Apptronik, a Texas-based robotics company and emerging competitor to Tesla’s robotics efforts, announced a $350 million Series A funding round on Thursday morning. The round was co-led by B Capital and Capital Factory, with significant backing from Google, as revealed by CEO Jeff Cardenas during a “Squawk Box” interview.
Founded in 2016 and having previously raised $28 million, Apptronik is now focused on developing its innovative industrial humanoid robot, Apollo. Cardenas explained that the infusion of capital will enable the company to broaden its artificial intelligence-driven robotics development. He highlighted that advancements in AI are making robots far more adaptable, paving the way for their gradual integration from industrial environments into everyday homes.
The new funding is set to propel the company’s efforts in creating robots that can be applied across various sectors such as manufacturing and healthcare. Initially, these robots will be programmed to master repetitive tasks independently before they begin interacting with human environments.
In addition to its own development initiatives, Apptronik has established strategic partnerships with NASA and Nvidia to push the boundaries of humanoid robotics technology. The company has already created 15 robotic systems, including NASA’s Valkyrie, and is now on its ninth iteration of a human-like robot. Cardenas mentioned that the long-term goal is to bring the cost of these advanced robots down to less than the price of a car, making them increasingly accessible over time.
Moreover, Apptronik is collaborating with Google DeepMind to refine the AI that powers its robotics systems—a move that further positions the company in a competitive market. While Tesla is also making strides with its Tesla Optimus project, industry estimates by Goldman Sachs suggest that the global market for humanoid robots could grow to $38 billion by 2035. Cardenas expressed confidence in Apptronik’s prospects, noting that the latest funding round reflects strong investor belief in their ability to lead this technological race.
