What are the fundraising trends in the robotics market?
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The robotics market raised over $18 billion across 235 equity deals between 2022 and 2025, with humanoid robots and AI foundation models capturing the lion's share of capital in recent years.
Funding more than tripled from $2.86 billion in 2022 to $8.76 billion in 2025, driven by massive bets on general-purpose robots powered by large-scale AI.
This surge reflects investor conviction that physical AI is finally ready for real-world deployment at scale.
And if you want to better understand this new industry, you can download our pitch covering the robotics market.
Insights
- Average robotics deal size jumped from $50 million in 2022 to $135 million in 2025, signaling that investors now fund factories and production lines rather than prototypes.
- Humanoid robot startups captured over 40% of all 2024-2025 funding, a category that barely existed in 2022, showing how quickly investor priorities can shift in the robotics market.
- The top 10 deals represented roughly 50% of annual funding each year, meaning a handful of mega-rounds consistently shape the entire robotics investment landscape.
- Surgical and medical robotics raised nearly $800 million in 2023 alone, making healthcare the second-largest robotics category after warehouse automation that year.
- Chinese humanoid robot companies raised over $2 billion in 2025, backed by auto manufacturers like BYD and Geely diversifying into embodied AI.
- Jeff Bezos personally invested in four of the largest robotics deals in 2024-2025, making him arguably the most influential individual backer in the sector.
- Warehouse and logistics robots attracted consistent funding across all four years, proving that fulfillment automation remains a durable investment thesis in the robotics market.
- NVIDIA emerged as the most prolific corporate investor in robotics by 2025, participating in seven deals as AI chips become essential for robot intelligence.
- Agricultural robotics funding remained steady at $120-150 million annually, suggesting a maturing but capital-efficient segment focused on weeding and harvesting automation.
- Only 2-4 deals per year fell below $2 million, indicating that robotics has graduated from early-stage experimentation to growth-stage scaling.
First, how do we define the robotics market?
We define the robotics market as all professional physical robots that sense their environment, make decisions, and act in the real world for work purposes.
We include industrial robot arms and cobots, mobile robots in factories and warehouses, medical and surgical robots, and other professional service robots used in logistics, healthcare, agriculture, and infrastructure.
We exclude consumer robots and toys, hobby drones, pure software automation like RPA, and non-robotic automation equipment such as simple conveyors or fixed-purpose machines.
This is also the definition we use in our pitch about the robotics market.
In our robotics market deck, we have designed useful charts to give you full market clarity
How has funding activity in the robotics market changed over time?
2025 was by far the most active year with $8.76 billion raised across 65 deals, driven by mega-rounds for humanoid robot companies like Figure AI ($1 billion+), Physical Intelligence ($600 million), and Skild AI ($500 million).
2023 was the slowest year with $1.97 billion across 45 deals, as the broader venture market pullback hit robotics hard despite continued interest in surgical and warehouse automation.
Robotics funding grew 80% between 2024 and 2025 (from $4.87 billion to $8.76 billion), grew 147% between 2023 and 2025 (from $1.97 billion to $8.76 billion), and grew 206% between 2022 and 2025 (from $2.86 billion to $8.76 billion).
If you exclude the top 2 deals each year, funding still grew from roughly $2.2 billion in 2022 to about $6.6 billion in 2025, confirming that the growth trend is broad-based and not just driven by a few headline-grabbing humanoid rounds.
If you're interested in this industry, please note that we regularly keep in touch and share funding updates for this market on this page, which we keep continuously updated.
We also make quarterly analyses of the funding activity in the robotics market here.
| Year | Number of Deals | Total Raised ($) | Comment |
|---|---|---|---|
| 2022 | 57 | $2.86B | Warehouse robots dominated with 36% of capital raised. Exotec's $335M round was the largest, followed by strong cobot and surgical robotics activity. |
| 2023 | 45 | $1.97B | Surgical robotics captured 40% of funding as investors sought higher-margin healthcare applications. Deal count dropped 21% amid broader venture pullback. |
| 2024 | 68 | $4.87B | Humanoid robots emerged as the dominant category with 35% of capital. Figure AI's $675M round signaled massive investor appetite for general-purpose robots. |
| 2025 | 65 | $8.76B | Record-breaking year with three companies raising $500M or more. Humanoid and AI foundation model companies captured over 60% of all funding. |
In our robotics market deck, we help you understand how the market is structured
Which startups in the robotics market raised the largest rounds over the last few years?
These startups raised the most over the last years in the robotics market:
- Figure AI raised over $1 billion in 2025 because investors believe its humanoid robots deployed at BMW factories represent the future of manufacturing labor.
- Figure AI raised $675 million in early 2024, backed by Microsoft, OpenAI, and NVIDIA, to scale its bipedal robot production for warehouse automation.
- Physical Intelligence raised $600 million in late 2025 for its general-purpose AI software that can power any type of robot for any physical task.
