November 6, 2024
Physical Intelligence, a robotics startup developing software for AI-driven robots, has secured $400 million in early-stage fundingfrom prominent backers, including Amazon founder Jeff Bezos, OpenAI, Thrive Capital, and Lux Capital.
With this funding, the company is now valued at $2 billion, according to data from PitchBook. Physical Intelligence aims to create universal software that works across various robotic applications.
This “universal” approach could significantly reduce the time and resources required for robotics deployment, making advanced capabilities more accessible across sectors.
The startup’s software, known as π0 or “pi-zero,” is designed to perform complex tasks on different robots without the need for customization or specialized programming.
In a recent research paper, Physical Intelligence demonstrated π0’s capabilities through tasks like folding laundry, bagging groceries, and carefully removing toast from a toaster.
While these tasks may seem simple, they require precise control and an ability to adjust to different environments.
The investment in Physical Intelligence follows a broader trend in the AI industry, where tech giants like Microsoft, Google, Meta, Amazon, and Nvidia are heavily investing in artificial intelligence.
According to venture capital firm Accel, funding in AI and cloud technologies across the United States, Europe, and Israel will reach $79.2 billion by the end of 2024.
Physical Intelligence joins a growing field of robotic AI companies, including startups like Vicarious—acquired by Alphabet’s Intrinsic in 2022—and Universal Robots, Seegrid, and Covariant.
The potential for universal robotics has sparked significant interest, with industry leaders like Elon Musk predicting a future with up to 10 billion humanoid robots by 2040, priced between $20,000 and $25,000.
Tesla has already demonstrated advancements in humanoid robotics, a move that is fueling interest in adaptable robotics software like that of Physical Intelligence.
With its recent funding, Physical Intelligence can now continue developing π0 and transform the use of robots across multiple sectors.
Omneya Nabil is the chief content officer and managing partner at Zulu7. In addition to serving as a content designer and consultant, she manages her own content experience agency, ONO Comms. Over the past 18 years, Omneya has helped 75+ brands in the EMEA region connect with their customers through content, brand stories, and media campaigns. Her customers included Coca-Cola, Procter & Gamble, Nestle, Orange, Sanofi Aventis, and ITWORX.
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