Apptronik Secures $935 Million in Extended Series A, Valuation Soars Past $5 Billion

Apptronik, a humanoid robotics company born from the University of Texas, announced Wednesday it has raised a total of $935 million in an expanded Series A funding round. While the company did not publicly state its valuation, sources indicate it now stands at approximately $5.3 billion.

The round represents a significant escalation. A year ago, Apptronik announced a $350 million Series A, later expanded to $415 million due to investor demand. The latest infusion of $520 million came from existing backers Google, Mercedes-Benz, and B Capital, plus new participants. Notably, share prices increased with each extension, putting the company's valuation at nearly triple its initial $1.75 billion mark.

Why not designate this a Series B? Company sources indicate Apptronik is still in a development phase and was not formally fundraising; the capital came from unsolicited investor interest. For a firm building complex bipedal robots—a notoriously capital-intensive endeavor—such a substantial offer was compelling. The move mirrors activity across the sector, where competitors like Figure AI have also secured billions.

Apptronik's appeal lies in its partnerships and technology. It is working with Google DeepMind, GXO, and Mercedes-Benz to develop what experts term 'embodied AI'—robots that interpret their surroundings and act with reasoning, not just pre-programmed steps. Its Apollo robot is designed for logistics and manufacturing roles, such as unloading trailers and warehouse picking.

The company's roots run deep. Its technical foundation dates to 2013, when University of Texas researchers, including future Apptronik team members, competed in the NASA-DARPA Robotics Challenge with a robot named Valkyrie. NASA remains a partner as Apptronik prepares Apollo for commercial use.

Source: TechCrunch