- Skild AI raised $500 million in mid-2025 from SoftBank and others for its robot-agnostic foundation models that work across different robot types.
- Galbot raised around $500 million across two 2025 rounds, making it one of China's best-funded humanoid robot companies with backing from CATL and China Mobile.
- FieldAI raised $405 million in 2025 for its Field Foundation Models designed to power robots from humanoids to self-driving vehicles.
- Apptronik raised $403 million in early 2025 with backing from Google and Mercedes-Benz to manufacture its Apollo humanoid for industrial work.
- Agility Robotics raised $400 million in 2025 to accelerate mass production of its Digit bipedal robot for warehouse logistics applications.
- Noah Medical raised $150 million in 2023 for its robotic bronchoscopy platform for lung cancer diagnosis, backed by SoftBank and Tiger Global.
- Exotec raised $335 million in early 2022 for its Skypod warehouse automation system, making it the largest robotics round that year.
And, yes, we do cover most of them in our our beautiful pitch about the robotics market.
In our robotics market deck, we answer all the common questions from investors and entrepreneurs
Is the robotics market shifting toward smaller or bigger deals?
According to our own data, the average deal size across all four years in the robotics market was approximately $75 million, reflecting the capital-intensive nature of building physical robots with AI capabilities.
The average deal size grew from $50 million in 2022 to $44 million in 2023, then jumped to $72 million in 2024 and reached $135 million in 2025. This sharp increase reflects investor willingness to write larger checks for humanoid and AI robotics companies approaching commercial scale.
Even excluding the top 3 outlier deals each year, average robotics deal sizes still increased from roughly $35 million in 2022 to about $80 million in 2025, confirming that larger rounds have become the norm across the sector.
| Year | Number of Deals | Average Deal Size ($) | Deals Below $2M | Deals Above $50M |
|---|---|---|---|---|
| 2022 | 57 | $50.2M | 4 | 18 |
| 2023 | 45 | $43.8M | 1 | 15 |
| 2024 | 68 | $71.6M | 2 | 23 |
| 2025 | 65 | $134.8M | 2 | 32 |
| All Years | 235 | $74.6M | 9 | 88 |
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How concentrated was funding activity in the robotics market?
Robotics funding has always been highly concentrated, with the top 10 deals capturing between 46% and 58% of annual capital each year. This concentration increased over time as humanoid robot companies attracted billion-dollar rounds in 2024 and 2025.
The top single deal represented 11-14% of annual robotics funding each year, meaning one company alone could shape the entire market's direction. This pattern held whether the largest deal was a warehouse robot company like Exotec in 2022 or a humanoid pioneer like Figure AI in 2024-2025.
| Year | Number of Deals | % by Top 1 | % by Top 3 | % by Top 10 |
|---|---|---|---|---|
| 2022 | 57 | 11.7% | 21.6% | 45.8% |
| 2023 | 45 | 8.6% | 24.6% | 58.0% |
| 2024 | 68 | 13.9% | 30.1% | 57.5% |
| 2025 | 65 | 11.4% | 24.0% | 50.4% |
| All Years | 235 | 5.7% | 12.9% | 31.2% |
In our robotics market deck, we track adoption trends and shifts in consumer behavior
Which categories in the robotics market received the most funding?
Humanoid robots captured the most funding with over $5.7 billion across 37 deals from 2022 to 2025, representing roughly 33% of all robotics capital raised. This category barely existed before 2024 but exploded as investors bet that general-purpose bipedal robots will transform manufacturing and logistics.
Surgical and medical robots ranked second with approximately $2.4 billion across 42 deals, driven by consistent investor appetite for high-margin healthcare applications from orthopedics to microsurgery and endoluminal procedures.
Warehouse and logistics robots came third with around $2.2 billion across 46 deals, proving that fulfillment automation remains a durable investment category even as humanoid hype dominated headlines in recent years.
| Category Name | Number of Deals | Total Raised ($) | Startups and Amount |
|---|---|---|---|
| Humanoid Robots | 37 | $5.7B | Figure AI ($1.7B), Apptronik ($403M), Agility Robotics ($550M), 1X Technologies ($124M), NEURA Robotics ($260M), Galbot ($500M), Unitree ($238M) |
| Surgical and Medical Robots | 42 | $2.4B | CMR Surgical ($325M), Distalmotion ($300M), Noah Medical ($150M), MMI ($185M), ForSight Robotics ($180M), Ronovo Surgical ($128M) |
| Warehouse and Logistics Robots | 46 | $2.2B | Exotec ($335M), Locus Robotics ($117M), GreyOrange ($135M), Hai Robotics ($100M), Dexterity ($95M), Pickle Robot ($76M) |
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Who are the biggest investors in the robotics market?
NVIDIA and NVentures emerged as the most prolific corporate investor in the robotics market with 15 deals across 2022-2025, investing in companies ranging from Figure AI and Skild AI to Carbon Robotics and Flexion. NVIDIA's strategy positions it as the essential AI chip supplier for intelligent robots.
