Apptronik, a spinout from the University of Texas renowned for creating humanoid robots, has recently announced a significant funding achievement. The company has successfully reopened its Series A funding round, raising a total of $935 million.
While the company did not officially disclose its valuation, sources indicate that it now stands at approximately $5.3 billion. This marks a substantial increase from its initial Series A valuation of around $1.75 billion, as reported by PitchBook.
Initially, Apptronik had raised $350 million in its Series A last year, but due to overwhelming demand, it expanded the round to $415 million. The latest funding includes an additional $520 million from existing investors such as Google, Mercedes-Benz, and B Capital, along with new backers.
Despite the significant funding, Apptronik emphasizes that it remains in the early stages of development and was not actively seeking this investment. Instead, the company was responding to incoming interest from investors.
Part of the excitement surrounding Apptronik arises from its collaboration with industry leaders like Google DeepMind and Mercedes-Benz. The company is focused on developing robots capable of embodied AI, allowing them to perceive their surroundings and perform tasks such as unloading trailers and managing warehouse inventories.
Apptronik's journey in humanoid robotics began in 2013, with a team from the Human Centered Robotics Lab at the University of Texas participating in the NASA-DARPA Robotics Challenge. The company has continued to evolve its technology, culminating in the development of its humanoid robot, Apollo.
