Neura Robotics raises $1.4bn to build more humanoid robots

In short: German start-up Neura Robotics has raised $1.4bn to scale up its humanoid robot business.

What happened

Neura Robotics, a company founded in Germany in 2019, raised $1.4bn in new funding. People familiar with the deal said the round values Neura at about $7bn.

The investors include crypto group Tether, chip companies Qualcomm and Nvidia, and Amazon. The round also included Bosch, Schaeffler, the European Investment Bank, and investment firms Lingotto Horizon and Giano Capital.

Neura’s chief executive, David Reger, said the company wants to increase production of its humanoid robots from about 6,000 units this year to tens of thousands next year. The company says it has an order book of more than $1bn, which means customers have already placed orders or committed to buying robots.

Neura also plans to put money into its “Neuraverse” platform, which supports its robot software. It is also building digital “gyms” where robots can be trained using people wearing motion-capture suits, like the suits used in movie special effects. The idea is to record human movements for specific tasks, like pushing a button or placing a part on a factory line, then copy that skill to other robots.

Why it matters

Robots that can work in factories could help companies make more goods even when hiring is hard or costs are rising. Consultancy McKinsey estimates the humanoid robot market could reach €28bn by 2030, with early use focused on simple tasks. For everyday people, this could affect the price and availability of products, and it could also change what some factory jobs look like over time.

Source: Financial Times