Intel Funds Figure’s $9M Humanoid Robot


Intel announced a $9 million investment in Figure, a Bay Area-based robotics company. Figure is working on developing a multiple humanoid robot, a long-held goal in robotics.

Figures: A developing humanoid robot

Figure recently announced that its humanoid robot has taken its first steps, a milestone it reached just days before the company’s one-year anniversary. Figure has made a lot of headway in a short time, thanks in no small part to founder and CEO Brett Adcock’s $100 million initial start-up.

Running any robotics company is an extremely expensive undertaking, especially if you are building hardware and software for a multiple humanoid robot. Figure then started looking for external funding to make this dream come true. In May, it announced a sizable $70 million Series A funding led by Parkway Venture Capital.

Intel investment and potential strategic partnership

Today, the company announced on TechCrunch that it is adding another $9 million equity investment to its treasury, courtesy of Intel Capital, which could soon prove to be a strategic partnership.

For some time now, Figure has been showcasing its progress to interested parties, and Intel clearly likes what it has seen in the Figure 01 robot.

“Intel Capital is constantly looking for companies that push the boundaries of innovation, and we believe Figure has the potential to change the way the world thinks about artificial intelligence,” said Mark Lydon, general manager of Intel Capital. “Figure’s focus on improving the economy of work is an essential part of our future, and we look forward to being at the forefront of supporting humanoid development.”

Focus on industrial warehouse applications

Figure isn’t the only company currently working on a general humanoid. Tesla, Apptronik, and 1X, powered by Open AI, are all trying to tackle this immensely difficult problem. Unlike Tesla’s plan to go all-in at launch, Figure’s approach is deliberate, focusing primarily on industrial stock applications to get started.

Access to Intel through its venture arm offers many potential assets for a young company like Figure, especially one that is looking to get up and running and scale quickly.

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