Funding round
Figure Series A
Figure, which works in humanoid robot manufacturing in San Jose, raised $70M in a Series A round announced on 24 May 2023, led by Parkway Venture Capital, at a $500M post-money valuation. 7 firms took part. It is Figure's second venture round on record; the one before was a Seed in Sep 2022.
$70M
Amount raised
$500M
Post-money valuation
7
Investors
1 lead
14%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Figure at $500M after the new money. The $70M bought investors about 14% of the company. It came 8 months after Figure's Seed. It is 1.3% of the $5.34B Figure has raised in the venture rounds on record. Figure raised again 9 months later: a Series B round of $675M in Feb 2024, at $2.60B post-money.
Figure's funding rounds
Figure has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Parkway Venture Capital led the round with 6 other firms.
Lead investor
- backs 9 venture-backed companies new investor
Also in the round
- Brett Adcock new investor
- Aliya Capital new investor
- backs 45 venture-backed companies new investor
- backs 12 venture-backed companies new investor
- FJ Labs backs 316 venture-backed companies new investor
- KUKA Robotics new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and scaling operations.
- Product development
- Scaling operations
Comparable rounds
How it compares
43 Series A rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $12M, and this round was 5.6 times the median. The closest in time, other companies' Series A rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Industrial Machinery & Supplies | 21 Jun 2023 | $14M | not disclosed | not named |
| Industrial Machinery & Supplies | 14 Jun 2023 | $14M | not disclosed | NIO Capital and Hua Capital |
| Industrial Machinery & Supplies | 28 Jun 2023 | $12M | not disclosed | AlleyCorp |
| Industrial Machinery & Supplies | 21 Jun 2023 | $6.6M | not disclosed | Crédit Mutuel Equity |
| Industrial Machinery & Supplies | 26 Jul 2023 | $30M | not disclosed | Sequoia Capital |
| Industrial Machinery & Supplies | 23 Mar 2023 | $24M | not disclosed | OpenAI Startup Fund |
| Industrial Machinery & Supplies | 1 Mar 2023 | $11M | not disclosed | not named |
| Industrial Machinery & Supplies | 14 Mar 2023 | $11M | not disclosed | DRONE FUND |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Figure raise in its Series A round?
Figure raised $70M in its Series A round, announced in May 2023.
Who led Figure's Series A round?
Parkway Venture Capital led it, with Brett Adcock, Aliya Capital, BOLD Capital Partners, Tamarack Global and FJ Labs and 1 more.
What was Figure's valuation at the Series A round?
$500M post-money.
How does it compare with other Series A rounds in Industrial Machinery & Supplies?
43 Series A rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $12M, and this round was 5.6 times the median.
Did Figure raise again after this round?
Yes: a Series B round in Feb 2024 of $675M at $2.60B post-money.