Amazon founder Jeff Bezos and Nvidia have joined OpenAI in supporting Figure AI, a startup, known for its development of human-like robots.
Figure is an AI Robotics company building the world's first commercially viable autonomous humanoid robot.
Backed by ChatGPT-maker OpenAI and Microsoft, the firm is securing approximately $675 million in funding through a round that values it at roughly $2 billion before the investment, reported Bloomberg on Friday, citing individuals familiar with the matter.
Last year, Figure, headquartered in Sunnyvale, California, and specialising in the development of humanoid robots capable of performing diverse tasks from warehouses to retail settings, secured $70 million from investors. Parkway Venture Capital led the company's inaugural external funding round.
According to the report, Bezos' Explore Investments LLC has pledged $100 million, Microsoft is contributing $95 million, and both Nvidia and an Amazon-affiliated fund are offering $50 million each.
The report listed Intel's venture capital arm, LG Innotek, Samsung's investment group, Parkway Venture Capital, and Align Ventures among the startup's backers.
It has also attracted investments from ARK Venture Fund, Aliya Capital Partners, and Tamarack.
OpenAI, which once contemplated acquiring Figure, is now investing $5 million into the start-up.
Investments in artificial intelligence startups have surged following the debut of OpenAI's viral chatbot ChatGPT in November 2022. Sensing opportunity, investors are wagering on these startups, betting that they may surpass larger competitors in the field.
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