Figure reaches $39B valuation in latest funding round

In a significant development for the robotics sector, Figure, a company specializing in humanoid robots, has successfully completed its largest funding round to date. This funding milestone reflects the increasing interest from investors in robots designed to collaborate with humans in various environments, including warehouses and factories. Based in San Jose, California, Figure announced on Tuesday that it has secured a Series C funding round that values the company at an impressive $39 billion. The round, which surpassed $1 billion, was spearheaded by Parkway Venture Capital, with notable participation from Brookfield Asset Management, Nvidia, and Intel Capital, among others. The funds raised will be instrumental in expanding Figure's fleet of humanoid robots, enhancing the infrastructure necessary for accelerated robot training, and initiating advanced data collection initiatives. Since its inception in 2022, Figure has amassed nearly $2 billion in total funding. Earlier this year, the company’s CEO, Brett Adcock, noted that Figure was one of the most highly sought-after stocks in the private equity market. However, the firm has also been proactive in protecting its interests, issuing cease-and-desist letters to various secondary stock market brokers. In April, Figure indicated to TechCrunch that these letters are sent to brokers who lack authorization to sell its shares. TechCrunch has reached out to Figure for further comments on this matter.