Intel Capital, the investment arm of Intel Corporation, has recently announced a significant equity investment of $9 million in Figure, an AI Robotics company dedicated to building general-purpose humanoid robots. This strategic funding will not only strengthen Figure’s financial position but also expedite the development of its flagship autonomous humanoid robot, Figure 01.
Figure has garnered attention in the robotics industry for its impressive progress in creating a versatile humanoid robot. Just months after its establishment, Figure achieved a remarkable milestone in May when Figure 01 took its first steps, solidifying its position as one of the fastest advancements in humanoid robotics history.
Intel Capital’s investment serves as a noteworthy addition to Figure’s ongoing Series A funding round, joining a prestigious group of investors including Parkway Venture Capital, Brett Adcock, Aliya Capital, Bold Capital Partners, Tamarack Global, FJ Labs, and former KUKA Robotics CEO Till Reuter. Beyond the financial support, Figure will also benefit from Intel’s extensive global resources and expertise, contributing to its accelerated growth and overall success.
Brett Adcock, Founder and CEO of Figure, expressed enthusiasm about the collaboration, stating, “Intel Capital is known for making visionary investments, and we share a common goal of shaping a better future. This investment, coupled with Intel’s global resources and expertise, will drive Figure’s growth and success.”
Mark Lydon, Managing Director at Intel Capital, echoed this sentiment, expressing excitement about the investment. He emphasized, “Intel Capital constantly seeks out innovative companies, and we firmly believe that Figure has the potential to redefine artificial intelligence. Figure’s focus on enhancing the labor economy aligns with our vision for the future, and we are committed to supporting the development of humanoid robots.”
While Figure is not alone in its pursuit of general-purpose humanoid robots, with competitors such as Tesla, Apptronik, and Open AI-backed 1X tackling the same challenge, Figure distinguishes itself by adopting a deliberate approach. Initially, the company will concentrate on industrial warehouse applications, in contrast to Tesla’s broader strategy. To this end, Figure has already constructed a mock warehouse within its office to assess the robot’s performance in a real-world setting. With the backing of Intel’s resources through its venture arm, Figure is well-positioned to launch and scale its operations swiftly.
The development of general-purpose humanoid robots has long been regarded as the holy grail of robotics. These robots have the potential to revolutionize numerous industries by addressing labor shortages and undertaking tasks that are undesirable or unsafe for humans. With its rapid progress and robust support from investors like Intel Capital, Figure is poised to achieve this transformative goal.
Intel Capital’s $9 million equity investment in Figure represents a pivotal moment for both companies. It will accelerate Figure’s growth and success in developing general-purpose humanoid robots while propelling Intel to the forefront of this rapidly evolving field. The future appears promising as both organizations strive to enhance the labor economy through the power of artificial intelligence and robotics.
