Figure Exceeds $1B In Series C Funding Led By Parkway Venture Capital

Figure AI raised over $1 billion in its Series C round, marking its largest funding to date. The round achieved a post-money valuation of $39 billion, a significant increase from the $2.6 billion valuation in its previous $675 million Series B in 2024. Parkway Venture Capital led the round, with substantial participation from Brookfield Asset Management, NVIDIA, Macquarie Capital, Intel Capital, Align Ventures, Tamarack Global, LG Technology Ventures, Salesforce Ventures, T-Mobile Ventures, and Qualcomm Ventures.

Figure AI, a San Jose-based developer of autonomous humanoid robots like the Figure 02, has positioned itself as a leader in AI robotics through this latest round. The funding underscores confidence in its ability to deploy robots for end-to-end tasks in manufacturing, logistics, and homes, building on partnerships like BMW and prior collaborations with OpenAI (now ended in favor of in-house development).

Strategic Implications

This capital injection enables Figure to accelerate from prototypes to mass production, targeting 100,000+ units in coming years. It also bolsters its competitive edge in a field where safety, adaptability, and cost-efficiency remain hurdles. CEO Brett Adcock highlighted the round’s role in unlocking “human-level intelligence” for robots, potentially disrupting sectors valued at trillions in global labor markets.

Investor Landscape

The diverse investor mix spans tech giants (NVIDIA, Intel), asset managers (Brookfield), and telecom/enterprise players (T-Mobile, Salesforce), signaling broad ecosystem buy-in. This follows high-profile backers like Microsoft and Jeff Bezos from prior rounds.

Figure AI’s Series C funding round represents a pivotal moment in the evolution of humanoid robotics, injecting over $1 billion into a sector poised to address chronic labor shortages while navigating intense technological and competitive pressures. Founded in 2022 by Brett Adcock, Figure has rapidly scaled from a startup with a focus on general-purpose robots to one of the most highly valued private companies in AI hardware, now at a $39 billion post-money valuation. This round not only triples the company’s total funding to nearly $2 billion but also amplifies its ambitions to deploy robots capable of autonomous tasks ranging from warehouse operations to household chores like dishwashing and grocery unpacking.

Funding Details and Timeline

The Series C round was formally announced via a press release, exceeding initial targets discussed earlier in the year. Negotiations reportedly began in February 2025, when Bloomberg first reported talks for up to $1.5 billion at a $39.5 billion valuation, led by Align Ventures and Parkway Venture Capital. By April, secondary market buzz positioned Figure’s stock as the most sought-after private asset, surpassing SpaceX and OpenAI in demand. The final structure settled at over $1 billion committed, with Parkway Venture Capital taking the lead role. This conservative amount relative to early rumors may reflect a strategic pivot toward efficient capital deployment amid market volatility, though it still catapults Figure’s valuation 15-fold from its $2.6 billion mark after the 2024 Series B.

For context, Figure’s funding trajectory has been aggressive:

This table illustrates the exponential growth, driven by milestones like the Figure 02 robot’s commercial viability—standing 5’6″ tall, capable of 20kg payloads, 5-hour runtime, and 1.2 m/s speeds on an electric system.

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Investor Composition and Strategic Alliances

The round’s backers form a robust coalition, blending deep-tech expertise with infrastructure-scale capital. Parkway Venture Capital’s leadership brings venture acumen honed in AI and mobility, while Brookfield Asset Management contributes global asset management muscle for scaling manufacturing. Tech heavyweights like NVIDIA and Intel Capital signal hardware synergies, particularly for GPU-accelerated training of Figure’s Helix AI platform, which powers robot perception, reasoning, and control. Other notables include:

• Macquarie Capital: Focus on infrastructure and energy transitions, aligning with Figure’s electric systems.
• Align Ventures and Tamarack Global: Repeat investors from prior rounds, emphasizing continuity in AI robotics bets.
• LG Technology Ventures: Marking LG’s third robotics investment in 2025, following Series B participation; this deepens ties for consumer electronics integration.
• Salesforce Ventures, T-Mobile Ventures, Qualcomm Ventures: Enterprise and connectivity plays, hinting at future B2B deployments in retail and logistics.

Notably, while Microsoft and Bezos participated in Series B, their involvement here is unconfirmed, possibly shifting focus to in-house AI after Figure ended its OpenAI collaboration in early 2025. This self-reliance, as Adcock noted on X, avoids “cumbersome” external dependencies, prioritizing proprietary models trained on real-world human video and sensor data.

Allocation of Proceeds and Operational Roadmap

Figure plans to allocate funds across three core pillars, as outlined in its announcement:

1. Manufacturing Scale-Up (BotQ Facility): Expanding production in Sunnyvale, California, to support deployments with commercial partners like BMW (for automotive tasks) and a second unnamed customer. Goals include 100,000 units by 2027-2029, per earlier projections, targeting warehousing, retail, and home use.
2. AI Infrastructure Enhancement: Building next-gen NVIDIA GPU clusters to train Helix, Figure’s end-to-end AI system. This addresses key challenges in dynamic environments, such as climbing stairs or using tools, by ingesting multimodal datasets (video, tactile, auditory).
3. Data Ecosystem Expansion: Doubling down on collection efforts for human-like dexterity, essential for 100% autonomy. Real-world pilots will generate proprietary data, improving safety and efficiency over single-function robots.

These initiatives position Figure to tackle repetitive, hazardous tasks—echoing the “biggest innovation since the dishwasher,” as per its site—while mitigating risks like regulatory scrutiny on AI ethics and job displacement.

Broader Market Dynamics and Competitive Positioning

The funding arrives amid a robotics renaissance, fueled by AI advancements and post-pandemic labor gaps. PitchBook data shows U.S. startup investments reaching near-record highs in H1 2025, up 75.6%, with AI robotics capturing disproportionate shares. Figure’s human form factor—leveraging hands for tools and legs for mobility—differentiates it from specialized bots, aiming for versatility across manufacturing (e.g., lifting boxes), logistics, and homes.

Yet, the landscape is crowded: Tesla’s Optimus targets similar autonomy, Meta explores embodied AI, and Nvidia backs multiple players. Figure’s edge lies in its 100+ years of combined team expertise and early commercial traction, but skeptics note unproven mass scalability and high R&D costs. Secondary market pricing at $174 per share reflects hype, but long-term success hinges on demonstrating ROI in pilots.
This round cements Figure’s trajectory toward ubiquitous humanoid deployment, blending audacious engineering with pragmatic funding. As Adcock stated, it’s “critical to unlocking the next stage of growth,” potentially redefining labor in an AI-first world.

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