1X / Halodi Robotics $23.5 Million Raise Examined
While security robots generally have struggled to deliver on the hype in the late 2010s, Norway's 1X Technologies, formerly Halodi Robotics, has raised $23.5 million from a collection of prominent investors including the OpenAI Startup Fund, Tiger Global, and prominent robotics developer Trevor Blackwell.
While the raise is a vote of confidence from Silicon Valley, questions remain about the Norwegian startup's plans as its much-promoted ADT deployment plans had been delayed.
1X/Halodi COO Stein Erik Maurice spoke to IPVM recently about the raise, the ADT partnership, and the company's plans.
In this report, we examine the latest round, progress on the ADT partnership, and the company's near-term prospects in light of Maurice's comments.
Details ** *** *****
*** ****** ** *****,********* ** ***** ****, *** *** ******** ******* ****, * ******* ******* **** ******** by ******, ***** ** *******, **** participation **** * ***** ** ***** U.S. ********* ** **** ** ********* firms.
***** ****, ** *** ****** $**.* million, **** *** **** ****** ***** by *** *** *******. *** **********, which **-*** * ****$**.* ******* ******* ******* *** ****, *** *** *********** in *** **** ****** *****.
Influential *********
*** ****** ***** ** ********** *** only ******* ** *** **** *** because ** *** ************. **** ******** OpenAI ******* **** ** ********** **** ChatGPT ***********, ** ********** ************ ***********-******* ** *** *** ****** *** Elon ****.
***** *********** ********* ******** ************* *********, ******* ** ******* ***** **************, ******** ******, * ******* ******* **** **** specializes ** ********** *** ******** ********.
****** *** ***** **** *** **********,** *********** ******* ****** ******* ********* which *** ******** **** **** *,*** companies ********* ******, *******, ******, ********, Stripe, ********, ****** *** *********.******** *** ****** ********* ** * Combinator.
*** **** ******* ** *** ** raise,**** ********, ** *** *** *** ****** and ********** ****** ** ** ******** at * **********. ********* *** **** previously * ******* ** *** *********.
***** *.*. ************ *********** *** ********** **** ** *****-***** **************** ********.*** ********* ** ***** **** ************ in *** **** ****************,******** ********, *********** *******.
Bay **** ********
*******, **'* ***, **** **** **** representatives **** *** ******* *** ****** representatives ** *** ****** ** **** while ******* ** ******** ********* ********* as **** ** * ****** * fundraising ******. ** ********** "*** * dialogue **** *** [******] *******" *** "had ******** ******** ** *** *** Area **** *** *** *** ****," Maurice **** ****.
** *** **** ****, ** *** also ** ***** **** ***** ******. Terms *** * **** **** ****** out ** *** ***** ******* ** last ****, ******* ****.
*********, ******* ** *******, *** *** largest ****** ********** ******** ** *** round, ******* ****. ** *****:
** ** *** **** * ****** list ** *** *** ********* ** the *****, *** ** **** ******** the *******. ****** ** *** ** many ******* ****** ****-******* ****** ** the ******** *** ** ********* **** is **** **** ** *** *** table ***. ** *** *** **** really ******** ** *** **********.
*********, ** * ********** ** *********** the *********** ********** ** *** *** we ***** ****** [******** **** ***** robot *********]. ** *** **** ***** and ***** ** **** *** ** part ** *** ********** **** ** well.
Other ***** ************
******** ******** ********* *** ***** ********* **** ******* Valley ******** *** **** ****** * role. ****** *** ****, *** ********** tried ** **** **** ****** ***** ago, ****** *** **** *** ************, "have **** ************ ******* ** **** other," ********* ** *** *******. ****** is ******** "** *****'* ***** ****" with *** **********, *** ********* ****.
*************** **** ****** *** *** ***** to ****'* ******** *** ******** ** the ** *****. ** *** ***** release ********** *** *****, ******** ****:
** ** ** *** ********* ** augmenting ***** ******* *** *** ** safe, ******** ************ ** ********. *** OpenAI ******* **** ******** ** *** approach *** ****** **** ** *** have ** *** ****** ** ****.
***** ********, * ******* **** ******** *******, told **** **** *** ********* ** firm *** "**** ********* **** ******** company ***** **** *** **** **** impressed ** ***** ******* ** ******* their ********** *** ******* ****** *** field."
******** *********:
*** ** *** ********** *** ***** on **'* ******** ** ******** ******** robots ********** * ****** *** *********** long-term ********. *** ******* **** ** first ***** ** ****** ******** ** North ******* ****** ******** **** *** global ******, ***** *********** * "****** first" *******, ****** ******* ****** *** development **** **** ***********.
** ** ******** *** ******** ** support ** **** ***** ********** ********** for ******* ******* *** **** **** enter **** ********* ***************** *****.
Androids *** *** ***
********* ** *** ***** ************, ** said ** ******* ** *** *** funds ** "******** *** ******* ** building *** ******** ******* ******* ***** NEO, ** **** ** ***** ************* of *** ***** ************ ********* ******* EVE ** ****** *** *******."
***, ********* ** * ***** **** toward ****** ******** ** *** *********, is * ************ *** **-********** ***** that ********* * ***** ****, *** arms, *** ***** ** ******.
*** *** ******** ****** ***** *** has ******* **** **, ************** ******, *** ***** ** **'* *** Version *, ********* ** *******.
*** ***** ** ******** "** **** very ******** *** ************" *** ** "meant *** ************ **** *** ****** density," ** ****. ***** ** ******** of ***** ** ************* ********, ***** and ***** ********** **** ** ** well, ******* ****.
