OpenAI-backed robotics startup 1x Robotics has raised $100 million in a Series B funding round.
Norwegian startup 1X Technologies has raised $100 million in Series B funding for its AI-powered humanoid robots. The investment was led by EQT Ventures, with participation from Samsung NEXT, Nistad Group, Sandwater, Skagerak Capital and other prominent investors. The company plans to use the funds to support its enterprise customers and launch its new bipedal android, Neo.
1x Robotics has been working on robots for the consumer market for 10 years
Founded by Bernt Øivind Børnich, 1X Technologies started ten years ago under the name Halodi Robotics to build general-purpose robots for labor-intensive tasks. In 2022, 1X partnered with OpenAI and began integrating AI models into its machines to enable robots to understand natural language and learn on the job.
In addition to the already available Eve, a wheeled robot, 1X Technologies is also developing Neo, a bipedal humanoid robot for the consumer market. Neo is designed to assist in everyday household tasks, such as cleaning, organizing, and shopping. Investors see Neo as part of a new wave of androids that will hit the market in the next few years. Whether Neo and other models like Tesla's Optimus Bot can deliver on that promise, or whether they will face similar problems as self-driving cars, remains to be seen.
With the new round of funding, which brings 1X's total capital raised to nearly $137 million, the company plans to support its existing enterprise customers, bring Neo to the consumer market, and expand its data collection and training strategy for embodied AI.
