1X Technologies, originally Halodi Robotics, has been developing general-purpose robots for labor-intensive tasks for a decade. The company made significant strides in 2022 when it partnered with OpenAI to add intelligence to its machines. Its current robot, Eve, has been deployed in multiple organizations for industrial tasks. The company is also developing Neo, a bipedal humanoid for consumer markets, designed for home assistance tasks.
Key takeaways:
- 1X Technologies, a Norwegian robotics startup, has raised $100 million in a series B funding round. The investment will be used to support its existing enterprise customers and bring its new bipedal android “NEO” into the market.
- The company was founded ten years ago and has developed technology such as the world’s highest torque torque-to-weight drive servo motor for mimicking soft, organic muscle movement. It has also partnered with OpenAI to add intelligence to its machines.
- 1X Technologies is also developing Neo, a bipedal humanoid targeted towards consumer markets. It has been designed for everyday home assistance, offering support for domestic tasks like cleaning, organizing or running errands.
- The market for AI robots is expected to grow from $6.9 billion in 2021 to $35.3 billion in 2026, with a CAGR of nearly 39%.