In a significant move for the burgeoning humanoid robotics industry, Apptronik has secured a $350 million Series A funding round, with tech giant Google among its backers. The Austin-based company, founded in 2016, is positioning itself as a formidable competitor in the race to develop AI-powered humanoid robots for industrial and commercial applications.
The funding round, co-led by B Capital and Capital Factory, marks a substantial leap from Apptronik’s previous $28 million in total funding. CEO Jeff Cardenas, speaking in an exclusive interview, emphasized the transformative potential of AI in robotics: “Robots, with the power of AI, are becoming much more versatile. We’re getting these robots out into the world in a pretty big way and scaling them up.”
Apptronik’s flagship project, a humanoid robot named Apollo, is designed for industrial work. The company aims to expand its robot development to address applications in manufacturing and healthcare. Cardenas envisions a future where these robots transition from industrial settings to domestic environments.
The influx of capital will enable Apptronik to scale its operations, accelerate innovation, and grow its team to meet the increasing demand for next-generation humanoid robots. The company has already established partnerships with industry leaders, including NASA and NVIDIA (NASDAQ: NVDA), and is collaborating with Google DeepMind on AI development for robotics.
Apptronik’s ambitious goals include making humanoid robots more affordable over time. “The target price is for these robots to be less than the price of a car,” Cardenas stated, noting that the company is already on its ninth iteration of human-like robots.
The humanoid robotics sector is heating up, with Tesla (NASDAQ: TSLA) also entering the fray through its Optimus robot project. Goldman Sachs projects that the global market for humanoid robots could reach $38 billion by 2035, underscoring the potential of this emerging technology.
Cardenas expressed confidence in Apptronik’s competitive position: “I think we’re right there in the race. This round represents our investors really backing us and thinking that we have a real shot at winning this race.” The involvement of Google, a subsidiary of Alphabet Inc. (NASDAQ: GOOGL, GOOG), in this funding round signals growing interest from major tech players in the humanoid robotics space. This investment could potentially accelerate the development and deployment of AI-powered humanoid robots across various industries.
As the competition intensifies, Apptronik’s substantial funding and strategic partnerships position it as a key player to watch in the evolving landscape of humanoid robotics. The coming years will likely see increased innovation and commercialization efforts as companies like Apptronik work to bring their vision of versatile, AI-driven humanoid robots to reality.