"**** **** ****** ** ** **** walk ** ** ** *** **** to ** *******," ** ****.
*** ******* ** **** ******* ** a ******* *****, **** **** ******* of ******, ***** ** ***** ***, for ****** ************.
***** *** ******* ** ********* ******* on *** ******** ******, ** ******* to ********** ******* ** ***** *******. Long-term, ** **** *** **** ****** robotics. *** ****-****** **** ******, ***** means "*****" ** *********, ** ** was ***** ** ******* *** ***** aspirations, *** *******'* **** ** **************,**** **********, **** ****.
Autonomous **********
******** *** ***/******** ****** *** ** controlled ********, **** *** **** ** some ********** **********, ********* ** *******. He **** **** **** ** * recent **** ** * ********* ****** headquarters ** ******, ****** *** ** patrol ****, ******* * ***** ** about *.* *****, ******* ***** ************.
*** ********** ********** ******** ******** *********, such ** ****** ******* ** ***** of *** *****, *** * "******* environment ***** ******** * ***** ** out ** ***** *** *** ***** needs ** *******," ******* ****. ** added:
*** ****** *** ***** *** ** the ******** ** ***** *** ******** and **** *** ******* ********* ** an *********** ***** **** ******* *** moved ****** *** **** ******* *** static.
Autonomous ************
*** ***** *** ** ********** ********** but ********* **** *** ** ********** manipulation. * ***** ********** **** **** opening, ******** *******, *** ***** ************ tasks, ****** *** ******* ** ******* out ********** ************ ** *********.
** ******** ** ******* ** * human *********** *** ***** ** *** West **** (**** ** *** ***** of *** ***** *** *** ***** operator):
Status ** *** *****
*** ******** ****** **** ********* *** to ** ******** ** *********** **** ADT ****************** ** ****. *** *** ****** *** *********** ** **** ****.***, ***** *** *********** ** * previous ******* ***** *** ** ** absent **** *** ****** *****. *** company *** *** ***** ** * request *** ******* **** ****.
******* **** **** **** ** *** "started *** ********** *******." ** ******** to *** *** **** ** *** 140 ****** **** **** ******* ** far, *** ** ***** **** ********** the ***** ** *** *** ** 2023 ** * "********* ********." ** continued:
*** ********** ******* ** *** ***** for ******** ******** ** *******. *** can ****** **** **** ** **** about *** ** *** ********* ** in *** **** ****** *****. *** what ** *** *** ** *** is **** ** *** ****** ******* with ***** ********** *********.
********* *** *** ****** ** ****** warehouses, ************ *******, *** ***** ***** facilities ******* ******** ******** ******** ** intellectual ********, ** **** ****. ******* use ****** ** ****** ***** ******** costs *** ******* *** ******* ** their ********.
*** ******* *** **** **** *********** for **. ** **** * ****** good ************* ** *** ******** ******** market. *** ** *** ** ****** to ******* **** ** *** ******* and *** ****-****** ** ********* *******.
***** *** ***********, *** ****** ** the *********** *** ** ** ********* in *** *.*. *** ******.
"**** ***** ****** ** **** *******" and ******** "**** ** ******* *** companies," ******* **** ****.
Near-Term *********
*** *******'* ******* ******** ** ************* its ******** ** ****** ******* ***. As * ******, *** ****-**** ******* may **** ******* ** ******* ** is **** ** ******* ****** ** schedule *** ******* *** *********** ** profitable *** *** *** ********** *** ADT *********.
*******, ********** ** *** *** *********** turns ***, **** ****-******* ******* **** Silicon ****** **** *********** ** ******* to ** ** ** ********* ** seek ********** ******* ** ******* ******** and ***********.
* ****** ***** **** ******** ******* shows *** ** *** ***** ******** by * ****** **** * ** set.
********'* ************ *** ************* **** **/******, ** *** *** ** *** the ***** ********* ************.
***** *** ** *** ***** ******** by * ****** **** * ** set.
** ****'** ******** **** ** ************ nobody ***** ** ***.
**'* ******** ********** *** ****** ******** ***** *** can *** ** ** *** (~*.* mph).
*** **** **** ********* **** *** robot **** ** **** ** **** over ** ** *** ***** ** kg.
*** ******* ********** *** ********* ******** to *** ******* ***** ** *** market.****** *****/******* ******** ******* ***** "*** the ***** ****** *** *** ******", ******* *** ****** ** ~** seconds (~**.* ***). **** ***** *** not **** ** ***** ****, *** only ******** ** ****, ***** ***** make ********* ******, *** ***** *** faster ******* ******.
** ******* ********** ** ****** ********' Atlas *****,*****' ***** ** ******** * ***, ***** ** **% less **** ***'* ******* *****.
***** **'* ****** *** *********, *** robots *** *** ** ** **** operating ************ *** ************* *** *******'* claims.
**** *********! * ** ********** ** see *** **** ***** **** ***. I ********** ******* **** ********* **** this ******** *** ***** *** **** meetings *** **'* ******* *** **** will *** / ***** ****** *** scale *** *****.
****** ***** ******** -*** ******** ****** **** ** ** Apartment *******? (*********** *******)** ** *****, * ***'* ******* ADT ** ****** ** ********* *** these *** *****. *** ********, ******, is **** **** *******, **** *** robot *** **** ** * ******* (for ******* ** ** *******)******* *** ** ***** **** ** ongoing *********** *******.