In context
In mid-2023, humanoid robotics was gaining momentum as a potential answer to labor shortages in logistics and manufacturing. Figure, an AI robotics startup, had just emerged from stealth and was positioning itself to commercialize a general-purpose humanoid robot, Figure 01, for real-world industrial tasks.
What was reported
Figure announced a $70 million Series A funding round led by Parkway Venture Capital, with participation from Brett Adcock, Aliya Capital, Bold Capital Partners, Tamarack Global, FJ Labs, and KUKA Robotics CEO Till Reuter. The funds are earmarked to accelerate development of Figure 01, build out its AI data pipeline for autonomous operations, and drive commercialization.
The company aims to deploy humanoids into the workforce, initially targeting structured, repetitive, and dangerous tasks in warehouses. Recent hires include Bob Klunk, former SVP of operations at Geodis, as head of warehouse solutions to lead the first real-world application. Figure also brought on Dr. Jerry Pratt as CTO, a veteran with over 20 years in humanoid robotics.
In the past 12 months, Figure completed the alpha prototype of Figure 01, scaled to 50 employees with over 100 years of combined humanoid and AI experience, and defined commercialization efforts for industries like manufacturing, shipping, logistics, warehousing, and retail.
“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.”
Why it mattered
This funding signaled growing investor confidence in humanoid robots for industrial automation, particularly in logistics. Figure’s focus on warehouse applications and its strategic hires indicated a shift from research to commercial viability, potentially influencing how manufacturers and integrators plan for automation in labor-constrained environments.
Source: Robotics & Automation News (roboticsandautomationnews.com) · Published 2023-05-27 · “Figure raises $70 million Series A to support commercialization of Figure 01 humanoid robot”