The robotics sector continues to captivate investors, highlighted by Physical Intelligence’s recent $400 million funding round, valuing the company at $2 billion. This massive investment underscores a growing trend toward developing adaptable robots capable of more than just simple tasks. Notably, many of these high-profile funding rounds share a common investor: Jeff Bezos.
Robotics Funding Trends
Robotics startups have seen a strong venture funding year, with $6.4 billion raised in 2024 so far. This pace suggests the sector will surpass last year’s total of $6.9 billion, approaching an estimated $7.5 billion by year’s end, according to Crunchbase data. While these figures are still far from the record-breaking $14.7 billion of 2021, they indicate a healthy and investor-attractive sector.
Money for More Flexible Robots
One key distinction between this year and last is the number of funding rounds. In 2024, there have been only 473 rounds compared to 671 in 2023. However, the substantial size of this year’s largest rounds has boosted total funding. Physical Intelligence’s $400 million round and Figure’s $675 million round earlier in the year were significantly larger than 2023’s top robotics round, a $330 million Series F for Zipline.
Physical Intelligence plans to leverage its new capital to enhance robot functionality and develop versatile software platforms that can be applied to various models. Figure, based in Sunnyvale, California, is working on AI-powered robots aimed at performing hazardous jobs and mitigating labor shortages. Its $675 million raise at a $2 billion valuation in February marked another major milestone.
AI-Powered Versatility in Robotics
The current landscape of robotics startups highlights a significant trend: the use of AI to expand robots’ capabilities beyond traditional tasks like warehouse work. In July, Skild AI, a Pittsburgh-based company developing flexible robot brain models for various tasks, secured a $300 million Series A, valuing it at $1.5 billion.
Another notable player is Collaborative Robotics, based in Santa Clara, California, which raised $100 million in April for its Series B round. The startup’s “cobots,” or collaborative robots, are designed to work alongside humans in industries such as manufacturing, healthcare, and retail, showcasing how versatile AI integration is reshaping the field.
A Big-Name Investor: Jeff Bezos
A significant driver behind some of the largest investments in robotics is Jeff Bezos. Through individual investments or his venture capital firm, Bezos Expeditions, the Amazon founder has been a key supporter of this technological evolution. Bezos co-led Physical Intelligence’s recent funding round and participated in Figure’s substantial raise. Bezos Expeditions was also a co-lead in Skild AI’s funding.
Bezos’ investment history in robotics isn’t new. He previously backed Vicarious, an AI startup focused on developing general intelligence for robots, which was acquired by Intrinsic in 2022. Additionally, Bezos Expeditions has funded Swiss-Mile, a Swiss AI-driven robotics company, and Rethink Robotics, based in Boston.
Physical Intelligence’s $400 million raise is more than a single win; it’s a sign of the evolving robotics industry, emphasizing versatility and AI integration. With venture funding on track to exceed last year’s total, and influential investors like Jeff Bezos backing these developments, the sector is poised for continued growth. The robotics landscape is changing rapidly, promising smarter, more capable solutions for diverse industries.