AI robot startup Figure in talks for funding round led by Microsoft, OpenAI

US-based startup Figure AI, which specializes in humanoid robots, is reportedly in talks with Microsoft and OpenAI to lead a funding round to raise $500 million. According to a Bloomberg report, Microsoft is expected to invest about $95 million, while OpenAI will contribute about $5 million.

Bloomberg indicates that if the deal closes, Figure AI would be valued at about $1.9 billion, excluding financing. Depending on the total money raised, the startup’s value could see a significant increase post-investment, potentially elevating it to unicorn status for the second time. The report notes that the financing round has yet to close and the investment amounts could change, or the deal could even unravel.

Figure AI, internally referred to as Figure 01, is actively developing a humanoid robot designed to perform dangerous tasks not suitable for humans, addressing the labor shortage.

In a recent development, 1X Technologies, a Norwegian robotics startup also backed by OpenAI, raised $100 million in funding earlier this month. This could signal a strategic shift toward AI-powered robots from software-oriented AI systems for OpenAI, which made waves in the global technology landscape last year with its AI chatbot, ChatGPT.

First print: January 31, 2024 | 2:58 PM IST