Robotics startup backed by Microsoft and OpenAI secures funding from Bezos and Nvidia

© Reuters. Robotics startup backed by Microsoft and OpenAI secures funding from Bezos and Nvidia – Report

Jeff Bezos, NVIDIA Corporation . (NASDAQ:) and several other major technology companies are investing in Figure AI Inc., a startup focused on developing human-like robots, Bloomberg News reports.

The company, which is also supported by OpenAI, Microsoft Corporation . (NASDAQ:) is in the process of raising approximately $675 million in a funding round and has a pre-valuation of approximately $2 billion.

Bezos, through Explore Investments LLC, contributed $100 million, and Microsoft added $95 million. Nvidia and Amazon.com Inc (NASDAQ:). The affiliated funds are investing $50 million each.

This investment reflects the technology sector’s growing interest in robotics as a way to apply advanced AI to real-world environments. Figure AI is reportedly developing Figure 01, a robot designed to mimic human appearance and movements to perform hazardous tasks and address labor shortages.

This round also sees the following contributions: Intel Corporation (NASDAQ:).’s venture arm with $25 million, LG Innotek with $8.5 million, and Samsung Investment Group with $5 million. Additional support comes from venture firms Parkway Venture Capital and Align Ventures, contributing $100 million and $90 million, respectively.

OpenAI, which previously considered acquiring Figure, is also participating in an investment of $5 million.

Interest from these major companies spurred additional investment, bringing the total to well in excess of Figure’s initial target of $500 million.

The latest funding round comes after the robot maker secured $70 million in a round led by Parkway Venture Capital in May.