1X Strikes Deal to Send Humanoid Robots to Factories and Warehouses
However, this deal is quite different from what the company initially marketed its humanoid robots for. 1X, a robotics company, has struck a deal to send its ‘home’ humanoids to factories and warehouses.
Moreover, the company announced a strategic partnership with EQT, a large Swedish multi-asset investor, to make thousands of its humanoid robots available for EQT’s portfolio companies.
Details of the Partnership
According to the deal, 1X will ship up to 10,000 of its 1X Neo humanoid robots between 2026 and 2030 to EQT’s more than 300 portfolio companies.
Consequently, this partnership is particularly interesting because 1X’s Neo has been marketed as a humanoid for personal use, unlike some of its peers.
Why the Shift in Focus?
However, the company has a robot designed for industrial purposes, Eve Industrial, but this deal specifically involves the Neo humanoid.
Meanwhile, the $20,000 price tag of the Neo robot automatically limits the potential pool of consumer customers, making industrial use cases an easier sell.
Challenges and Concerns
However, humanoids also come with potential safety issues around pets and small children due to their size and instability.
Therefore, multiple VCs and scientists in the robotics field told TechCrunch this summer that humanoid adoption wouldn’t be for multiple years, if not a decade away.
Consequently, the company declined to share how many preorders it received for its Neo bot but a spokesperson said preorders “far exceeded” the company’s goal.
About 1X
Founded in 2014, 1X has since raised more than $130 million in venture capital from firms, including EQT Ventures, Tiger Global, and the OpenAI Startup Fund, among others.
Moreover, the company has a strong track record of innovation in the robotics field, with a focus on developing humanoid robots for various use cases.
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