Robotics startup Figure AI in talks for new funding at $39.5 billion valuation, source says

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Robotics startup Figure AI in talks for new funding at $39.5 billion valuation, source says - Channel News Asia

Quick Summary:

Robotics startup Figure AI is in talks to raise $1.5 billion in funding that would value the company at $39.5 billion, with Parkway Venture Capital expected to lead the Series C round, according to a person familiar with the matter.

In 2024, Tesla's chief executive, Elon Musk, said that the company's humanoid robots, called Optimus, could potentially be ready by the end of the following year.

Companies are betting on humanoid robots to meet potential labor shortages and perform repetitive tasks that could be dangerous or tedious such as logistics, warehousing and manufacturing.