Humanoid Robots
Humanoid Robot Market & Funding
Venture Capital Funding by Year
Annual VC investment in humanoid robotics: $239M (2022) → $1.2B (2024) → $6.1B (2025).
Major Funding Rounds
Largest humanoid robot funding rounds: Figure AI ($1B+), Skild AI ($1.4B), Apptronik ($935M), Physical Intelligence ($600M).
| Company | Date | Round | Amount Raised | Post-Money Val. | Key Investors | Total Raised |
|---|---|---|---|---|---|---|
| Apptronik | Feb 2026 | Series A Ext. | $520M | $5.5B | Google, Mercedes, AT&T, John Deere, Qatar IA | $935M |
| Skild AI | Jan 2026 | Series C | $1.4B | $14B | SoftBank, NVentures, Macquarie, Bezos | ~$2B |
| Robot Era | Q1 2026 | Series A+ | $145M | $1.5B | Beijing-based; investor list undisclosed in public filings | ~$200M+ |
| Sunday Robotics | Q1 2026 | Series B | $165M | Undisclosed | Coatue (lead) | ~$200M+ |
| Galbot | Dec 2025 | Series B+ | $362M | $3B | China Mobile, Tencent, Alibaba, Ant Group | ~$800M |
| Physical Intelligence | Nov 2025 | Series B | $600M | $5.6B | T. Rowe Price, Index Ventures | ~$1.07B |
| Figure AI | Sep 2025 | Series C | $1B+ | $39B | Microsoft, OpenAI, NVIDIA, Intel, Bezos, Salesforce | $1.7B+ |
| Unitree | Jun 2025 | Series C | ~$96M | $1.7B | Tencent, Ant Group, Alibaba, Geely | ~$248M |
| Apptronik | Feb 2025 | Series A | $415M | $1.8B | Google, Mercedes-Benz, B Capital | $415M |
| Agility Robotics | 2025 | Growth round | $400M (target) | $1.75B | NVentures, SoftBank | ~$641M |
| Fourier Intelligence | Jan 2025 | Series E | ~$109M | $1.1B | Guoxin, Pudong VC, Prosperity7 | $246M |
| Physical Intelligence | Nov 2024 | Series A | $400M | $2B | CapitalG (Alphabet), Bezos, Thrive Capital, Lux | $470M |
| Figure AI | Feb 2024 | Series B | $675M | $2.6B | Microsoft ($95M), NVIDIA ($50M), Bezos ($100M), OpenAI, Intel, ARK | $675M |
| Unitree | Feb 2024 | Series B | $139M | - | Various | $139M |
| 1X Technologies | Jan 2024 | Series B | $100M | - | EQT Ventures, OpenAI, Tiger Global, Samsung | $125M+ |
| 1X Technologies | Mar 2023 | Series A | $23.5M | - | OpenAI, Tiger Global | $23.5M |
| Agility Robotics | Apr 2022 | Series B | $150M | - | DCVC, Playground, Amazon IIF | $150M |
| Sanctuary AI | Various | Series A + Govt | ~$140M total | - | BDC Capital, Bell, Magna, Verizon Ventures | ~$140M |
| AgiBot | Various | Multiple rounds | ~$84M disclosed | >$1B (2026 IPO plan) | Tencent, HongShan, Baidu, LG, BYD, Hillhouse | ~$84M+ |
Pilot Deployments and Commercial Sales
Cross-company view of where humanoids have actually deployed: 21 deployments spanning Pilot/RaaS, unit-sale, and internal-only models. Figure-BMW Spartanburg is the canonical milestone.
