Physical Intelligence Said to Discuss $11 Billion Valuation
Robotics startup Physical Intelligence is in talks to raise roughly $1 billion in a round that would value it at over $11 billion including the investment.
Robotics startup Physical Intelligence is in talks to raise roughly $1 billion in a round that would value the company at over $11 billion including the investment, according to a Bloomberg report Friday.
Founders Fund is participating in the round, and Lightspeed Venture Partners, Thrive Capital and Lux Capital are in talks to invest, the report said, though deal talks are early, and the terms and investors could change. If it closes, the investment would double the startup’s valuation; it last raised $600 million at a $5.6 billion valuation, including the investment, in November. Alphabet’s CapitalG led that round while existing investors Lux Capital, Thrive Capital and Jeff Bezos participated.
The company makes large artificial intelligence models to power robots. It was founded two years ago by former Google employees; professors from Stanford University and the University of California, Berkeley; and early Stripe employee and venture capitalist Lachy Groom.