OpenAI-backed 1X raises $100 mn to build next-gen humanoid robots

OpenAI-backed Norwegian AI robotics startup 1X Technologies AS raised $100 million to bring to market its second-generation android robot, NEO, that it says can help humans with everyday domestic tasks.

San Francisco:Norwegian robotics startup 1X Technologies, backed by OpenAI, has raised $100 million in its series B funding round led by EQT Ventures.

As part of the round, 1X also facilitated a significant secondary transaction in which existing investor Sandwater increased its stake with the third largest contribution to the round.

Other secondary participants included new investor Samsung NEXT, and existing investors Skagerak Capital and the Nistad group, the company said in a statement.

1X intends to use the new capital to bring to market its second generation android called ‘NEO’. Designed as a bipedal humanoid, NEO is tailored for everyday home assistance, The funds will also support 1X’s existing enterprise clients in logistics and guarding.

“We are thrilled that these leading investors are supporting 1X’s mission of safely deploying Androids with Smart Behaviour into new markets. Our next milestone will be scaling our data collection strategy for Embodied AI and offering NEO to consumers,” said Bernt Oivind Bornich, CEO of 1X.

The company successfully completed a Series A funding round led by OpenAI and Tiger Global in March last year. 1X has now raised over $125 million in less than 12 months.

“This funding will support their mission to produce safe and advanced androids at a commercial scale, aiming to meet global labour demands and build an abundant society,” said 1X.

“From Leonardo da Vinci, to today’s sci-fi, humans have dreamt of humanoid robots for more than 500 years.

“The impact of androids joining our human workforce, on our terms will be transformative (to say the least). We’re convinced 1X with their NEO androids will play a crucial role in the pioneering steps towards the first forays of our technological and human future,” said Ted Persson, Partner, EQT Ventures.

Read More