Physical Intelligence, a start-up focusing on robotic technology, has successfully raised $400 million in funding led by Jeff Bezos, propelling its valuation to $2 billion as it strives to create universal AI systems for robots.
A promising development emerges from the nascent artificial intelligence sector as Physical Intelligence, a recently founded start-up focused on robotic technology, has successfully secured a substantial funding round. Announced on Monday, the company revealed it acquired a staggering $400 million in financing from an array of prestigious investors. This funding milestone marks a significant leap in the company’s endeavour to develop universal artificial intelligence systems for robots.
Spearheading this round of investment is Jeff Bezos, the executive chairman of Amazon, alongside prominent venture capital firms Thrive Capital and Lux Capital. This strong consortium of investors is bolstered further by contributions from OpenAI, Redpoint Ventures, and Bond, underscoring the heightened interest and belief in the potential of Physical Intelligence.
The new funding round has elevated the company’s valuation to approximately $2 billion, excluding the recent investments. This marks a dramatic increase from the $70 million initially raised in seed financing within the company’s founding year. It highlights both the rapid rise and the compelling vision of the start-up within the tech industry.
Physical Intelligence is set apart by its innovative goal to create a universal foundational software for robots. This approach deviates from the traditional method of developing custom software tailored to specific machines and their respective tasks. By focusing on a more holistic software framework, the company aims to facilitate seamless adaptability and integration across a diverse array of robotic platforms.
The influx of funds is expected to accelerate research and development efforts at Physical Intelligence, enabling the team to push forward their pioneering vision. Although specific details regarding product timelines or particular projects stemming from this round of financing have not been disclosed, the substantial backing emphasises confidence in the start-up’s potential to redefine robotic interaction through AI.
As the AI and robotics fields continue to evolve dynamically, Physical Intelligence’s venture into creating a versatile AI ‘brain’ for robots could pave the way for significant strides in technology and application. With influential stakeholders rallying behind this initiative, the company stands at the forefront of a burgeoning segment within the tech landscape.
Source: Noah Wire Services
Automate Your Business
You are one step away from removing your bottlenecks, automating your business and getting your time back. It’s like hiring 3 staff members – minus the headache, minus the pensions, minus the sick pay!
Schedule a free automation consultation
Automate Your Business
You are one step away from removing your bottlenecks, automating your business and getting your time back. It’s like hiring 3 staff members – minus the headache, minus the pensions, minus the sick pay!
Schedule a free automation consultation
Automate Your Business
You are one step away from removing your bottlenecks, automating your business and getting your time back. It’s like hiring 3 staff members – minus the headache, minus the pensions, minus the sick pay!
