Startup Trends: 3 up-and-coming robotics companies
The substantial research and development in humanoid robotics are fueling growth within the sector. In 2023, the global market value of robotics firms reached $71.2 billion and is expected to climb to $286.8 billion by 2032, according to market research firm Statzon.
Three robotics companies appear to have made some major innovations within recent months that could potentially add value to their firms in the near term.
Miso Robotics’ “Flippy 2” Gets an Upgrade
Miso Robotics, a Pasadena, California-based private company, manufactures AI-enabled robots that assist chefs and food preparers in restaurants. Miso’s robots do anything from grilling to frying to final food and beverage assembly in commercial kitchens.
The private company rolled out its next-generation robot named “Flippy 2” in 2022 to automate the process of deep-frying French fries, onions, and other foods. Miso Robotics announced in January the latest version of “Flippy 2” – now called the “Flippy Fry Station” – which is half the size of its predecessor, nearly twice as fast in food preparation, more reliable, and installs in just a few hours. The fast-food chain White Castle served as a collaborator on the project. The robots have been tested in other major restaurants such as Jack in the Box and CaliBurger.
Founded in 2016, Miso Robotics’ latest price per share was $10.05 from its last funding round in November of 2022, giving it a post-money valuation of $492.87 million. The firm’s investors include Acadia Research Corporation, Future Vc, Hanfield Venture Partners, and Crowdcube.
Agility Robotics Signs on New Partners
Meanwhile, Agility Robotics, a Salem, Oregon-based private company, has been creating bipedal humanoid robots for businesses to aid in logistics, manufacturing, and retailing. In 2023, the firm started testing its two-legged robot named “Digit” with Amazon to help lift and move inventory within its warehouses.
The robotics company announced in late 2024 a partnership with the motion technology company Schaeffler Group to provide robots to Schaeffler’s global network of plants. The deal followed a multi-year agreement announced with GXO, a worldwide supply chain and logistics company, to provide robotics programs.
Agility Robotics’ price per share is $29.49 based on its latest funding round in November 2024, giving it a post-money valuation of $957.24 million and just shy of “unicorn” status.
Founded in 2015, the private company’s investors include Amazon, AJI Capital, Bossa Invest, and TDK Ventures.
Figure AI Launches New Center on Safety
Sunnyvale, California-based Figure AI aims to automate the labor processes using its robotics programs. According to its website, the firm’s autonomous technology can be used for volume manufacturing, human-like system hardware, and intelligent embodied agents.
The firm announced last week the development of its Center for the Advancement of Humanoid Safety. The company claims the center is needed as more and more robotics programs are used around human workers, presenting potential hazards within shipping and warehousing centers. The firm plans to test safety features and issues within these workplaces and share quarterly findings with its customers and the public.
Founded in 2019, Figure AI’s Forge Price™ is $17.10 as of January 29, 2025, implying a valuation of $3.36 billion. Its investors include Ark Invest, Big Sky Partners, Tamarack Global, and Samsung Ventures.
