Uptronic Boosts Funding to $5.3 Billion for Humanoid Robot Development
Uptronic, a company specializing in humanoid robots and working with Google's DeepMind and others, announced the reopening of its Series A funding round, bringing the total amount raised to $935 million. While the company did not disclose the exact valuation, it is estimated that the round's closing valuation was approximately $5.3 billion.
According to a report by Julie Port on Tech.com, Uptronic had previously announced a $350 million funding round a year ago, which it then expanded to $415 million due to strong demand. It has now added an additional $520 million from existing investors such as Google, Mercedes-Benz, and B Capital, along with new investors. Uptronic explained that investors paid progressively higher prices for their shares in each expansion, raising the valuation to more than triple the initial round's valuation of approximately $1.75 billion, according to PitchBook data.
Robots Capable of Perceiving Their Environment
The company justifies maintaining its Series A funding round, despite the large size, by stating that it is still in the early stages of development and was not actively seeking additional funding, but rather responding to incoming investor interest. Turning down an additional $520 million in a single year, and at a higher price, is difficult, especially in a costly field like two-legged robots. By comparison, prominent competitor Vigor AI has raised nearly $2 billion since its founding in 2022, before announcing an additional $1 billion round last fall.
The excitement surrounding Uptronic stems from its partnerships with Google DeepMind, GXO, and Mercedes-Benz to develop what is known as embodied artificial intelligence—robots capable of perceiving their environment and taking physical actions based on thought rather than following fixed instructions. These robots are designed for tasks such as unloading trailers, picking inventory in warehouses, and maintaining machinery.
Funding and Valuation Details
Total funding increased from $415 million to $935 million across successive rounds, with the share price rising and the valuation reaching $5.3 billion, reflecting strong confidence from strategic investors such as Google and Mercedes-Benz.
Company Background and Technological Developments
Optronic's roots trace back to 2013 at the Human-Centered Robotics Lab at the University of Texas at Austin, where its members participated in the NASA/DARPA Robotics Challenge and worked on the Valkyrie robot. The partnership with NASA continues during the development of the Apollo commercial robot, giving the company significant experience in the field despite the funding being classified as early-stage.