Norwegian humanoid robotics company 1X Technologies (formerly known as Halodi Robotics) recently announced that it has closed a $23.5 million Series A2 round of funding led by OpenAI Venture Fund and followed by Tiger Global and a number of Norwegian investors.
Source: 1X Technologies
1X reportedly intends to use the funding to ramp up development of its upcoming bipedal robot model NEO, as well as mass production of its first commercial robot EVE in Norway and North America.
1X says its goal is to create robots with real-world applications that will increase the global workforce.
Bernt Øyvind Børnich, founder and CEO of 1X Technologies, said, “1X is excited to receive a lead investment from OpenAI because we share the same mission: to consciously integrate emerging technologies into people’s everyday lives. With the support of our investors, we will continue to make significant progress in robotics and enhance the global labor market.”
Founded in 2014, 1X Technologies is an engineering and robotics company that produces robots capable of human-like movements and behaviors.
Børnich emphasized the need to deploy robots in the real world, “Deploying our wheeled robot, EVE, on an unprecedented commercial scale has given us a unique understanding of the challenges and opportunities that the robotics community has yet to address. If robots are going to work in our world, they need to experience our world.”
The company’s mission is to create robots with practical, real-world applications to increase the global workforce. The company currently has about 60 employees.
Brad Lightcap, Chief Operating Officer and Venture Fund Manager at OpenAI, said, “1X is at the forefront of enhancing the workforce through the use of safe, advanced robotics. the OpenAI Venture Fund believes 1X can have an impact on the future of work.”
Griffin Schroeder, Partner at Tiger Global, said, “We believe 1X’s robots are revolutionizing the robotics space and we are excited to invest in them alongside OpenAI to support their continued growth.”
Arne Tonning, Partner at Alliance Venture, said, “Demographic change will lead to labor shortages, and robots can help fill the gap. Goldman Sachs predicts a market potential of $150 billion by 2035 (currently about RMB 1.03 trillion). Solving the right use cases is the key to success, and we believe 1X Technologies is building a winning alliance.”
Espen Kjellsen, Partner at Skagerak Capital, said, “1X is now deploying robots in North America and then entering the global market while maintaining a ‘safety first’ mentality, which makes product design and development even more challenging. Skagerak is excited to support 1X and its disruptive technology as it enters this ambitious phase of commercialization.”