Investor Diligence · TSG Invest
Market
Goldman Sachs projects the general-purpose humanoid robotics sector will reach $38 billion by 2035.
With BotQ manufacturing facility operational and targeting 100,000 robots over four years, Figure AI is positioning itself as the market leader in general-purpose humanoid robotics, a sector Goldman Sachs projects reaching $38 billion by 2035.
Product
In October 2025, Figure AI unveiled Figure 03, its third-generation humanoid robot redesigned for mass manufacturing and home environments.
In October 2025, the company unveiled Figure 03, its third-generation humanoid redesigned from the ground up for mass manufacturing and home environments.
Traction
Figure AI has achieved commercial deployment, delivering Figure 02 robots to paying commercial customers including BMW and reportedly UPS.
Figure AI has transitioned from research to commercial deployment, delivering Figure 02 robots to paying customers including BMW (Spartanburg, South Carolina facility) and reportedly UPS.
Investment context
Figure AI raised over $1 billion in its Series C round in September 2025 at a $39 billion post-money valuation, marking a 15x increase from its February 2024 valuation.
Figure AI represents a significant investment opportunity in the emerging humanoid robotics market, having raised over $1 billion in its Series C round in September 2025 at a $39 billion post-money valuation—a 15x increase from its $2.6 billion valuation in February 2024.
What founders can learn
- The traction evidence that carried weight: TSG Invest wrote that Figure AI has achieved commercial deployment, delivering Figure 02 robots to paying commercial customers including BMW and reportedly UPS.
- How the market was framed: TSG Invest wrote that Goldman Sachs projects the general-purpose humanoid robotics sector will reach $38 billion by 2035.
Source and provenance
Investor Diligence published by TSG Invest on tsginvest.com (first-party source). Read the original
