Norwegian firm 1X


The race to perfect humanoid robotics in 2024 is shaping up to be a defining tech story, and one name that has been quietly making waves is 1X. After making headlines with a $23.5 million funding round in April, the Norwegian company is back in the spotlight with a significant Series B, raising an additional $100 million. This brings 1X's total funding to an impressive $125 million.


While Tiger Global made notable contributions in the earlier round, it's EQT Ventures that is taking top billing in the Series B, overshadowing OpenAI, which led the previous investment. The involvement of these high-profile backers underscores the significance of 1X's mission in shaping the future of humanoid robotics.


At the heart of 1X's ambitious endeavors is NEO, the humanoid robot that aims to address global labor shortages. The rationale behind humanoid robots is rooted in the belief that they are the optimal form factor for navigating environments designed by and for humans. Although this concept has gained traction, it has also faced skepticism, with critics arguing that such systems are over-engineered and that true general-purpose functionality is farther off than proponents claim.


1X's approach is bolstered by its utilization of generative AI, a technology that has witnessed stratospheric growth, largely driven by OpenAI's advancements. Generative AI plays a crucial role in overcoming challenges associated with humanoid robotics, potentially propelling these machines closer to widespread adoption.


CEO Bernt Øivind Børnich acknowledged the significance of the dedicated team behind 1X, stating, "This is the first time we are able to offer a payout to our dedicated team. Their contributions have been pivotal to our success." The substantial funding will not only recognize the team's efforts but will also fuel the company's initiatives.


The funds will be allocated toward the development of NEO, enhancing the company's Embodied AI offering, and facilitating the go-to-market strategy for their humanoid robot. As 1X continues to make strides in the competitive landscape of humanoid robotics, its well-funded journey promises to contribute significantly to the evolution of robotics technology. The latest funding round marks a pivotal moment for 1X, as it positions itself to play a key role in reshaping industries and addressing real-world challenges with innovative humanoid solutions.