Apptronik lands $520M for Apollo humanoid robots

Apptronik, a startup specializing in AI-powered humanoid robots, has successfully closed a new funding round, raising approximately $520 million. This latest investment values the company at over $5.5 billion, marking a significant increase from its previous valuation. The round saw participation from major existing investors, including Google and Mercedes-Benz Group AG, as well as new strategic partners such as AT&T Ventures and the Qatar Investment Authority.

This substantial funding injection is set to accelerate the market launch of Apptronik's flagship humanoid robot, Apollo. The capital will also support the expansion of ongoing pilot programs and facilitate the initial scaling and production of the Apollo system. Apptronik's strategy is to develop general-purpose robots capable of operating in diverse environments, eventually targeting sectors like healthcare, retail, and home assistance.

Founded in 2016 and with roots in NASA's Valkyrie project, Apptronik is strategically focused on advancing robotics beyond single-purpose applications. The company's Apollo robot is designed as a versatile platform, capable of utilizing legs or wheels for mobility and can be deployed in various configurations. The CEO envisions Apollo as the "hero" in their story, with plans for future robot models.

Apptronik's phased market expansion plan begins with manufacturing and logistics, progressing to broader commercial settings, and ultimately aiming for consumer-focused robots for home use within the next decade. The company views the current stage of humanoid robot development as analogous to the early 1980s for personal computers, indicating significant future growth potential.