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Portco highlight: Figure AI
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| In portfolio since |
Q1 2025 |
| invested amount | $2,414,600 |
Figure AI is developing full-scale humanoid robots designed to take on dangerous, repetitive, or labor-intensive tasks—starting with factories and warehouses. Its robots, Figure 01 and Figure 02, are capable of walking, grasping, lifting, and reasoning through tasks in real-world environments.
The company was founded in 2022 by Brett Adcock, a repeat founder who previously built Vettery (acquired for ~$100M) and Archer Aviation (NYSE: ACHR).
Last year, Figure AI raised $675M in Series B funding at a $2.6B valuation with investments from Microsoft, OpenAI Startup Fund, NVIDIA, Jeff Bezos (through Bezos Expeditions), Parkway Venture Capital, and ARK Invest. It is reportedly finalizing a $1.5B Series C round at a $39.5B valuation.
In 2024, Figure became one of the first companies to deliver humanoid robots to a paying enterprise customer. A pilot with BMW brought robots onto automotive factory floors—where they’re now performing physical assembly tasks.
In March 2025, Figure unveiled BotQ, a 100,000 sq ft manufacturing facility in California capable of producing 12,000 robots per year.
Figure’s core advantage is its vertical integration. The robots run on Helix, a proprietary AI model that combines vision, language, and real-time control to let robots reason and act naturally—without needing to be reprogrammed for every task. This gives Figure a practical edge over more narrow-purpose robots. In recent demos, Figure’s robots made coffee, sorted tools, and worked side-by-side to assemble components—without prior programming.
With early commercial traction, in-house mass production capabilities, proprietary AI, and one of the most well-capitalized efforts in humanoid robotics, Figure is emerging as a category-defining player in the shift toward embodied AI.
With a valuation now exceeding $2 billion, Figure AI is positioning itself as a leader in a space where rivals like Boston Dynamics (backed by Hyundai) and Unitrobot are also vying for dominance. The $9 billion revenue target by 2029, if achieved, would represent a 450% compound annual growth rate from its current estimates.
The Note offers indirect exposure to innovative companies like Figure AI, giving you a way to participate in the outcomes of venture-backed startups.
