Humanoid robotics firm Determine raised its largest spherical of funding but, an indication of rising investor curiosity in robots designed to work alongside people in warehouses, factories, and different settings.
San Jose, California-based Determine introduced on Tuesday that it raised a Sequence C funding spherical that values the corporate at $39 billion. The spherical, which “exceeded $1 billion,” mentioned Determine, was led by Parkway Enterprise Capital with participation from Brookfield Asset Administration, Nvidia, and Intel Capital, amongst others.
Determine mentioned the funding can be used to scale the corporate’s fleet of humanoid robots, construct the required infrastructure to speed up robotic coaching, and launch superior information assortment efforts.
The corporate has raised almost $2 billion in funding since its 2022 founding.
Earlier this 12 months, Determine CEO Brett Adcock claimed that Determine was probably the most “sought-after” inventory on the non-public market. However the firm has additionally been sending cease-and-desist letters to a number of secondary inventory market brokers, telling TechCrunch in April that it sends such letters when a dealer isn’t licensed to promote its shares.
TechCrunch has reached out to Determine for remark.
{content material}
Supply: {feed_title}