QualityStocksNewsBreaks – Apptronik Raises $520 Million to Scale Apollo Humanoid Robots, CNBC Reports
Apptronik, an Austin-based humanoid robotics developer, has raised $520 million at a $5 billion valuation to accelerate commercialization of its Apollo humanoid robots, according to a CNBC report by Lora Kolodny. The funding round, which brings the company's Series A financing to $935 million, was co-led by B Capital and Google and will support expanded operations, increased robot production and new facilities in Texas and California. Apollo robots are currently being tested in factory and warehouse environments with partners including Mercedes-Benz, GXO Logistics and Jabil. The report notes that Apptronik is competing with a growing field of humanoid robotics companies, including Tesla (NASDAQ: TSLA), Figure, Agility Robotics, 1X and…