Robotics Startup Physical Intelligence Valued at $5.6 Billion in New Funding

Physical Intelligence, a startup developing artificial intelligence software to help robots learn a wide range of tasks, has raised $600 million in a new round of funding that values the company at $5.6 billion, according to people with knowledge of the matter.

Alphabet Inc.’s independent growth fund CapitalG led the round, with participation from existing investors Lux Capital, Thrive Capital and Amazon.com Inc. founder Jeff Bezos, said the people, who asked not to be identified discussing private information. Index Ventures and T. Rowe Price were among the new investors who participated, the people said. The startup’s valuation includes the money raised.

Physical Intelligence, Thrive, T. Rowe Price, Index and Lux declined to comment. CapitalG confirmed its participation in the round. A representative for Bezos did not immediately respond to a request for comment. The Information previously reported some details of the round.

With recent advances in AI, investors and tech leaders have shown renewed interest in betting on robotics, including machines that look and act more like humans. Other startups, including Figure AI Inc., Skild AI Inc. and Agility Robotics Inc., have raised large sums from venture investors. Google DeepMind, Apple Inc. and Meta Platforms Inc. are also exploring robotics initiatives.

Physical Intelligence was founded in 2024 by former Google DeepMind researchers as well as academics from Stanford University the University of California at Berkeley. Physical Intelligence aims to build a general intelligence, or so-called brain, that can “power any robot or any physical device basically for any application,” as Chief Executive Officer Karol Hausman previously told Bloomberg News.