We're thrilled to be a part of 1X Technologies' latest funding round alongside other great investors such as OpenAI, Tiger Global, Sandwater, and Alliance Ventures.
The creators of ChatGPT are heavily investing in a Norwegian robotics company. 1X Technologies (formerly Halodi Robotics) has raised 244 million Norwegian kroner in a funding round led by OpenAI and the famous VC fund Tiger Global. The startup from Moss is working closely on a classic futuristic concept and developing robots that resemble humans. Last year, 1X Technologies, as the company is now called after a recent name change from Halodi Robotics, for example, entered into an agreement to produce 140 so-called humanoid robots to be used as security guards in the United States.
Since then, founder and CEO Bernt Øivind Børnich has spent a lot of time on the other side of the Atlantic and has acquired several exciting acquaintances in the process. Now the company is ready to move up a division, having raised $23.5 million, equivalent to 244 million Norwegian kroner in growth capital. The main investor is likely the most talked-about company in the tech world so far this year: OpenAI.
In addition to OpenAI, the world-famous investment fund Tiger Global has also invested.
"We believe that 1X's androids are revolutionizing the robotics field and are excited to invest alongside OpenAI to support their continued growth," says Tiger partner Griffin Schroeder.
A handful of Norwegian investors are also injecting capital into this round, including Sandwater, Alliance Ventures, and Skagerak Capital.
The parties have not commented on the price tag placed on 1X. The last time the company raised money was in May 2021 when they raised 86 million Norwegian kroner at a valuation of 597 million Norwegian kroner. The investors were Valinor, Autostore founder Jacob Hatteland, and the US security company ADT Commercial, which is the company that ordered the aforementioned security guard robots.
The Norwegian company, which was founded in 2014, plans to use the money to build a new robot called Neo and scale production of the already available robot Eve in Norway and North America. Founder and CEO Bernt Øivind Børnich believes that 1X and OpenAI share visions, citing that both companies aim to integrate emerging technologies into people's everyday lives.
"With the support of our investors, we will continue to make significant advances in robotics and strengthen the global labor market," Bernt Øivind Børnich says
1X's approach to creating humanoid robots represents a unique and sustainable long-term strategy. The company aims to first start to deploy Androids in North America before entering the global market, while maintaining a "safety first" mindset, making product design and development even more challenging. It is exciting for Skagerak to support 1X with their disruptive technology for helping mankind now that they enter this ambitious commercialization phase."
Espen Kjeldsen, Partner, Skagerak Capital.
Read the original article here: https://www.shifter.no/nyheter/chatgpt-skaperne-investerer-tungt-i-norsk-robotselskap/274924