Home / Technology / AI Robot Startup Seeks $1B+ at $20B Valuation
AI Robot Startup Seeks $1B+ at $20B Valuation
28 Oct
Summary
- Startup is in talks to raise at least $1 billion.
- AI software powers robots and works across hardware.
- Founded in 2024 by former DeepMind researchers.
Physical Intelligence, a startup specializing in AI software for robots, is reportedly in discussions to raise over $1 billion. These negotiations aim for a valuation of approximately $20 billion. Existing investors, including Avenir and Lux Capital, are in talks to lead this significant funding round.
The company, established in 2024 by former researchers from Google DeepMind along with academics from Stanford and UC Berkeley, develops AI that can control diverse robot motions across different hardware. Physical Intelligence currently has no reported revenue.
Investor interest has surged recently, partly due to the startup's decision this month to allow external developers to utilize and customize its latest robotics models through a beta program. This move aims to facilitate broader applications in fields such as construction, surgery, and warehouse automation.
Competitors in this rapidly advancing field include OpenAI and Elon Musk's Tesla. Another company, Skild AI, which also focuses on robot learning, achieved a $14 billion valuation in January and reported over $100 million in annual recurring revenue in September.
