The Humanoid Robot Race Heats Up: Google Joins the Fray
Key Takeaways:
* Apptronik secures $350 million in Series A funding, led by B Capital and Capital Factory.
* Alphabet's Google participates in the round, signaling its interest in the humanoid robotics industry.
* The company aims to scale production and commercialize its humanoid robots, primarily targeting industrial and manufacturing applications.
* Amidst increasing competition from the likes of Tesla, the market for humanoid robots is projected to reach $7 trillion by 2050.
Apptronik, a leading player in the humanoid robotics space, has announced a significant funding milestone with a $350 million Series A round. The investment, led by B Capital and Capital Factory, includes participation from Alphabet's Google. This move underscores the growing interest of tech giants in the burgeoning field of humanoid robotics.
Apptronik's humanoid robot, "Apollo," utilizes NVIDIA GPUs and is primarily geared towards industrial and manufacturing use cases. The company has already forged commercial partnerships with GXO Logistics and Mercedes-Benz. In the future, Apptronik plans to expand into healthcare and eldercare settings.
The industry's trajectory has been boosted by Tesla CEO Elon Musk's enthusiastic promotion of the company's Optimus humanoid robot. Citi research predicts a massive growth in the number of humanoid robots, potentially reaching 648 million by 2050. The total addressable market is estimated to soar to $7 trillion in the same timeframe.
Parcel delivery, construction, food delivery, and home services are identified as the top growth areas for humanoid robots. Over 50 companies are actively developing these machines, including notable players such as Prosper Robotics' Alfie and Macco Robotics' Kime.
According to Rob Garlick, head of innovation, technology, and future of work at Citi Global Insights, the industry has evolved from science fiction to a burgeoning market poised for mass adoption.