The hottest track right now! Established for only 8 months, without a product, this humanoid robot company seeks a valuation of $2 billion
Since last year, investors have been flocking to AI-driven robotics startups, which mainly use generative AI technology to enhance robots' ability to learn complex behaviors. Industry insiders say that starting a new LLM company is becoming increasingly difficult, and people are shifting their focus to robotics technology
Author: Li Xiaoyin
Source: Hard AI
AI remains a hot topic in the investment circle, with humanoid robot companies continuing to attract funding.
On Monday, according to sources cited by the tech media The Information, the robot startup company Physical Intelligence (PI) is seeking around $300 million in funding at a valuation of about $200 million.
The report also revealed that the San Francisco-based company has not yet launched its first product but has received several offers.
Public information shows that PI was registered in Delaware, USA in February this year. It was co-founded by former Google DeepMind researcher Karol Hausman, former Google AI researcher Chelsea Finn, computer science professor Sergey Levine, and venture capitalist Lachy Groom. The company is dedicated to helping robots perform precise operational tasks, such as folding clothes.
In March this year, just one month after its establishment, PI raised $70 million at a valuation of around $400 million. Investors include Sequoia Capital, OpenAI, Khosla Ventures, Lux Capital, among others.
Venture capital institutions are rushing into the robot track
Since last year, investors have been flocking to AI-driven robot startups, which mainly use generative AI technology to enhance robots' ability to learn complex behaviors.
In February this year, Figure, responsible for developing humanoid robots, raised $675 million, reaching a valuation of $2.6 billion; in May, the household robot development company The Bot Co raised $150 million; in July, PI's competitor Skild also raised $300 million, with a valuation of $1.5 billion.
Currently, many robot startups have begun to choose to cooperate with large companies, mainly through selling patents.
According to an insider, in August this year, Amazon hired the founder of industrial robot company Covariant and a quarter of the team members, acquiring the model authorization of this startup for at least $500 million.
Evan Beard, CEO of the robotic arm manufacturing company Standard Bots, also stated that they have purchased patents, trademarks, customer lists, and software for robot control developed by the startup Ready.
Beard said:
"Starting a new LLM (Large Language Model) company is becoming increasingly difficult. Recognizing this, people are shifting their focus to robot technology... making quick bets and trying to pick winners quickly."