Apptronik, which aims to commercialize its humanoid robot Apollo, has raised $520 million in funding at a $5 billion valuation, potentially beating out Chinese rivals. Tesla’s Optimus goes to market.
The new funding announced Wednesday brings Apptronik’s Series A funding round to $935 million. B Capital, chaired by Howard Morgan, co-led the transaction with: google.
Located in Austin, Texas tesla Also home to the company’s headquarters, Uptronic is shaking up funds to improve Apollo’s humanoid robot and start producing more, CEO Jeff Cardenas told CNBC.
Initial versions of the company’s Apollo robots are currently operating within designated areas of factories and warehouses operated by Apptronik strategic partners such as Mercedes-Benz, GXO Logistics, and Jabil.
Cárdenas said the designated area is defined by external sensors and a so-called light curtain, and if a person crosses the boundary, Apollo will shut down within the area. Cárdenas said that in the future, Apollo will be designed for “cooperative safety,” allowing it to slow down, stop, and maneuver alongside other people, just like humans, to perform tasks such as transporting, sorting, and lifting parts.
Apptronik’s competitors include a wide range of humanoid developers, including China-based Unitree, Figure, Agility Robotics, and 1X. Tesla has big ambitions for Optimus, which is one reason why it plans to invest $20 billion in 2026.
Tesla said it will need to increase spending to begin manufacturing robots and self-driving cars. However, CEO Elon Musk said during a recent earnings call that Optimus Humanoid is still in the early research and development stages.
Cárdenas said the appeal of humanoids in the automation field is their versatility: “One robot can perform thousands of tasks, versus a thousand robots performing a single task.” The pilot deployment allows Apptronik to observe how Apollo operates, collect data from the fleet, and use it to improve the system and how it operates.
This new funding comes after Apptronik entered into a partnership with Google DeepMind and began working with Gemini Robotics AI models that power Apollo’s capabilities.
Apptronik was ranked #33 on the 2025 CNBC Disruptor 50 list. The company started at the University of Texas’ Human Centered Robotics Lab in 2016, long before Tesla started talking about humanoid robotics. Apptronik currently has 300 employees.
Cárdenas said the company will use some of the new capital to expand its footprint in Austin and open a new office in California later this year, while also working to prepare its robots and equipment for mass production.
Unlike Mr. Musk, who is known for making lofty promises, Mr. Cárdenas prefers to keep his public predictions about Apollo private. He declined to say when the robots will be widely produced or what features the first shipments will have.
Apptronik plans to reveal more later this year about what its robots can and cannot do, Cárdenas said.
Morgan was more candid about his expectations for the company, saying demand for Apollo is already clear. He said he expects orders for $1 billion worth of robots starting in 2027, at which time he hopes the company will be able to deliver Apollo in large numbers for about $80,000 a year, about the price of a luxury car.
“Think about factory workers working three or four shifts on the weekends,” Morgan said. “80,000 is cheap!”
Morgan also said he expects Uptronik to hire at least 200 more people next year, and given the excitement surrounding humanoid robotics, the company needs to secure new funding now.
“We need to have enough so that we’re taken seriously by everyone,” Morgan said. “Google is investing a lot of money, and we’re partnering with them, so we’re going to reap the benefits.”
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