Figure is reportedly in talks with investors to raise $1.5 billion for its work in developing humanoid robots.
The startup aims for a valuation of $39.5 billion, though the talks are ongoing and the terms could change, Bloomberg reported Friday (Feb. 14), citing unnamed sources.
The company made a breakthrough in reasoning abilities and now believes that its products could be ready for use in homes in a few years, according to the report.
Figure did not immediately reply to PYMNTS’ request for comment.
The company was valued at $2.6 billion when it raised $675 million in a Series B funding round in February 2024.
Its investors at that time included Microsoft, OpenAI Startup Fund, Nvidia, Jeff Bezos (through Bezos Expeditions), Parkway Venture Capital, Intel Capital, Align Ventures and ARK Invest.
“Our vision at Figure is to bring humanoid robots into commercial operations as soon as possible,” Figure Founder and CEO Brett Adcock said in a February 2024 press release. “This investment, combined with our partnership with OpenAI and Microsoft, ensures that we are well-prepared to bring embodied AI into the world to make a transformative impact on humanity.”
In August, Figure unveiled its second-generation humanoid robot, Figure 02, saying the product’s dexterity and advanced AI enable it to perform “a wide range of tasks across commercial applications and, in the near future, the home.”
On Feb. 4, Adcock said in a post on X that he decided that Figure would leave its collaboration agreement with OpenAI after making a “major breakthrough on fully end-to-end robot AI” that Figure built entirely in-house.
Today, I made the decision to leave our Collaboration Agreement with OpenAI
Figure made a major breakthrough on fully end-to-end robot AI, built entirely in-house
We’re excited to show you in the next 30 days something no one has ever seen on a humanoid
— Brett Adcock (@adcock_brett) February 4, 2025
“We’re excited to show you in the next 30 days something no one has ever seen on a humanoid,” he said in the post.
In a Wednesday (Feb. 12) post on X, Adcock said that Figure was the ninth most in-demand company in the secondary market in January.
It’s interesting to see that last month, Figure was the 9th most in-demand company in the secondary market
Investor demand for Figure is off the charts, I’ve never had more inbound in my life pic.twitter.com/ZqjgtU6Ltw
— Brett Adcock (@adcock_brett) February 12, 2025
“Investor demand for Figure is off the charts, I’ve never had more inbound in my life,” he said in the post.
The report of a new funding round by Figure came on the same day that it was reported that Meta is forming a new team that will be devoted to developing AI-powered humanoid robots.
There have also been reported that Apple and OpenAI are exploring projects involving robots.
