In a groundbreaking move towards turning sci-fi fantasies into reality, Oslo-based company 1X Technologies, backed by OpenAI and Tiger Global, has announced a record-breaking $100 million investment in its Series B funding round. With this substantial backing, the company is gearing up to propel the development of its second-generation android, NEO, bringing humanoid robots capable of household tasks one step closer to mainstream use.
Backers and Investors:
1X Technologies, with previous backing from OpenAI and Tiger Global, further solidified its position in the AI and robotics industry with a remarkable $100 million investment in its Series B round. Leading the round is Sweden’s EQT Ventures, with participation from global investors including Samsung NEXT, Skagerak Capital, and Nistad Group.
Focus on NEO Android:
The newly secured funding will be pivotal in advancing the development of NEO, 1X’s second-generation android. The company aims to bring to life robots capable of undertaking household tasks, envisioning an “android safe to work among people.” This marks a significant leap towards bridging the gap between futuristic fantasies and practical applications in our daily lives.
Addressing Robotics and Workers’ Rights:
As robots become increasingly integrated into workplaces, concerns about workers’ rights have surfaced. 1X is cognizant of these concerns and emphasizes the safe deployment of androids with smart behavior. The company aims to address the ethical considerations surrounding robotics in the workplace while providing innovative solutions for everyday tasks.
Industry Impact and Transformative Potential:
With an overall backing of $125 million in less than 12 months, 1X Technologies is poised to play a transformative role in shaping the intersection of technology and human experience. EQT Ventures’ Ted Persson notes that the impact of androids joining the human workforce, on our terms, will be transformative. The development of NEO androids is seen as a pioneering step towards a technologically advanced future.
OpenAI’s Role and Recent Developments:
OpenAI, a significant investor in 1X, has witnessed a surge in interest in ChatGPT throughout 2023. The generative AI software, which powers 1X’s developments, has seen practical applications in various industries. OpenAI’s recent release of an app marketplace for ChatGPT reflects the growing adaptability of open-source AI elements. Independent companies, like WeHead, are contributing by creating human-like visages for the AI chatbot.
1X Technologies‘ recent funding success, led by EQT Ventures, cements its position as a trailblazer in the AI and robotics space. The development of the NEO android, backed by ethical considerations and a commitment to workers’ rights, showcases the company’s dedication to responsible innovation. As 1X Technologies propels towards a futuristic vision, the impact of androids in our daily lives is set to be transformative.
Q1.What is the focus of 1X Technologies’ recent funding round?
The $100 million Series B funding is primarily directed towards advancing the development of the second-generation android, NEO, capable of undertaking household tasks and working safely among people.
Q2.How is 1X Technologies addressing concerns about workers’ rights in the age of robotics?
1X Technologies emphasizes the safe deployment of androids with smart behavior, aiming to address ethical considerations and provide innovative solutions for everyday tasks in the workplace.
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