Jeff Bezos, Nvidia Corp . (NASDAQ:) as well as several other leading technology companies are investing in Fig AI Inc., a startup focused on developing humanoid robots, according to a Bloomberg News report.
The company, which also benefits from OpenAI and Microsoft Corporation . (NASDAQ:), is in the process of raising approximately $675 million in a funding round, giving the company a preliminary valuation of approximately $2 billion.
Bezos, through Explore Investments LLC, is contributing $100 million, and Microsoft is adding $95 million. Nvidia and Amazon.com Inc (NASDAQ:). The partnership fund will invest $50 million each.
These investments reflect the technology sector’s growing interest in robots as a way to apply advanced artificial intelligence in practical settings. Figure AI is reported to be working on Figure 01, a robot designed to imitate human appearance and movements, with the goal of performing dangerous tasks and solving labor shortages.
The round also includes contributions from Intel Corp.’s venture arm. of $25 million, LG Innotek $8.5 million and Samsung Investment Group $5 million. Additional support is provided by venture capital firms Parkway Venture Capital and Align Ventures, which contributed $100 million and $90 million, respectively.
OpenAI, which previously considered acquiring Fig, is participating with a $5 million investment.
Interest from such major players stimulated further investment, bringing the total amount raised well beyond the original target of $500 million.
The latest funding round comes after the robot maker raised $70 million in a round led by Parkway Venture Capital last May.