| Operator | Customer | Site | Year | Units | Status | Model | Notes |
|---|---|---|---|---|---|---|---|
| 1X Technologies | ADT Commercial | US (multiple sites, security patrol) | 2023 | ~100s (self-reported) | Historical / uncertain | Pilot/RaaS | EVE wheeled humanoid for nighttime patrol. Numbers self-reported by 1X; no independent verification or recent updates. Treat as historical. |
| Sanctuary AI | Magna International | Austria (auto parts plant) | 2023 | 1 | Pilot active | Pilot/RaaS | Apr 2024 expanded to strategic partnership + Magna equity investment in Sanctuary. |
| Agility Robotics | GXO (Spanx) | Flowery Branch, GA (Atlanta DC) | 2023 PoC → 2024 commercial | Not disclosed | Commercial RaaS | Pilot/RaaS | Industry's first commercial humanoid RaaS deal (Jun 2024). >100,000 totes moved at the site. |
| Agility Robotics | Amazon | Sumner, WA (BIL R&D) | 2023 | ~6 | R&D (stuck) | Pilot/RaaS | Tote handling pilot announced Oct 2023; no scaled production deployment in Amazon fulfillment centers despite Amazon being an investor. |
| Figure AI | BMW Manufacturing | Spartanburg, SC | 2024 (Jan announced) | 2 (Figure 02) | Pilot completed Nov 2025 | Pilot/RaaS | Canonical sector milestone: 11-month run, 90,000+ parts handled, 30,000+ X3 vehicles, 1,250 hours, ~99% placement accuracy. |
| Apptronik | Mercedes-Benz | Berlin-Marienfelde + Kecskemét HU | 2024 (Mar) | Single-digit | Pilot active | Pilot/RaaS | Mar 2025 Mercedes took equity stake in Apptronik (low double-digit millions USD). |
| Sanctuary AI | Unnamed European OEM | Europe (undisclosed) | 2024 (Apr) | 1 | Pilot active | Pilot/RaaS | Phoenix Gen 7 unveil; customer name kept anonymous as 'European car manufacturer'. |
| UBTECH | Nio | F2 plant (final assembly), China | 2024 (late) | 1+ (training) | Pilot active | Pilot (Chinese training) | Claimed world-first humanoid on auto QC line; Chinese-press primary source. |
| UBTECH | BYD + Geely + Foxconn + SF Express | Various China plants | 2024-2025 | Not disclosed (Walker S1 training cohort) | Pilot active | Pilot (Chinese training) | Self-reported 'doubled efficiency in parts assembly' at BYD. Aggregate training across multiple sites. |
| Apptronik | GXO Logistics | Undisclosed US DC (lab phase) | 2024 | Not disclosed | Pilot active (lab) | Pilot/RaaS | Multi-phase deployment; not yet in live distribution center. |
| Apptronik | Jabil | Florida (Jabil sites) | 2025 (Feb) | Not disclosed | Pilot active | Pilot/RaaS | Apollo helps manufacture more Apollo units (robots-build-robots). |
| AgiBot | Internal + BYD (investor) + various Chinese OEMs | Shanghai factory + first industrial deployment Jul 2025 | 2024-2025 | 5,168 shipped in 2025 (self-claim) | Commercial sales (mostly R&D buyers) | Unit-sale | Company claims #1 humanoid shipper globally; customers largely R&D buyers, not production deployments. Not third-party verified. |
| UBTECH | Audi-FAW + FAW-VW + BAIC + Dongfeng Liuzhou | Various China plants | 2025 | Part of ~500 Walker S2 mass-production batch | Pilot active (training) | Pilot (Chinese training) | End-2025 order book RMB 800M (~$112M). First Audi production-line humanoid. |
| 1X Technologies | Early-access home customers | Norway + US homes | 2025 | Hundreds to thousands (self-claim) | Pilot active (teleoperated, not autonomous) | Consumer pilot | NEO Beta home pilots; $20K + subscription. Teleop disclosure was a controversy in Q4 2025 trade press. |
| 1X Technologies | EQT portfolio (300+ industrial companies) | Multi-site forward commitment | 2025 (Dec) | Up to 10,000 by 2030 | Announced | Forward commitment | Largest forward order to date in the humanoid sector; delivery 2026-2030. |
| Agility Robotics | Mercado Libre | San Antonio, TX | 2025 (Dec) | Not disclosed | Pilot active | Pilot/RaaS | Second named commercial customer for Agility; LatAm expansion planned. |
| Galbot | BAIC + CATL (industrial); unnamed retail | China retail + factories | 2025 | 'Thousands of industrial orders'; 'hundreds in retail' (self-claim) | Commercial purchase (claimed) | Unit-sale (claimed) | Spring Festival Gala 2026 appearance. Numbers from Chinese-press; hard to verify independently. |
| Fourier Intelligence | Multiple Chinese rehab hospitals | China (rehabilitation centers) | 2024-2025 | Not disclosed | Commercial sale (clinical equipment) | Unit-sale (healthcare) | Different category: stroke/gait rehab equipment, not industrial deployment. |
| Unitree Robotics | Open commercial (universities, research labs, dev kits) | Global | 2023-2025 | 5 (2023) → 410 (2024) → ~5,500 (2025) | Commercial sale | Unit-sale | Largest 2025 shipper by volume. H1 humanoid $90K, G1 humanoid $16K. Customers buy units outright; not pilot-based. |
| Tesla (reference) | Tesla (internal) | Fremont, CA + Giga Texas | 2024-2025 | Few hundred actual vs 5,000 target | Pilot active (internal only) | Internal-only | Battery sorting, parts handling. Production ramp delayed; Optimus V3 expected 2026. Reference row only (out of sector scope). |
| Boston Dynamics / Hyundai (reference) | Hyundai (HMGMA) | Ellabell, GA (Metaplant America) | 2025 announced → Jan 2026 live tests | Fleet (size undisclosed) | Pilot active | Captive (Hyundai subsidiary) | Atlas part-sequencing. Broader Hyundai purchase commitment is in tens of thousands. Reference row only (out of sector scope). |
Corporate Strategic Investors
Which tech giants and automakers are investing in humanoid robotics: NVIDIA, Microsoft, OpenAI, Amazon, Google, BMW, Mercedes, Hyundai.