SoftBank and its Vision Fund participated in 8 deals totaling over $1.5 billion, backing major players like Skild AI, Agility Robotics, CMR Surgical, and Jaka Robotics. SoftBank has consistently bet on category leaders across humanoid, surgical, and industrial robotics.
Jeff Bezos and Bezos Expeditions personally invested in 7 deals from 2024-2025, including Figure AI, Physical Intelligence, FieldAI, and Swiss-Mile. Bezos has emerged as the most influential individual investor in the robotics market.
Sequoia Capital (including HongShan in China) backed 8 deals across warehouse, humanoid, and industrial robotics, from Collaborative Robotics and RobCo to Unitree and X Square Robot.
Khosla Ventures invested in 6 deals focused on AI-powered robotics, including Physical Intelligence, FieldAI, Genesis AI, and Collaborative Robotics.
Tiger Global participated in 5 deals during 2022-2024, backing Vecna Robotics, Built Robotics, Diligent Robotics, and 1X Technologies before pulling back from venture investments.
Disclaimer: this investor list may be incomplete; we focus on publicly disclosed lead and prominent recurring investors, so some frequent minority participants may be underrepresented. “Total funded” does not represent the amount personally invested by an individual investor. Instead, it refers to the aggregate amount raised across all fundraising rounds in which the investor participated.
| Investor | Number of Deals | Total Funded ($) | Examples of startups |
|---|---|---|---|
| NVIDIA / NVentures | 15 | $3.2B+ | Figure AI, Skild AI, FieldAI, Physical Intelligence, Flexion, AgiBot, Agility Robotics, Carbon Robotics, Skydio, Waabi, Moon Surgical, Machina Labs, Neocis |
| SoftBank Group | 8 | $1.5B+ | Skild AI, Agility Robotics, CMR Surgical, Fourier Intelligence, Jaka Robotics, Telexistence, Noah Medical, Youibot |
| Sequoia Capital / HongShan | 8 | $950M+ | Physical Intelligence, Skild AI, RobCo, Collaborative Robotics, Unitree, X Square Robot, Hai Robotics, Syrius Robotics |
| Jeff Bezos / Bezos Expeditions | 7 | $2.5B+ | Figure AI, Physical Intelligence, FieldAI, Skild AI, Swiss-Mile |
| Khosla Ventures | 6 | $1.1B+ | Physical Intelligence, FieldAI, Genesis AI, Collaborative Robotics, Nomagic, Waabi |
| Tiger Global | 5 | $290M+ | Vecna Robotics, Built Robotics, Diligent Robotics, 1X Technologies, Ambi Robotics |
| Amazon Industrial Innovation Fund | 5 | $1.3B+ | Figure AI, Skild AI, Swiss-Mile, Agility Robotics, Hippo Harvest |
| Goldman Sachs | 4 | $520M+ | Exotec, Locus Robotics, Rapyuta Robotics |
| General Catalyst | 4 | $420M+ | Collaborative Robotics, Orchard Robotics, Skild AI |
| OpenAI / OpenAI Startup Fund | 4 | $1.4B+ | Figure AI, Physical Intelligence, 1X Technologies |
In our robotics market deck, we cover the latest tech updates shaping the market
What are the 2026 narratives around fundraising in the robotics market?
These are the dominant narratives shaping fundraising in the robotics market in 2025:
- Humanoid robots are transitioning from demos to deployments, with Figure AI at BMW and Agility Robotics at Amazon proving that bipedal machines can work in real factories.
- Foundation models for robotics are the new platform bet, with investors believing that one AI brain could eventually power every type of robot regardless of form factor.
- China is racing toward humanoid IPOs, with companies like Unitree, Leju, and AgiBot preparing to list on the STAR Market or Hong Kong exchange within 12 months.
- Auto manufacturers are becoming major robotics investors, with BYD, Geely, Mercedes-Benz, and Renault all backing humanoid companies as they diversify beyond vehicles.
- Surgical robotics is consolidating around soft tissue procedures, with CMR Surgical and Distalmotion competing against Intuitive's dominance in minimally invasive surgery.
- Agricultural robots are proving capital-efficient, with companies like Ecorobotix and SwarmFarm scaling on relatively modest funding compared to humanoid peers.
- NVIDIA has become the essential partner for robotics startups, making its venture arm one of the most sought-after investors for embodied AI companies.
- Warehouse automation is now table stakes, with investors focusing on next-generation picking and manipulation rather than basic goods-to-person systems.
- Defense robotics is attracting significant capital, with Saronic, Skydio, and Bone AI raising hundreds of millions for autonomous military applications.
- Sidewalk delivery robots are scaling profitably, with Starship, Serve Robotics, and Coco expanding fleets across US and European cities.
In our robotics market deck, we will give you useful market maps and grids
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