Figure AI is aiming to manufacture and deploy approximately 100,000 units within four years and is currently seeking to raise $1.5 billion at a $39.5 billion valuation, a significant increase from its previous valuation. The company has been actively issuing cease-and-desist letters to prevent unauthorized marketing of its shares. This comes as Figure AI claims its robots possess advanced motor skills, although skepticism remains due to the lack of live demonstrations.
Key takeaways:
- Brett Adcock, CEO of Figure AI, addressed skepticism about the company's relationship with BMW at the Bloomberg Tech conference but did not provide specific details about the contract.
- Figure AI has signed a contract with a second, unnamed customer for initial deployment, reportedly UPS, and plans to manufacture and deploy 100,000 units within four years.
- The company has faced scrutiny for not showcasing its robots live, unlike competitors Agility Robotics and Boston Dynamics, and prefers to demonstrate its robots through videos.
- Figure AI is attempting to raise a $1.5 billion round at a $39.5 billion valuation, a significant increase from its previous valuation, amid issuing cease-and-desist letters to secondary market brokers.