Intel Backs Figure Robotics with $9M

Humanoid robotics company Figure has received $9 million in funding from Intel Capital, which it intends to use to accelerate the development and rollout of its Figure 1 humanoid robot.

The funds will also be used to further develop Figure’s AI data pipeline for autonomous operations and move the company toward commercialization.

Intel joins existing investors Parkway Venture Capital, Brett Adcock, Aliya Capital, Bold Capital Partners, Tamarack Global, FJ Labs and former KUKA Robotics CEO Till Reuter.

Figure unveiled the first look at its robot in March this year, with the company saying it is the “world’s first commercially viable” humanoid robot. Designed to meet ongoing global labor shortages, Figure 01 was developed to perform heavy-duty tasks around a manufacturing space, capable of carrying up to 44 pounds of payload, running for up to five hours on a single charge and autonomously navigating complex environments.

According to the company, Figure 01 took its first walking steps in May – less than one year from the Company’s inception, a milestone the company said was “a momentous achievement…and one of the quickest turnarounds in humanoid history.”

“Intel Capital is at the forefront of making big, bold frontier bets and we are excited to share the same vision of a better future,” said Brett Adcock, Figure CEO. “This investment along with the global resources and expertise of the Intel team will help accelerate the growth and success of Figure.”

“Intel Capital is constantly searching for companies that push the boundaries of innovation, and we believe that Figure has the potential to shift the way the world thinks about artificial intelligence,” said Mark Lydon, Intel Capital managing director. “Figure’s focus on enhancing the labor economy is an essential part of our future, and we look forward to being at the forefront to support humanoid development.”