US-Based Agility Robotics to Raise $400 Million, SoftBank to Participate
Agility Robotics, an Oregon-based robotics company, is raising $400 million at a pre-investment valuation of $1.75 billion, The Information reported. The venture arm of private equity firm WP Global Partners is leading the fundraising, in which SoftBank is also slated to participate. This investment reflects growing interest in robotics due to advancements in AI. It comes after other major investments by SoftBank this year, including leading a funding round for Skild AI, a robotics startup in Pittsburgh, and recent reports of investment of over $1 trillion to create AI industrial parks in the US. The parks would likely include factories, where AI-equipped robots operate autonomously to address labour shortages. This is in addition to SoftBank’s investment in The Stargate Project. Agility Robotics has previously raised about $320 million, including a financing round last fall led by venture firm DCVC at a valuation of around $1 billion. The company, led by former Microsoft executive Peggy Johnson, who joined as CEO last year, is developing its humanoid robot Digit. This warehouse robot stands 5-feet, 9-inches tall and is designed to walk and move like a human. Digit has been used in warehouses for companies such as SPANX and Amazon. Agility’s robots are currently priced at over $100,000 each, with about 100 operating units. The company aims to unveil a robot safe enough to work alongside people by early 2027, the report added. The company also recently announced new features in Digit, including expanded battery capabilities, autonomous docking onto charging stations, streamlined manufacturing of Digit, additional safety features and new limbs and end effectors. Agility Robotics is part of a broader trend, with companies like Google, Meta, and OpenAI also working on humanoid robot software or hardware. Recent improvements in AI have enabled robots to handle more complex tasks, such as recognising objects and mimicking human movements. These include developments from NVIDIA (GR00T N1), Google DeepMind (Gemini Robotics), and startup Figure AI (Helix).
The company recently added new features to its humanoid robot Digit.
The company recently added new features to its humanoid robot Digit.
["Agility Robotics", "Funding", "softbank funding"]
["Go", "Funding", "funding", "OpenAI", "AI", "R", "ML", "Git", "Agility Robotics", "Aim", "llm_models:Gemini", "softbank funding", "startup"]
["AI", "ML", "OpenAI", "Aim", "R", "Go", "Git", "startup", "funding", "llm_models:Gemini"]
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