Oslo-based 1X Technologies, an engineering and robotics company producing androids capable of human-like movements and behaviours, announced on Thursday, March 23, that it has raised $23.5M (nearly €21.8M) in a Series A2 round of funding.
The OpenAI Startup Fund led the round, with participation from Tiger Global and a group of Norway-based investors, including Sandwater, Alliance Ventures, and Skagerak Capital.
Arne Tonning, Partner, Alliance Venture, says, “Demographic changes will cause a labour shortage, and androids could help fill the gap. Goldman Sachs predicts a $150B market potential in 2035. Solving the right use cases is key to success, and we believe 1X Technologies is constructing a winning alliance.”
About 1X Technologies
Founded in 2014 by Bernt Øivind Børnich and Nguyen Ho Quoc Phuong, 1X is an engineering and robotics company that aims to create robots with practical, real-world applications to augment labour globally.
The company has over 60 employees globally and produces androids that are capable of human-like movements and behaviours.
Earlier this month, 1X announced its rebranding from Halodi Robotics. The company says its development and future goals are hinted at by the name 1X, which also represents the team’s distinctive automation expertise.
Børnich says “Our androids will eventually work among people, one by one. And unlike other androids that have to slow down to be functional, 1X’s models work at 1x speed. We’re excited to embark on this new chapter, and we look forward to continuing to provide industry-leading products and services under our new brand.”
Capital utilisation
1X says it will use the funds to accelerate building its upcoming bipedal android model NEO and scale up production of its first widely available android EVE in Norway and North America.
Bernt Øyvind Børnich, founder of 1X Technologies, says, “Deploying our wheeled android EVE at an unprecedented commercial scale gives us a unique understanding of the challenges and opportunities the robotics community has yet to address. If androids are going to work in our world, they need to experience our world.”
“With the support of our investors, we will continue to make significant strides in the field of robotics and augment the global labour market,” adds Børnich.
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