AI startup Figure raises $70 million to build humanoid robots

FILE PHOTO: An illustration projected on a screen shows a robot hand and a human one moving towards each others during the "AI for Good" Global Summit at the International Telecommunication Union (ITU) in Geneva, Switzerland, June 7, 2017. REUTERS/Denis Balibouse

(Reuters) - Figure, a startup that wants to build general-purpose humanoid robots, has raised $70 million from investors led by Parkway Venture Capital in its first external round, the company said on Wednesday.

The new funding will be used to accelerate the development and manufacturing of the company’s first autonomous humanoid, which is expected to launch in the next few months. The valuation of the one-year-old company was not disclosed, but a source close to the firm put the value at over $400 million.