Figure Humanoid Robot Raises $1 Billion in Series C Funding

San Jose-based Figure, a leader in humanoid robotics, announced it has secured over $1 billion in its latest funding round, propelling its valuation to $39 billion. The Series C round was led by Parkway Venture Capital, with notable contributions from Brookfield Asset Management, Nvidia, and Intel Capital.

Investment Details and Strategic Goals

The newly acquired funds will be allocated toward three primary objectives:

• Scaling production of Figure’s humanoid robots for deployment in warehouses and factories.
• Building advanced infrastructure to expedite AI and robotics training.
• Expanding data collection initiatives to enhance machine learning capabilities.

Since its founding in 2022, Figure has raised nearly $2 billion in total funding, reflecting strong investor confidence in its vision of integrating robots into human workspaces.

Market Position and Challenges

CEO Brett Adcock has touted Figure as the "most sought-after" private market stock. However, the company has faced challenges with unauthorized secondary market trading. Earlier this year, Figure issued cease-and-desist letters to brokers attempting to sell its shares without approval.

Key Points:

• Valuation surge: $39 billion post-Series C.
• Lead investor: Parkway Venture Capital.
• Use of funds: Scaling robots, training infrastructure, and data collection.
• Total funding: Nearly $2 billion since 2022.
• Regulatory actions: Crackdown on unauthorized stock sales.