1X — Funding & Company Data
Financial overview and investor data for 1X.
Founded
2014
Stage
Series b
Total Raised
$123.5M
HQ
Palo Alto, California
Team
51-200
Model
sales-led
Analyst Take
1X's funding trajectory demonstrates a rapid acceleration in investor interest and capital infusion, timed with heightened market excitement around AI and robotics. The company, founded in 2014 as Halodi Robotics, operated for years before its recent, substantial funding rounds. The March 2023 Series A, led by the OpenAI Startup Fund, was a major validation, aligning 1X with a leader in artificial intelligence and signaling a strategic focus on embodied AI.
The subsequent $100 million Series B in January 2024, led by EQT Ventures, solidified its financial position and ability to scale. This quick succession of large rounds from high-quality investors underscores the market's belief in 1X's approach to creating general-purpose androids, starting with enterprise clients and moving towards the consumer market with its 'NEO' model.
The quality of investors is high, blending strategic AI leadership (OpenAI) with deep-pocketed venture capital (Tiger Global, EQT). This combination provides not just capital but also critical industry partnerships and expertise. This financial backing is crucial in the capital-intensive field of robotics, allowing 1X to compete with other heavily funded players. The company's ability to secure this level of funding suggests it has a credible roadmap for tackling the immense technical and manufacturing challenges of producing humanoid robots at scale.
Stability
With over $125 million raised in less than a year and backing from top-tier investors, 1X appears financially stable for the near future. This substantial runway should allow it to navigate the lengthy R&D and manufacturing cycles required to bring its NEO androids to market.
Growth
1X is in a high-growth phase, rapidly scaling its team and manufacturing capabilities. The significant funding is being used to build out its production facilities and advance the development of its bipedal NEO android, indicating a clear path toward commercialization and market expansion.
For Buyers
For a potential customer, 1X's strong financial backing reduces the risk of the company failing before delivering on its product promises. This stability is critical when considering a long-term investment in a new technology platform like humanoid robotics, suggesting 1X is a viable long-term partner.
Funding Timeline
Investors: EQT Ventures, Sandwater, Samsung NEXT, Skagerak Capital, Nistad group
Investors: OpenAI Startup Fund, Tiger Global Management, Sandwater, Alliance Ventures, Skagerak Capital