Robot AI startup Physical Intelligence raises $400 million from Jeff Bezos, OpenAI

Physical Intelligence, a startup focused on developing fundamental software for robots, announced on Monday it secured $400 million in early-stage funding. The funding round included prominent investors such as Amazon founder Jeff Bezos, OpenAI, and venture capital heavyweights Thrive Capital and Lux Capital. The company’s valuation following this investment stands at an impressive $2 billion, as reported by PitchBook.

The startup’s ambitious goal is to create software adaptable across various robots, removing the current need for bespoke software for individual robotic tasks. This innovative approach has the potential to set a new standard in the robotics industry, enabling more versatile and efficient automation.

The move comes amid a surge in investment by tech giants including Microsoft, Google, Meta, Amazon, and Nvidia, all vying to leverage advancements in artificial intelligence.

Physical Intelligence’s efforts are part of a growing trend in the AI-driven robotics sector. Other companies making waves in this space include Universal Robots, Seegrid, Covariant, and Vicarious, which was acquired by Alphabet-owned Intrinsic in 2022.

Elon Musk has also highlighted the rapid evolution of robotics, predicting the production of at least 10 billion humanoid robots priced between $20,000 and $25,000 each by 2040. Tesla recently showcased the latest version of its Optimus humanoid robot during the Robotaxi event, underscoring the industry’s momentum.

Last week, Physical Intelligence published a paper detailing the capabilities of its flagship software, known as π0 or pi-zero. The software demonstrated a range of complex tasks performed by robots, including folding laundry, bagging groceries, and retrieving toast from a toaster, showcasing its versatility and potential to revolutionise everyday automation.