What is fueling the surge in robotics funding this year
Description
Funding in robotics remains strong as startups enhance robot capabilities. As of November 12, 2024, the robotics sector has attracted $6.4 billion in funding, with a projected year-end total of nearly $7.5 billion, surpassing last year's $6.9 billion. The sector shows a decrease in funding rounds, with 473 completed this year compared to 671 in 2023. Significant funding rounds include $400 million for Physical Intelligence and $675 million for Figure. Physical Intelligence aims to improve robot functionality and develop foundational software, while Figure focuses on AI-enhanced robots for dangerous jobs. Other notable startups include Skild AI, which secured $300 million for brain models in robotics, and Collaborative Robotics, which raised $100 million for collaborative robots in manufacturing and healthcare. Jeff Bezos has emerged as a key investor in many of these startups, contributing to advancements in robotic intelligence through his firm and prior investments.
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