Samsung, Nvidia are investing $35 million combined in THIS robotics startup. Here's why
Robotics software startup Skild AI Incorporated has drawn investments from MNC Samsung Electronics and chips major Nvidia Corporation, totalling $35 million, as both companies seek a footing in the emerging consumer robotics industry, Bloomberg reported, citing sources.
Both Samsung and Nvidia will pick up minority stakes in Skild AI with $10 million and $25 million investments, respectively, as part of the company's Series B funding round. Led by $100 million investment from SoftBank Group, this round will value Skild AI at around $4.5 billion, it added.
Representatives for Samsung and Nvidia declined to comment, while the spokesperson for Skild did not respond, the report said.
For Samsung, the report said that it sees investment in Skild 'as a way to keep visibility into the startup and its talent without needing to make a significant commitment'
It has deeper ambitions to expand into humanoid robots and household appliances — it already sells robot vacuums. It is also trying to keep pace with rivals LG, Mirae and Hanwha, who have each invested $5-10 million into Skild.
For Nvidia, the chipmaker is pushing for 'physical AI' — the concept where robots and autonomous vehicles are powered by artificial intelligence.
Some months back, Samsung took a minority stake in Physical Intelligence, which also develops underlying robotics algorithms, and is the largest shareholder of Rainbow Robotics, which makes humanoids; while Nvidia has invested in companies such as Figure AI and Serve Robotics.
Alphabet Inc. (Google), Amazon.com, Apple Inc., Meta Platforms and Tesla (Optimus robots) are heavily invested in the industry and it is 'quickly becoming a major area of future growth' for tech companies, the report said.
In fact, Tesla CEO Elon Musk has earlier said he expected the EV auto major to make 'thousands' of Optimus robots this year, but China's export restrictions on rare-earth magnets in April had affected production of the humanoid robots.
(With inputs from Bloomberg)
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