HomeRoboticsAndroid maker 1X raises $100 million in Sequence B funding spherical –...

Android maker 1X raises $100 million in Sequence B funding spherical – Robotics & Automation Information

1X, an AI and robotics firm producing androids to “meet the world’s labor demand”, has raised $100 million in Sequence B funding with participation from EQT Ventures and different notable international buyers.

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The corporate intends to make the most of the brand new capital to carry to market its second era android NEO. Designed as a bipedal humanoid, NEO is tailor-made for on a regular basis dwelling help, providing versatile assist for a variety of home duties within the shopper market.

The funds will even assist 1X’s present enterprise purchasers in logistics and guarding. With 1X providing an android secure to work amongst individuals and a brand new method to embodied studying for information assortment, the corporate stands on the forefront of AI robotics.

Bernt Øivind Børnich, CEO of 1X, says: “We’re thrilled that these main buyers are supporting 1X’s mission of safely deploying Androids with Good Habits into new markets.

“Our subsequent milestone will probably be scaling our information assortment technique for Embodied AI and providing NEO to shoppers.”

After efficiently finishing a Sequence A funding spherical led by OpenAI and Tiger World in March 2023, 1X has now raised over $125 million in lower than 12 months.

This funding will assist their mission to provide secure and superior androids at a business scale, aiming to satisfy international labor calls for and construct an considerable society.

As a part of the spherical, 1X additionally facilitated a big secondary transaction through which present investor Sandwater elevated its stake with the third largest contribution to the spherical.

Different secondary contributors included new investor Samsung NEXT, and present buyers Skagerak Capital and the Nistad group.

Ted Persson, accomplice, EQT Ventures, says: “From Leonardo da Vinci, to at this time’s sci-fi, people have dreamt of humanoid robots for greater than 500 years.

“It’s a privilege to witness the enabling applied sciences kind in entrance of our eyes, in real-time. The affect of androids becoming a member of our human workforce, on our phrases will probably be transformative – to say the least.

“We’re satisfied 1X with their NEO androids will play a vital position within the pioneering steps in direction of the primary forays of our technological and human future.”

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