TLDR: Figure, an AI robotics company, has successfully raised $70 million in Series A funding. This capital will accelerate the development and commercialization of its autonomous humanoid robot, Figure 01, with a primary focus on deploying these robots into the workforce to address labor shortages and undertake demanding tasks, particularly in warehouse environments.
Sunnyvale, California – Figure, an innovative AI robotics company dedicated to building general-purpose humanoid robots, announced in May 2023 the successful closure of a $70 million Series A funding round. This significant investment is earmarked to propel the development of its flagship autonomous humanoid robot, Figure 01, enhance its AI data pipeline for autonomous operations, and accelerate its path towards commercialization.
The funding round was spearheaded by Parkway Venture Capital, with notable participation from Figure’s founder and CEO, Brett Adcock, who personally invested $20 million. Other key investors included Aliya Capital, Bold Capital Partners, Tamarack Global, FJ labs, and KUKA Robotics CEO Till Reuter. While the company’s exact valuation was not disclosed, sources close to the firm indicated it surpassed $400 million.
Figure’s ambitious vision centers on integrating humanoids into the global workforce to mitigate labor shortages and manage tasks that are often repetitive, structured, or hazardous. Brett Adcock articulated the company’s immediate strategy, stating, “Figure’s near-term goal is to deploy humanoids into the workforce, and we believe that the structured, repetitive, and often dangerous tasks in warehouses are a great potential first application.” He added that this investment would be crucial for testing early warehouse solutions and enabling rapid iteration ahead of commercial deployment. Adcock further emphasized the broader potential, noting, “We believe general-purpose humanoid robots have far more potential than single-purpose robots. The deployment into the workforce can help address labor shortages and over time lead the way in eliminating the need for unsafe and undesirable jobs.”
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The company has been strategically expanding its team, making key hires across critical areas such as AI, Controls, Manipulation, Perception, and Commercial Operations. A significant addition is Bob Klunk, former SVP of Operations at Geodis, who joined as Head of Warehouse Solutions, bringing over two decades of fulfillment operations expertise to the team. Figure aims to differentiate itself from other robotics firms by focusing on general-purpose robots capable of learning and interacting with diverse environments, rather than specialized, single-task machines.
