New Delhi: Prominent figures in the technology industry including Jeff Bezos of Amazon.com and Nvidia, are making investments in the startup Figure AI. This startup specializes in the development of human-like robots, as per Bloomberg News report.
According to the report, Figure AI, supported by OpenAI and Microsoft along with other investors, is in the process of raising approximately $675 million in a funding round. This funding round values the company at around $2 billion before the investment. (Also Read: Google Announces Shutdown Of Google Pay In US; Find Out The Reason Here)
Bezos had committed $100 million through his company Explore Investments LLC, while Microsoft is contributing $95 million. Nvidia and an Amazon-related fund are each offering $50 million in investment, as per report. (Also Read: Former Google Employee Makes Shocking Allegations, Says ‘Did Not Get Promotion Due To Skin Colour’)
Investments in startups focused on artificial intelligence have surged following the release of OpenAI’s widely popular chatbot ChatGPT in November 2022. Investors see potential in these startups, betting that they could surpass larger competitors in the field.
According to the report, OpenAI, which had previously considered acquiring Figure is now investing $5 million in the startup. Backers include Intel’s venture capital arm, LG Innotek, Samsung’s investment group, as well as venture firms Parkway Venture Capital and Align Ventures.
Other investors in the startup include ARK Venture Fund, Aliya Capital Partners, and Tamarack, as mentioned in the report. When approached for comment, Amazon, Nvidia, Microsoft, and Intel chose not to respond, while Figure AI and other mentioned entities did not immediately reply to requests for comment from Reuters.
Figure, a company located in Sunnyvale, California, raised $70 million from investors in its first external funding round. This company specializes in creating humanoid robots with broad capabilities, suitable for diverse environments such as warehouses and retail settings. The investment was spearheaded by Parkway Venture Capital. (With Input From Reuters )