1X, an AI and robotics company in Moss, Norway, has raised $100 million in Series B funding, led by EQT Ventures and other global investors. The funding will be used to launch their second-generation android, NEO, designed for home assistance and various domestic tasks. The company, known for creating safe androids to work alongside humans, aims to advance AI robotics with its unique approach to embodied learning for data collection. This funding comes on the heels of a successful Series A round in March 2023, bringing 1X’s total funding to over $125 million in less than a year. The round also included a significant secondary transaction, with existing investor Sandwater increasing its stake, and participation from new investor Samsung NEXT and others.
1X, formerly Halodi Robotics, was founded by CEO Bernt Øyvind Børnich to create versatile robots. Key milestones include the development of Revo1 in 2018, global expansion in 2019, and a partnership with Everon by ADT Commercial in 2020 for night guarding androids. In 2022, a collaboration with OpenAI laid the groundwork for embodied learning. Currently, 1X is focused on scaling production for commercial androids like EVE and NEO, embedding them with proprietary intelligence. Safety is a priority, with rigorous real-world testing and organically-inspired mechanics.
“We are thrilled that these leading investors are supporting 1X’s mission of safely deploying Androids with Smart Behavior into new markets. Our next milestone will be scaling our data collection strategy for Embodied AI and offering NEO to consumers,” says Bernt Øivind Børnich, CEO of 1X.
After successfully completing a Series A funding round led by OpenAI and Tiger Global in March 2023, 1X has now raised over $125 million in less than 12 months. This funding will support their mission to produce safe and advanced androids at a commercial scale, aiming to meet global labor demands and build an abundant society. As part of the round, 1X also facilitated a significant secondary transaction in which existing investor Sandwater increased its stake with the third largest contribution to the round. Other secondary participants included new investor Samsung NEXT, and existing investors Skagerak Capital and the Nistad group.
“From Leonardo da Vinci, to today’s sci-fi, humans have dreamt of humanoid robots for more than 500 years. It’s a privilege to witness the enabling technologies form in front of our eyes, in real-time. The impact of androids joining our human workforce, on our terms will be transformative (to say the least). We’re convinced 1X with their NEO androids will play a crucial role in the pioneering steps towards the first forays of our technological and human future,” says Ted Persson, Partner, EQT Ventures.
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Read the orginal article: https://arcticstartup.com/1x-raises-100m-series-b/
