An investment firm with a penchant for cryptocurrency has participated in a substantial Series A funding round for Apptronik, a Texas-based company focused on developing humanoid robots.
On March 18, Apptronik announced the successful closure of an oversubscribed $403 million Series A funding round, which added an additional $53 million to the previously disclosed $350 million raised in February.
With its investment in Apptronik’s Series A round, the firm has opened the doors for investors to access the company through its dedicated fund that concentrates on “disruptive innovation.”
Image Credit: Source
“Following our investment in their Series A round, we are excited to provide investors with access to Apptronik! Download the app to get started today,” the firm stated in a post on X platform on Tuesday.
Notable Investors Include Mercedes-Benz, Japan Post, and Google
The initial $350 million Series A funding, led by B Capital from California and Capital Factory from Texas, also attracted investment from tech giant Google.
The recent fundraising attracted new participants such as the renowned automotive manufacturer Mercedes-Benz, early-stage technology investor Japan Post Capital, RyderVentures (the corporate venture arm of Ryder System), and a consortium spearheaded by Korea Investment Partners.
This oversubscribed funding round highlights robust market interest and investor trust in the revolutionary potential of embodied artificial intelligence, which integrates AI into physical systems.
Apptronik’s Vision: Combining Human and Machine
Founded in 2016, Apptronik emerged from the Human-Centered Robotics Lab at the University of Texas at Austin, aiming to pioneer the next wave of robotic innovations.
The company asserts that it has developed 15 robotic systems, including the humanoid robot NASA Valkyrie, before introducing Apollo—an AI-driven humanoid crafted for industrial applications.
Apptronik’s humanoid robot in action. Image Credit: Apptronik
“We believe that the future relies not on a conflict between Man and Machine, but rather on their partnership, propelling humanity into a new era of evolution,” states the company’s website.
Past endeavors in humanoid robotics for Apptronik trace back to 2013, during the NASA-DARPA Robotics Challenge, where the Human Centered Robotics Lab showcased the Valkyrie robot.
Moreover, Google’s AI segment, DeepMind, has collaborated with Apptronik to enhance embodied AI capabilities for their bipedal robots.
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The investment in Apptronik underscores the firm’s ongoing dedication to advancement and innovation in technology, as reflected in the very meaning of its name, which stands for “Active Research Knowledge.”
In addition to Apptronik, the firm has backed a plethora of AI initiatives, including Anthropic, OpenAI, Groq, and others.
Notably, in October 2024, the firm reportedly committed to investing a minimum of $250 million in OpenAI’s funding round, making it the fund’s third-largest holding, representing 5% of its total assets.
The seven largest companies in the investment fund. Image Credit: Source
By the end of February, Elon Musk’s SpaceX constituted the largest share of the fund at an approximate weight of 16%, according to the official website.
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