Apptronik Secures $350M for Scaling AI-Powered Humanoid Robot Production
Austin-based Apptronik has announced a significant funding round of $350 million, led by B Capital and Capital Factory, with participation from Alphabet's Google. The investment will accelerate the company's production of Apollo, a cutting-edge humanoid robot designed to perform tasks in warehouses and manufacturing facilities.
Apollo signifies a significant milestone in the development of human-like robots, alongside similar efforts from rivals like Tesla and Nvidia-backed Figure AI. Apptronik joins the race as artificial intelligence advancements continue to revolutionize robotics and automation.
"This marks a turning point for the industry," said Apptronik CEO and co-founder Jeff Cardenas. "We envision robotics and AI as akin to large language models in 2023, predicting a surge in robotics activity by 2025."
With plans for expanded Apollo deployment this year, Apptronik aims to broaden the robot's capabilities into industries such as elder care and healthcare. Partnerships with Google DeepMind Robotics and commercial agreements with Mercedes-Benz and GXO Logistics bolster Apptronik's position in the humanoid robotics market.