1X Technologies, an Oslo-based company specializing in AI and robotics, has successfully secured $100 million (approximately €91.14 million) in a Series B funding round. This significant investment follows the company’s $23.5 million Series A2 funding in March 2023, bringing its total funding to over $125 million in less than a year.
The Series B investment was led by Stockholm-based EQT Ventures, along with other notable global investors. Ted Persson, Partner at EQT Ventures, expressed excitement about the potential of humanoid robots, a concept that has fascinated humanity for over 500 years. He believes that 1X, with its NEO androids, will play a crucial role in the technological and human future.
Launching the Second-Generation Android NEO
1X Technologies plans to use the funds to launch its second-generation Android, NEO, designed for home assistance and consumer tasks. NEO is expected to cater to a wide range of consumer market tasks and support enterprise clients in logistics and security. The company is positioning itself as a leader in AI robotics, focusing on safety and embodied learning for data collection.
CEO’s Vision for Androids in Society
Bernt Øivind Børnich, CEO of 1X, shared his enthusiasm for the support from leading investors. He emphasized the company’s mission to safely deploy Androids with Smart Behavior into new markets and scale their data collection strategy for Embodied AI. Børnich also highlighted the upcoming consumer offering of NEO.
About 1X Technologies
Founded in 2014 by Bernt Øivind Børnich and Nguyen Ho Quoc Phuong, 1X specializes in designing androids that collaborate with humans, addressing global labor demands. The company’s products are inspired by human nature, both inside and out, and aim to serve society by experiencing the world.
NEO’s Capabilities and Future Potential
NEO, featuring muscle-like anatomy instead of rigid hydraulics, combines strength with gentleness. It can walk, jog, climb stairs, and navigate spaces naturally. NEO excels in industrial tasks such as security, logistics, manufacturing, and operating machinery. Its potential extends to home assistance, research contributions, and showcasing possibilities for assistance, productivity, and learning.
Advancing Humanoid Robotics
1X Technologies’ Series B funding round marks a significant advancement in the field of humanoid robotics. With the development and launch of NEO, the company is set to make a substantial impact in both consumer and enterprise sectors, contributing to the fields of AI and robotics.