Apptronik raises $520M Series A extension for Apollo humanoid robot production

Apptronik announced Wednesday that it has raised 520 million dollars in an extension of its 415 million dollar Series A raise in February 2025. The extension brings the total round to more than 935 million dollars. Existing backers B Capital, Google, Mercedes-Benz and Peak6 joined new investors AT&T Ventures and John Deere in the extension. The Austin-based company said substantial inbound investor interest prompted it to open the extension at a three times multiple of the Series A valuation. The company did not reveal its new valuation. It confirmed that a 331 million dollar raise reported earlier is part of this Series A extension round. Apptronik has now raised nearly 1 billion dollars since its 2016 inception. The company said it will use the capital to ramp up production of its Apollo humanoid robot and expand its global network of commercial and pilot deployments. Apollo is designed to take on physically demanding work in manufacturing and logistics. Apptronik has commercial agreements with companies including Mercedes-Benz, GXO Logistics and Jabil. It also maintains a strategic partnership with Google DeepMind to build next generation humanoid robots. The company operates on a Robotics as a Service model that includes the robot hardware, software updates, service and support. It has nearly 300 employees, double its size from a year ago.