AI startup Figure raises $70 million in funding to build humanoid robots

Figure, a startup that wants to build general-purpose humanoid robots, has raised $70 million from investors led by Parkway Venture Capital in its first external round, the company said on Wednesday.

The new funding will be used to accelerate the development and manufacturing of the company’s first autonomous humanoid, which is expected to launch in the next few months. The valuation of the one-year-old company was not disclosed, but a source close to the firm put the value at over $400 million.

Brett Adcock, founder and chief executive at Figure, invested $20 million personally in the round. Other investors include Aliya Capital and Bold Ventures.