Figure’s Humanoid Robot Secures $9 Million Investment from Intel

Intel Invests in Figure’s Humanoid Robot Project

At Squaredtech.co, we’ve been tracking a major leap in robotics development. This week, Figure, a Bay Area robotics startup, revealed that its humanoid robot took its first steps—a breakthrough timed just before the company’s first anniversary. The progress follows $100 million in early funding led by CEO Brett Adcock and now includes a new $9 million investment from Intel Capital.

The announcement marks a key moment for the company and its ambitious plan to build a general-purpose humanoid robot. Figure is one of several firms racing to develop human-like machines capable of performing labor-intensive tasks. Unlike Tesla’s one-size-fits-all approach, Figure is currently focused on industrial warehouse tasks.

The added support from Intel Capital may fast-track Figure’s goals, helping the company scale up its operations and bring its first robot—Figure 01—closer to commercial readiness.

Figure Gains Momentum with $70M Round and Intel’s $9M Boost

Running a robotics firm from scratch requires both capital and hardware expertise. Since launching, Figure has been bootstrapped with funding from founder Brett Adcock, who poured in $100 million of his own money. In May, the company closed a $70 million Series A round led by Parkway Venture Capital.

That momentum has now attracted Intel Capital, which is betting an additional $9 million on Figure’s vision. According to Intel, this investment could lead to a broader strategic partnership, opening access to Intel’s hardware, AI platforms, and global network.

Mark Lydon, managing director at Intel Capital, said they look for startups working at the cutting edge of technology. He described Figure as a potential game-changer in the labor economy and praised the startup’s progress on humanoid robotics.

Lydon added that Intel is excited to support Figure’s mission, saying, “We believe Figure has the potential to redefine how artificial intelligence intersects with physical labor.” At Squaredtech, we view this backing as a key signal that enterprise-grade humanoids are closer to reality than ever before.

Humanoids Are on the Rise—And Figure Wants to Lead

Figure isn’t the only company racing to build the first successful multipurpose humanoid. Major players like Tesla, Apptronik, and OpenAI-backed 1X are all in the race. But unlike its competitors, Figure is taking a focused approach, starting with a clear industrial use case before expanding.

In May, Squaredtech visited Figure’s headquarters, where the team had built a simulated warehouse inside their office space. The company was preparing to test Figure 01, its first humanoid prototype, in a live environment designed to mirror real-world logistics tasks.

Although the robot was not ready to run full tests at that time, the company’s early engineering demos were enough to impress Intel Capital. Their team noted the robot’s software, motion control, and design as key strengths.

With this new capital, Figure can now accelerate its progress—hiring engineers, refining its hardware, and moving toward real-world pilot deployments.

CEO Brett Adcock said in a statement shared with Squaredtech,

“Intel Capital is taking bold risks toward a brighter future, and we are proud to share that same vision. Their global expertise and resources will help us grow faster and bring our humanoid to the market.”

What’s Next for Figure’s Humanoid Robot?

With the support of Intel Capital and recent Series A funding, Figure is now positioned to compete at a global level. According to Squaredtech sources, the startup is already seeking additional funding to support manufacturing and early pilot programs.

Figure’s long-term goal is to build a general-purpose humanoid that can function across industries. But its near-term focus remains clear: build a robot that can work in warehouses and logistics environments, helping companies fill labor gaps and improve efficiency.

While Tesla and others chase broader applications, Figure is betting that a narrow, proven rollout will help it scale faster and avoid early-stage technical failures. This strategy has already drawn investor confidence—and it’s now attracting corporate interest.

At Squaredtech.co, we’ll continue monitoring Figure’s next moves as it attempts to bring its humanoid robot into real-world environments. For now, its first steps mark a major milestone—and Intel’s $9 million vote of confidence suggests big tech is ready to bet on robots walking among us.

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The Intel team’s global resources and expertise will help Figure accelerate their growth and success by investing in them.

This article has been updated. The original version was published on July 18th, 2023.