| Investor | Country | Companies Invested In | Known Amounts | Strategic Rationale |
|---|---|---|---|---|
| NVIDIA (NVentures) | 🇺🇸USA | Figure AI, Skild AI, Agility Robotics | $50M (Figure), $25M (Skild) | GPU/compute infrastructure; Isaac GR00T platform; physical AI ecosystem |
| Microsoft | 🇺🇸USA | Figure AI | $95M+ (Series B); $1B+ (Series C participation) | Azure cloud; OpenAI partnership; LLM integration for robots |
| OpenAI | 🇺🇸USA | Figure AI, 1X Technologies | Undisclosed (multiple rounds) | AI foundation models for robotics; exploring own robot R&D |
| Google / Alphabet | 🇺🇸USA | Apptronik (CapitalG); Physical Intelligence (CapitalG) | $350M+ (Apptronik) | DeepMind Gemini Robotics; manufacturing automation |
| Amazon | 🇺🇸USA | Agility Robotics, Figure AI | $150M (Agility, via Industrial Innovation Fund) | Warehouse automation; supply chain efficiency; $1B Innovation Fund |
| Jeff Bezos (Expeditions) | 🇺🇸USA | Figure AI, Physical Intelligence, RIVR | $100M (Figure); $400M+ (Physical Intelligence); $22M (RIVR) | 70% of 2024 investments in AI/robotics |
| SoftBank Vision Fund | 🇯🇵Japan | Fourier Intelligence, Agility, Skild AI | $54.7M (Fourier); $1.4B (Skild Series C lead) | $5.4B ABB Robotics acquisition; diversified robotics portfolio |
| Samsung | 🇰🇷South Korea | 1X Technologies, Rainbow Robotics, Skild AI | 35% stake in Rainbow Robotics | Battery tech; collaborative robot dev; Future Robotics Office |
| Hyundai / Kia | 🇰🇷South Korea | Boston Dynamics (subsidiary) | Full acquisition ($880M, 2021); $26B US investment | Manufacturing automation; 30K Atlas units/year target by 2028 |
| BMW | 🇩🇪Germany | Figure AI (commercial partnership) | No disclosed equity; commercial agreement | Figure 02 deployed at Spartanburg; 90K+ parts loaded in pilot |
| Mercedes-Benz | 🇩🇪Germany | Apptronik | Part of $520M round | Apollo testing at Berlin factory; target widespread use by 2030 |
| John Deere | 🇺🇸USA | Apptronik | Part of $520M round | Agricultural/industrial humanoid use cases |
| Intel Capital | 🇺🇸USA | Figure AI | $9M (2023); Series B & C participation | Semiconductor supplier to robotics ecosystem |
| Tencent | 🇨🇳China | Unitree (Series C lead), AgiBot, UBTECH | Lead investor in Unitree Series C | Embodied AI strategy; Chinese humanoid ecosystem |
| Baidu | 🇨🇳China | AgiBot, Vita Dynamics | Multiple rounds (undisclosed) | AI model → robotics applications downstream play |
| BYD | 🇨🇳China | AgiBot | Co-investor | Testing humanoid robots in own EV factories; vertical integration |
| LG Electronics | 🇰🇷South Korea | AgiBot | Participation in funding rounds | Electronics/manufacturing partnership |
| Qatar Investment Authority | Qatar | Apptronik | Part of $520M round | Sovereign wealth diversification into robotics |
| AT&T Ventures | 🇺🇸USA | Apptronik | Part of $520M round | Telecom infrastructure for connected robotics |
Market Size Forecasts by Analyst
16 analyst forecasts for the humanoid robot market: from $4B (Grand View, 2030) to $7T (Citi GPS, 2050). Sorted by 2035 estimate.
| Firm | 2025 | 2030 | 2035 | 2050 | CAGR |
|---|---|---|---|---|---|
| Investment Banks | |||||
| Goldman Sachs (Blue Sky) | — | — | $154B | — | — |
| Macquarie | — | — | $139B | — | 50% |
| Goldman Sachs | — | — | $38B | — | — |
| Morgan Stanley | — | — | — | $5T | — |
| Citi GPS | — | — | — | $7T | — |
| Bank of America | — | $17K BOM | — | — | — |
| Research Firms | |||||
| ResearchAndMarkets | — | — | $243.4B | — | 49.2% |
| Future Market Insights | — | — | $181.9B | — | 37% |
| Roots Analysis | — | — | $104B | — | 47% |
| Yole Group | — | — | $51B | — | 55% |
| ABI Research | — | $6.5B | — | — | 138% |
| Grand View Research | $1.81B | $4.04B | — | — | 17.5% |
| Mordor Intelligence | — | — | — | — | 35.3% |
| BCC Research | — | $11B | — | — | 42.8% |
| Technavio | — | — | — | — | 48.9% |
| Counterpoint Research | 16K units | — | — | — | 69.7% |
Unit Shipment Projections
How many humanoid robots analysts expect to ship per year, plotted on a log scale (each gridline is 10x the last, so massive ranges fit on one chart). Forecasts vary 10x. Goldman Sachs sees 1.4M units by 2035 vs Morgan Stanley's 13M.
