Humanoid Robot Developer 1X Targets $1 Billion in New Funding

Humanoid robotics startup 1X has told investors and employees it is trying to raise as much as $1 billion, according to three people who spoke to CEO Bernt Øivind Børnich. The decade-old company is aiming for a valuation of at least $10 billion, Børnich said, or more than 12 times its previous valuation from a January financing, according to one of the people.

The move comes as large firms such as Tesla, Amazon and OpenAI develop their own hardware or software for humanoid robots in homes or factories, and several other humanoid startups raised capital despite little to no revenue. That list includes Figure AI, which this month said it had $1 billion in commitments to invest at a $39 billion valuation.