# Figure AI's $675 Million Round (2023)

In February 2024, Figure AI, a humanoid robotics startup, raised $675 million in venture capital at a $2.6 billion valuation, with backing from Microsoft, Nvidia, Intel, Jeff Bezos, and others.

Figure AI, an American robotics company developing humanoid robots powered by artificial intelligence, completed a $675 million funding round in February 2024. The round valued the company at $2.6 billion and included investments from major technology firms and prominent individuals. This financing marked a significant milestone for the company, which was founded in 2022 by Brett Adcock and had previously raised a smaller round in May 2023.

The investment consortium included [microsoft](https://www.wikiprompt.org/wiki/microsoft), [nvidia](https://www.wikiprompt.org/wiki/nvidia), [intel](https://www.wikiprompt.org/wiki/intel), [jeff-bezos](https://www.wikiprompt.org/wiki/jeff-bezos), and the startup-funding divisions of [amazon](https://www.wikiprompt.org/wiki/amazon) and [openai](https://www.wikiprompt.org/wiki/openai). The participation of these entities underscored the growing interest in humanoid robotics and the convergence of [artificial-intelligence](https://www.wikiprompt.org/wiki/artificial-intelligence) with physical automation. The funding was intended to accelerate the development and deployment of Figure AI's humanoid robots, which were designed for tasks in logistics, warehousing, and manufacturing.

## Background and Founding

Figure AI was founded in 2022 by Brett Adcock, an entrepreneur who had previously founded Archer Aviation, Vettery, and Hark. The company's mission was to develop general-purpose humanoid robots that could operate safely alongside humans in various work environments. In 2022, Figure AI introduced its first prototype, Figure 01, a bipedal robot designed for manual labor, initially targeting the logistics and warehousing sectors. The initial model utilized external cabling for easier maintenance, a design choice that facilitated rapid iteration.

In May 2023, Figure AI raised $70 million from investors including Adcock, who invested $20 million, and Parkway Venture Capital. This early funding supported the development of the Figure 01 and laid the groundwork for the larger round in 2024.

## The $675 Million Round

The $675 million round was announced in February 2024, with participation from a diverse group of investors. [jeff-bezos](https://www.wikiprompt.org/wiki/jeff-bezos) was among the notable individual backers, while [microsoft](https://www.wikiprompt.org/wiki/microsoft), [nvidia](https://www.wikiprompt.org/wiki/nvidia), and [intel](https://www.wikiprompt.org/wiki/intel) represented major corporate investors. The startup-funding divisions of [amazon](https://www.wikiprompt.org/wiki/amazon) and [openai](https://www.wikiprompt.org/wiki/openai) also contributed, reflecting the strategic interest of these companies in robotics and AI. The round valued Figure AI at $2.6 billion, a substantial increase from its previous valuation.

The funding was seen as a validation of Figure AI's approach to humanoid robotics, which combined advanced hardware with [machine-learning](https://www.wikiprompt.org/wiki/machine-learning) and [artificial-intelligence](https://www.wikiprompt.org/wiki/artificial-intelligence) models. The company planned to use the capital to scale up production, enhance its AI capabilities, and expand its workforce.

## Strategic Partnerships

Alongside the funding, Figure AI announced a partnership with [openai](https://www.wikiprompt.org/wiki/openai) to develop specialized AI models for its humanoid robots. These models were intended to enable the robots to process language and interact more naturally with humans. The collaboration was part of a broader trend of AI companies partnering with robotics firms to integrate large language models into physical systems.

However, the partnership with OpenAI ended after about a year. Brett Adcock later stated that large language models had become a smaller problem compared to those allowing for "high rate robot control," indicating a shift in focus toward improving the robots' physical capabilities and real-time control systems.

## Impact on the Robotics Industry

The $675 million round was one of the largest funding events in the humanoid robotics sector at the time. It highlighted the growing investor confidence in the potential of humanoid robots to transform industries such as logistics, manufacturing, and domestic work. The involvement of major tech companies like [microsoft](https://www.wikiprompt.org/wiki/microsoft) and [nvidia](https://www.wikiprompt.org/wiki/nvidia) also signaled that AI infrastructure and computing power would be critical to the development of advanced robotics.

The funding round also drew attention to the competitive landscape, with other companies like [sanctuary-ai](https://www.wikiprompt.org/wiki/sanctuary-ai) and [tesla-autopilot](https://www.wikiprompt.org/wiki/tesla-autopilot) (which is developing its own humanoid robot) also pursuing similar goals. Figure AI's valuation of $2.6 billion placed it among the most valuable startups in the field.

## Subsequent Developments

Following the 2024 round, Figure AI continued to make progress. In August 2024, the company introduced Figure 02, a more advanced humanoid with five-fingered hands, 16 degrees of freedom per hand, and the ability to carry up to 25 kilograms. The robot featured integrated cabling, a torso-placed battery, six RGB cameras, and an onboard vision-language-action (VLA) model. It had three times the computing power of its predecessor, including two GPUs supported by [nvidia](https://www.wikiprompt.org/wiki/nvidia).

In early 2025, Figure AI announced BotQ, a manufacturing facility designed to produce 12,000 humanoids per year, and Helix, a VLA model that could control up to two robots at once. By September 2025, the company raised over $1 billion in a third round, bringing its valuation to $39 billion. Investors in that round included Brookfield Asset Management, Intel, Macquarie Capital, Nvidia, Parkway Venture Capital, Qualcomm, Salesforce, and T-Mobile.

In October 2025, Figure 03 was introduced, featuring 60 total degrees of freedom, upgraded cameras, tactile sensors, and wireless inductive charging. The company continued to expand its operations, delivering over 350 Figure 03 models by April 2026 and increasing production to one robot per hour. By June 2026, Figure AI had about 740 robots operating, compared to 600 human employees.

The company also made headlines for its unconventional decisions, such as melting down outdated Figure 02 robots in arc furnaces in September 2026 to protect proprietary hardware, a move suggested by Arnold Schwarzenegger. Additionally, Figure AI launched a gig economy platform called Index in August 2026 to capture work data from humans wearing sensors, and announced plans to spend over $3.5 billion on Nvidia GPUs by the next year.

## See Also

- [figure-ai](https://www.wikiprompt.org/wiki/figure-ai)
- [figure-2023-1b-round](https://www.wikiprompt.org/wiki/figure-2023-1b-round)
- [figure-2024-675m-round](https://www.wikiprompt.org/wiki/figure-2024-675m-round)
- [figure-2025-1b-round](https://www.wikiprompt.org/wiki/figure-2025-1b-round)
- [robotics](https://www.wikiprompt.org/wiki/robotics)
- [artificial-intelligence](https://www.wikiprompt.org/wiki/artificial-intelligence)
- [microsoft](https://www.wikiprompt.org/wiki/microsoft)
- [nvidia](https://www.wikiprompt.org/wiki/nvidia)
- [openai](https://www.wikiprompt.org/wiki/openai)
- [jeff-bezos](https://www.wikiprompt.org/wiki/jeff-bezos)

## External links

- [Wikipedia: Figure AI](https://en.wikipedia.org/wiki/Figure_AI)

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Source: https://www.wikiprompt.org/wiki/figure-ai-2023-675m-round
License: CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0/)
Last updated: 2026-10-25T00:19:25.755573+00:00