Norwegian-based robotics company 1X Technologies has successfully closed its Series A2 funding round, raising $23.5 million with OpenAI Startup Fund leading the round, with participation from Tiger Global and a consortium of Norway-based investors.
1X is a manufacturer and inventor of androids, aiming to create robots with practical, real-world applications to augment labor globally.
A Series A2 funding round headed by OpenAI has been announced by humanoid robotics company 1X Technologies to pursue the mass production of androids. The business plans to utilize the money to ramp up construction work on its next bipedal android model NEO and to scale up production of its first commercially available android EVE in Norway and North America1X
Upcoming Bipedal Android Model
The funding will increase the efforts to build its upcoming bipedal android model NEO. The company will also use it to scale the manufacturing of its first commercially available android, EVE, in Norway and North America.
OpenAI's COO and manager of the OpenAI Startup Fund, Brad Lightcap, said in a statement, "1X is at the forefront of augmenting labor through the use of safe, advanced technologies in robotics. The OpenAI Startup Fund believes in the approach and impacts that 1X can have on the future of work."
Tiger Global partner Griffin Schroeder added, "We believe 1X's androids are revolutionizing the field of robotics and are excited to be investing alongside OpenAI to support their continued growth."
The company plans to deploy its wheeled android EVE at an unprecedented commercial scale to gain a unique understanding of the challenges and opportunities the robotics community has yet to address. The goal is to ensure androids can function and work safely in the real world.
According to Alliance Venture partner Arne Tonning, demographic shifts will result in a labor deficit, and androids may be able to make up for it. He thinks that 1X Technologies is building a successful alliance and that tackling the proper use cases is the key to success.
As 1X enters this ambitious commercialization phase, Espen Kjellsen, a partner at Skagerak Capital, believes it will be exciting for Skagerak to support 1X with its breakthrough technology.
The engineering and robotics business 1X creates androids with human-like motions and characteristics. With more than 60 employees worldwide, the company was established in 2014 and had its headquarters in Norway.
The demand for robotic workers is growing in a world where demographic changes and labor shortages are expected to be major challenges. According to a report by Goldman Sachs, the market potential for robots in 2035 could reach $150 billion.
Humanoid robots may help fill this gap by augmenting the labor market with their ability to perform repetitive, dangerous tasks or require high precision.
OpenAI's investment in 1X is a testament to the potential of humanoid robots in the future of work. The deployment of EVE at a commercial scale and the development of NEO may pave the way for androids to work safely in the real world.
