1X Technologies raises $100M to bring humanoid robots into everyday living

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Norwegian robotics startup 1X Technologies has raised $100 million in its series B funding round to bring humanoid robots into everyday living. The company’s humanoid robot, NEO, is designed to autonomously navigate homes and handle household tasks. The funding will be used to enhance 1X’s Embodied AI offering and support the go-to-market strategy for NEO.

1X Technologies has been making waves in the robotics industry since its inception. The company’s humanoid robot, NEO, is a sophisticated bipedal robot that can autonomously navigate homes and handle household tasks. The robot is being developed with embodied AI to ensure it is safe to operate around consumers.

The recent $100 million Series B funding round, led by EQT Ventures, has propelled the company’s total fundraising to an enviable $125 million. Notably, OpenAI’s participation in the funding round has drawn attention, given the firm’s influential role in advancing generative AI, which is expected to shape the future of robotics.

At the core of 1X’s endeavors lies NEO, its humanoid robot designed to address global labor shortages by navigating human-built environments. While NEO shares similarities with other humanoid systems, it aims to offer a solution to a pressing issue in today’s workforce. However, there are differing opinions on the feasibility and practicality of humanoid robots, with some expressing skepticism about their current level of development and functionality.

The substantial funding will be directed towards enhancing 1X’s Embodied AI offering and supporting the go-to-market strategy for NEO. CEO Bernt Øivind Børnich emphasized the significance of the funding, acknowledging the pivotal contributions of the dedicated team and the positive impact on the company’s progress.