According to reports on the evening of October 20, Beijing time, SoftBank Group is considering investing in Norwegian robotics startup 1X Technologies, valuing it at US$375 million. According to people familiar with the matter, 1X Technologies is expected to raise US$75 million to US$100 million in this round, led by SoftBank, with a pre-investment valuation of approximately US$375 million.
Founded 9 years ago, 1X Technologies is a humanoid robot startup that has previously raised $37 million. Major investors include Tiger Global and TypeOne Ventures.
In March this year, 1X Technologies raised US$23.5 million, led by OpenAI Startup Fund. OpenAI Startup Fund is a venture fund launched in 2022 by partners such as OpenAI and Microsoft, which mainly invests in artificial intelligence-related startups.
In June this year, SoftBank CEO Masayoshi Son told investors that as the company shifts from "defensive mode" to "offensive mode", SoftBank will become a leader in the field of artificial intelligence. For this reason, it is not surprising that SoftBank intends to invest in 1X Technologies this time.
It was also reported at the end of last month that Sun Zhengyi was discussing cooperation with OpenAI and Apple’s former design director Jony Ive to build a product called the “iPhone of artificial intelligence.” For this potential cooperation, SoftBank may contribute US$1 billion.