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 Collection C funding spherical that values the corporate at $39 billion. The spherical, which “exceeded $1 billion,” stated Determine, was led by Parkway Enterprise Capital with participation from Brookfield Asset Administration, Nvidia, and Intel Capital, amongst others.
Determine stated the funding can be used to scale the corporate’s fleet of humanoid robots, construct the mandatory infrastructure to speed up robotic coaching, and launch superior information assortment efforts.
The corporate has raised practically $2 billion in funding since its 2022 founding.
Earlier this yr, Determine CEO Brett Adcock claimed that Determine was essentially the most “sought-after” inventory on the personal 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 approved to promote its shares.
TechCrunch has reached out to Determine for remark.
