The tech world is buzzing with excitement as 1X Technologies, a Norwegian-founded humanoid robotics company, has raised a whopping $100M in Series B funding.
The round saw participation from Swedish VC EQT Ventures, Samsung NEXT, and existing investors Skagerak Capital and the Nistad group.
Founded by Bernt Øyvind Børnich, 1X Technologies aims to design androids that seamlessly collaborate with humans to meet the global labour demand and foster an abundant society. The company has made significant strides in the fields of security and logistics, and with this fresh funding, it's set to make a significant leap into the consumer market.
The company plans to use the new capital to bring its second-generation Android NEO into our homes. NEO, a bipedal humanoid, is designed for everyday home assistance and can perform a wide range of domestic tasks. It's safe, user-friendly, and its body is engineered with muscle-like anatomy instead of rigid hydraulics, making it strong yet gentle.
While NEO can be used in sectors like security, logistics, and manufacturing, its long-term vision is to provide valuable home assistance and perform chores like cleaning or organising. 1X is also exploring how NEO can offer support to individuals with mobility challenges, fetch items, and provide companionship.
The launch of NEO will make it a rival to Elon Musk’s Tesla Bot, which is also designed to do dangerous, repetitive, or boring work that humans don’t like or want to do. However, with NEO on a fast track to market release, 1X Technologies is set to tap into the domestic market soon.
With over $125M raised in less than 12 months, 1X Technologies is on a mission to introduce a reliable and practical android into everyday life. So, buckle up and get ready to welcome a new member into your home – an android!
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