed to augment human labor in commercial settings like warehouses, manufacturing facilities, and eventually residential homes. The company's business model involves selling or leasing humanoid robots to enterprises while continuously improving AI capabilities through cloud-connected learning systems.

Market Opportunity & Competition

Figure competes in the emerging humanoid robotics market with Tesla's Optimus, Boston Dynamics' Atlas, Sanctuary AI, 1X Technologies, and Apptronik. Figure differentiates through its focus on near-term commercial deployment, significant funding allowing rapid scaling, and partnerships with major tech companies like NVIDIA and OpenAI for AI capabilities.

This fundraising report was announced on September 2024 and represents verified data from Crunchbase, Bloomberg, TechCrunch, The Robot Report, and official company announcements.