Humanoid robot startup Apptronik has now raised $935M at a $5B+ valuation | TechCrunch

"University of Texas spinout Apptronik, a builder of humanoid robots for Google DeepMind among others, on Wednesday announced that it re-opened its Series A to raise a total of $935 million for the round. While the company did not disclose the valuation, TechCrunch separately learned that its post-money valuation is now about $5.3 billion. Apptronik previously announced a $350 million Series A a year ago, but demand was so strong, according to the company, that it expanded the round to $415 million."

"Now it has raised another $520 million from earlier investors Google, Mercedes-Benz, and B Capital, alongside some new investors. While it may sound like the startup is just selling off ever bigger chunks of itself at its Series A price, that's not exactly what's happening. The company says its investors have paid progressively more for shares in each subsequent extension - valuing it at roughly triple the initial Series A valuation of around $1.75 billion, according to PitchBook."

"Part of the excitement over Apptronik is that it has partnered with Google DeepMind, as well as GXO and Mercedes-Benz, to deliver what the industry calls embodied AI - robots capable of perceiving their environment and taking physical action based on reasoning, rather than just following fixed instructions. The robot is being built for tasks like unloading trailers, picking warehouse inventory, and tending machinery, the company says."

Apptronik reopened and expanded its Series A to raise a total of $935 million, adding $520 million from existing and new investors including Google, Mercedes-Benz, and B Capital. The post-money valuation is about $5.3 billion, roughly triple the initial Series A valuation of around $1.75 billion, reflecting progressively higher prices in each extension. The company characterizes itself as early-stage and attributes the raise to inbound investor interest rather than active fundraising. Apptronik focuses on embodied AI for bipedal humanoid robots designed to perceive environments and perform tasks such as unloading trailers, picking warehouse inventory, and tending machinery. Bipedal robot development requires high capital, as demonstrated by competitors raising large sums.

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