Total Raised
~$140M
Hand DOF
20/hand
Industry-leading dexterous hands
Task Learning
<24 hr
50x improvement Gen 6 → Gen 7
Employees
~160
After Nov 2024 layoffs
Funding History
Total raised: ~$140M · Latest valuation: Not publicly disclosed
| Round | Date | Amount | Valuation | Key Investors |
|---|---|---|---|---|
| Seed / Early | 2018–2021 | Multiple early rounds | — | Magna International (initial 2021)Verizon VenturesBell |
| Series A | Mar 2022 | C$75.5M (~$58.5M) | — | BellBDC CapitalMagnaVerizon Ventures+1 more |
| Strategic / Magna Equity Investment | Apr 2024 | Undisclosed (Magna's 2nd investment) | — | Magna International |
| Convertible Note | Jan 2025 | $10M offering announced (~$2.5M reported) | — | Existing investors |
Product Specifications
| Spec | Phoenix Gen 8 |
|---|---|
| Height | 170cm (5'7") |
| Weight | 70kg |
| Hand DOF | 20 per hand |
| Hand Type | Hydraulic |
| Payload | 25kg (55 lb) |
| Mobility | Wheeled base (deliberate design choice) |
| AI | Carbon AI; <24hr autonomous task learning |
| Sensors | Depth + vision cameras, force-torque, tactile/haptic |
Partnerships & Investors
Magna InternationalInvestor & Customer
Investor since 2021; 2024 strategic deal includes equity, manufacturing pilots at Magna plants, future contract manufacturing of Phoenix
Bell CanadaInvestor
Series A participant
Verizon VenturesInvestor
Early backer
Workday VenturesInvestor
Series A participant
Key Milestones
2018
Company Founded
Founded by Geordie Rose (D-Wave co-founder), Suzanne Gildert, Olivia Norton, Ajay Agrawal
Mar 2022
C$75.5M Series A
May 2023
Phoenix Gen 6 Unveiled
Bipedal/wheeled humanoid with hydraulic dexterous hands
Apr 2024
Magna Strategic Partnership
Magna's 2nd equity investment + manufacturing pilot at Magna facilities
Apr 2024
Phoenix Gen 7 Released
50x faster autonomous task learning (<24hr); reduced BOM cost; lighter weight
Nov 2024
CEO Departure & Layoffs
Board removes co-founder Geordie Rose as CEO; ~30+ layoffs (software, marketing); CMO Benedict Reed exits
Dec 2024
James Wells Named Permanent CEO
Promoted from CCO/Interim CEO to permanent CEO
Jan 2025
Phoenix Gen 8 Released
Optimized for high-quality data capture: improved cameras, telemetry, person-robot interaction
Jan 2025
$10M Convertible Note
Bridge financing announced; ~$2.5M reported received