Norwegian Robot Manufacturer 1X Technologies Raises $23.5M in A2 Round of Financing

03/28/2023 21:33 • Blockchain Briefs • 137 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

Introduction

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.

Background

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, and their goal is to create robots with practical application value to increase the global workforce.

Biped Robot Model NEO

It is reported that 1X intends to use this fund to increase the research and development efforts of its upcoming biped robot model NEO. The NEO robot is designed to walk and balance on two legs and have human-like dexterity. The development of biped robots has been slow, and there is a need for more advanced technology for these kinds of robots to be widely used in industry. 1X aims to bridge that gap with the NEO robot.

First Commercial Robot EVE

1X also plans to use the investment to facilitate the large-scale production of their first commercial robot EVE in Norway and North America. EVE is a mobile manipulator robot that can navigate complex spaces, complete tasks and interact with its environment. The robot is designed to be easy to use and program, so it can be used by those without advanced technical skills.

Benefits of Investing in 1X Technologies

Investing in 1X Technologies can be a lucrative opportunity for investors who want to participate in the development of advanced robotics technology with practical applications. This investment round shows that 1X Technologies has gained the trust of some of the most well-known and reputable investment firms in the world.

Future Implications

As robotics technology advances, there are limitless possibilities for the practical application of these innovations. 1X Technologies aims to be at the forefront of this new age of technology, and investors in this company have the potential to reap immense rewards from investing in a company with such potential for growth.

Conclusion

The completion of an A2 round of financing with a financing scale of US $23.5 million is a significant achievement for 1X Technologies. Their focus on developing an advanced biped robot model NEO and a mobile manipulator robot EVE is a positive indicator of the company’s commitment to creating practical robots that can increase the global workforce. Investors in 1X Technologies can look forward to a potentially lucrative investment opportunity.

FAQs

1. What is the goal of 1X Technologies?
1X Technologies’ goal is to create robots with practical application value to increase the global workforce.
2. What is the NEO robot?
The NEO robot is 1X’s upcoming biped robot model designed to walk and balance on two legs and have human-like dexterity.
3. What is the EVE robot?
The EVE robot is 1X’s first commercial robot designed to be a mobile manipulator robot that can navigate complex spaces, complete tasks and interact with its environment.

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