The funds will be used to reward the company's team for their contributions, as well as to enhance the company's Embodied AI offering and go-to-market strategy for NEO. Critics argue that such systems are over-engineered and that true general-purpose functionality is further off than suggested. However, the company believes that generative AI can address these challenges.
Key takeaways:
- The Norwegian firm 1X has raised a $100 million Series B, bringing its total fundraising to $125 million. The round was led by EQT Ventures, with participation from OpenAI and Tiger Global.
- 1X's main product is NEO, a humanoid robot designed to address global labor shortages. The company believes that humanoid robots are the ideal solution for navigating environments built by humans.
- Despite the significant funding, there are critics who argue that such systems are over-engineered and that true general-purpose functionality is much further off than suggested.
- The new funds will be used to reward the company's team, enhance its Embodied AI offering, and support the go-to-market strategy for NEO.