Agility Robotics Inc., a leading developer of humanoid robots for warehouse operations, is set to receive a $150 million investment, marking another significant influx of capital into the robotics sector this year, Bloomberg reports.
The funding round, led by venture capital firm DCVC, values the startup at about $1 billion, according to sources familiar with the matter. Agility Robotics declined to comment on the deal or its valuation.
The fresh capital comes as Agility prepares to launch its fourth-generation humanoid robot, designed to assist businesses with inventory management and stocking in warehouses. The startup, a spin-off from Oregon State University, has already deployed its robots at a Spanx warehouse and is currently testing its technology at Amazon.com Inc. facilities.
Agility’s success in deploying functional robots into real-world applications sets it apart in the burgeoning humanoid robotics market. The company’s advancements, fueled by powerful batteries, sophisticated motors, and advanced sensors, combined with software that enables the robots to navigate human-centric environments, have attracted significant investor interest.
This recent funding round follows a $150 million investment in 2021 that valued Agility at $550 million.
Agility Robotics is not alone in attracting significant investment in the robotics space. The recent surge in interest, driven by the growing prominence of artificial intelligence, has fueled a wave of funding for robotics startups.
Earlier this year, Figure AI Inc., another humanoid robot startup, secured a $2.6 billion valuation and announced plans to collaborate with OpenAI. Norwegian robotics startup 1X Technologies AS also raised $100 million, while Nimble secured $106 million in funding led by FedEx Corp.
Agility Robotics is led by CEO Peggy Johnson, who previously held leadership positions at augmented reality startup Magic Leap Inc. and technology giants Microsoft Corp. and Qualcomm Inc.
