Report: Humanoid Robotics Firm 1X Seeking Up to $1B at a Valuation of $10B or More

Norwegian humanoid robotics company 1X Technologies is reportedly seeking to raise as much as $1 billion in a new funding round that would value the company at $10 billion or more, according to a recent report from The Information. The ambitious target, if met, would represent a more than twelve-fold increase over its previous valuation and mark one of the largest private funding rounds in the rapidly expanding humanoid robotics sector.

The report, based on information from three sources who spoke with CEO Bernt Børnich, indicates that the company has communicated this goal to both investors and employees. This move underscores the intense capital race heating up among leading humanoid developers as they push to transition their prototypes from the lab to real-world applications.

A Steep Climb in Valuation

A $10 billion valuation would be a significant leap for 1X, which last raised $100 million in a Series B round in January 2024. That round, led by EQT Ventures with participation from OpenAI and others, brought the company's total funding to approximately $125 million and established it as a key player. The reported new fundraising target suggests a dramatic acceleration in investor expectations, fueled by recent advances in AI and a growing belief that general-purpose humanoid robots are becoming commercially viable.

Founded in 2014 as Halodi Robotics, 1X has distinguished itself with a focus on creating safe, consumer-facing androids. Its strategy contrasts with competitors like Figure AI or Tesla, which have largely emphasized industrial and logistics applications. The company's wheeled EVE robot has already been deployed in security and logistics roles, while its bipedal humanoid, NEO, is designed for domestic environments.

Context in a Competitive Field

The potential $1 billion fundraise places 1X in the same league as its most well-capitalized peers. Its competitor, Figure AI, recently secured over 1 billion USD in funding at a much higher valuation of $39 billion. This influx of capital across the industry is seen as essential for tackling the immense challenges of humanoid robotics, which include scaling manufacturing, collecting vast amounts of real-world data for AI training, and ensuring the robots can operate safely and reliably around people.

For 1X, the new capital would likely be used to accelerate the production of its NEO robot and support its plan to deploy units into homes for data gathering and learning. The company's vision, often articulated by Børnich, is for its robots to learn and adapt through direct interaction in human environments.

While 1X has not officially confirmed the fundraising effort, the report aligns with the broader industry trend of high-stakes investment as companies vie for a leading position in what could become a transformative technology market.