The Technology team advised 1X Technologies on the closing of its $100 million Series B financing round that included participation from EQT Ventures and other notable global investors. As part of the round, 1X also facilitated a significant secondary transaction.
1X is an AI and robotics company producing androids to benefit society and meet the world’s labor demand. 1X intends to utilize the new capital to bring to market its second generation android NEO. Designed as a bipedal humanoid, NEO is tailored for everyday home assistance, offering versatile support for a wide range of domestic tasks in the consumer markets. After successfully completing a Series A financing round led by OpenAI and Tiger Global in March 2023, 1X has now raised over $125 million in less than 12 months.
For additional details on the financing round, please read the press release.