Norwegian Robot Manufacturer, 1X Technologies, Raises US $23.5 Million in A2 Funding Round

03/28/2023 21:33 • NFT Newsflash • 120 views

According to reports, recently, Norwegian robot manufacturer 1X Technologies announced the completion of an A2 round of financing with a financing scale of US $23.5 million, led by OpenAI Venture Capital. Tiger Global and a consortium of Norwegian investors such as Sandwater, Alliance Ventures, and Skagerak Capital also participated in the investment. According to the introduction on the company’s official website, 1X, formerly known as Halodi Robotics, was founded in 2014 to produce robots capable of imitating human actions and behaviors. The company has over 60 people. 1X says its goal is to create robots with practical application value to increase the global workforce. It is reported that 1X intends to use this fund to increase the research and development efforts of its upcoming biped robot model NEO, as well as large-scale production of its first commercial robot EVE in Norway and North America.

OpenAI leads Norwegian Robotics 1X

Norwegian robot manufacturer 1X Technologies has recently announced the successful completion of an A2 round of financing, with a financing scale of US $23.5 million. The funding was led by OpenAI Venture Capital, alongside Tiger Global and a consortium of Norwegian investors such as Sandwater, Alliance Ventures, and Skagerak Capital.

Introduction to 1X Technologies

1X Technologies, formerly known as Halodi Robotics, was founded in 2014 with a goal to produce robots that can mimic human actions and behaviors. The company has over 60 employees and aims to create robots with practical application value to increase the global workforce.

Funding to Develop New Robot Models

According to reports, 1X Technologies intends to use this fund to increase the research and development efforts of its upcoming biped robot model, NEO. The company also plans to expand the large-scale production of its first commercial robot, EVE, in Norway and North America.

Understanding the Importance of 1X Technologies’ Funding

The recent funding round for 1X Technologies is significant for several reasons. Firstly, it shows a growing interest in the development of humanoid robots that can mimic human actions and behaviors. Such robots can be used in a variety of applications ranging from healthcare to logistics and manufacturing.
Secondly, the investment by OpenAI Venture Capital, alongside other reputable investors, highlights the potential of 1X Technologies’ technology in the market. OpenAI, which was founded by tech luminaries such as Elon Musk and Sam Altman, is a leading research organization focused on the development of artificial intelligence.
Lastly, the funding will enable 1X Technologies to invest in the research and development of new robot models, which will further enhance the capabilities of these robots and help them become more widely adopted in various industries.

Conclusion

Overall, the recent funding round for 1X Technologies is a significant development in the field of robotics. The investment by leading venture capital funds and Norwegian investors underscores the potential of the company’s technology to transform various industries. Furthermore, the funding will enable the company to invest further in the R&D of its upcoming models, which will bring us closer to realizing the potential of humanoid robots in the global workforce.

FAQs:

Q1. What is 1X Technologies?
1X Technologies is a Norwegian robot manufacturer that aims to produce humanoid robots capable of mimicking human actions and behaviors.
Q2. What is the funding scale of 1X Technologies’ recent A2 round?
1X Technologies’ recent A2 round of funding was for a financing scale of US $23.5 million.
Q3. What are the company’s plans for the funding?
According to reports, 1X Technologies plans to invest in the research and development of its upcoming biped robot model, NEO, and further scale the production of its commercial robot, EVE, in Norway and North America.

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