Apptronik company profile: valuation, funding & revenue

This Apptronik company profile covers the company's valuation, revenue, funding rounds, investors and history. Apptronik works in robotics, with a focus on humanoid robots. It was founded in 2016 and is headquartered in Austin, Texas, United States. Its latest valuation on record is More than US$5.5 billion (reported) (February 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Apptronik timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2016 — Apptronik is founded in Austin by Jeff Cardenas (CEO) and Nick Paine.
• 2025 — Series A: US$415M. Investors: B Capital, Capital Factory, Google and others.
• Feb 2026 — Series A extension: US$520M, valuing the company at More than US$5B (reported; Bloomberg cited over US$5.5B). Investors: Google, Mercedes-Benz, B Capital, PEAK6; AT&T Ventures, John Deere, Qatar Investment Authority and others.
• February 2026 — Series A total: More than US$935 million across the 2025 Series A and its 2026 extension.

Investors

Overview

Apptronik builds humanoid robots designed to work alongside people in factories, warehouses and logistics, with longer-term ambitions in retail, healthcare and homes. Its main robot, Apollo, is roughly human-sized and designed to move boxes, totes and parts, and to be safe to operate near workers. Apptronik has partnered with Mercedes-Benz, logistics company GXO and contract manufacturer Jabil, and works with Google DeepMind on AI for next-generation humanoids. In February 2026 it raised US$520 million as an extension of its Series A, bringing Series A funding to more than US$935 million; reports put its valuation at more than US$5 billion, with Bloomberg citing over US$5.5 billion.

Jeff Cardenas, the CEO, and Nick Paine founded Apptronik in 2016 as a spin-out from the Human Centered Robotics Lab at the University of Texas at Austin. The team had worked on humanoid robots, including NASA's Valkyrie robot, giving it years of experience in legged robotics and actuators before humanoids became a popular investment theme.

Products

• Apollo: a general-purpose humanoid robot for material handling and logistics tasks.
• Actuators and hardware: in-house designed motors and joints that determine strength, efficiency and safety.
• AI and software: control and learning systems, developed partly with Google DeepMind's Gemini Robotics models.
• Commercial pilots: deployments with partners in automotive manufacturing and logistics.

Funding

Apptronik raised a Series A of US$415 million in 2025 from investors including B Capital, Capital Factory and Google. In February 2026 it raised a further US$520 million as an extension, with existing investors Google, Mercedes-Benz, B Capital and PEAK6 and new backers including AT&T Ventures, John Deere and the Qatar Investment Authority, bringing total Series A funding to more than US$935 million. TechCrunch reported a valuation of more than US$5 billion, while Bloomberg reported more than US$5.5 billion; the company described the extension as priced at three times its Series A valuation. Because the company didn't state the exact figure, we label it as reported.

Business model

Apptronik plans to sell or lease robots to businesses, potentially through robots-as-a-service arrangements in which customers pay per robot per month. Partnerships with manufacturers such as Jabil support production at scale. Revenue depends on moving from pilots to large deployments, which requires robots to be reliable and cost-effective compared with human labour and other automation.

Competition

Apptronik competes with humanoid companies such as Figure AI, Agility Robotics, Tesla's Optimus, 1X, Boston Dynamics' Atlas and Chinese makers such as Unitree and UBTech, and with traditional automation such as robotic arms and autonomous mobile robots. Our guide to humanoid robot companies compares them.

Apptronik at a glance

Apptronik is an Austin humanoid robot company founded in 2016 by Jeff Cardenas and Nick Paine as a spin-out from the University of Texas. It builds the Apollo humanoid for logistics and manufacturing, with partners including Mercedes-Benz, GXO, Jabil and Google DeepMind. It raised US$520 million in February 2026, bringing Series A funding above US$935 million, at a valuation reported at more than US$5 billion.

Timeline

• 2016: founded as a University of Texas spin-out.
• 2023: unveils Apollo.
• 2024: announces partnerships with Mercedes-Benz and GXO.
• 2025: raises a US$415 million Series A; partners with Google DeepMind and Jabil.
• February 2026: raises US$520 million at a reported valuation above US$5 billion.

Why humanoids for warehouses and factories

Factories and warehouses are designed for people: shelves, workstations, stairs and tools suit human bodies. Humanoid robots could, in principle, work in these spaces without expensive redesign, taking on repetitive, physically demanding tasks such as moving totes or delivering parts. Labour shortages in logistics and manufacturing add to demand. Sceptics note that specialised robots are often cheaper and more reliable for specific tasks, so humanoids must prove they can do many tasks well enough to justify their cost.

Who funds Apptronik

Apptronik's investors include Google and Mercedes-Benz as strategic backers, B Capital, PEAK6, AT&T Ventures, John Deere, the Qatar Investment Authority and Capital Factory.

Who uses Apptronik

Apptronik's early customers and partners include automotive manufacturers, logistics companies and contract manufacturers.

Valuation context

Apptronik's valuation tripled in about a year, part of a surge in humanoid robot funding. Our guide to robotics startups compares it with peers.

Risks

• Technical maturity: humanoids must work reliably over long shifts.
• Cost: robots must be cheap enough to justify deployment.
• Competition: many well-funded rivals, including Tesla.
• Hype cycle: investor enthusiasm can outpace commercial reality.

Questions for buyers

• What tasks can Apollo perform reliably today?
• How is pricing structured, and what support is included?
• What safety certifications apply for work near people?

How a humanoid pilot works

A typical early deployment starts small. A manufacturer such as an automotive plant identifies a repetitive task, for example carrying kits of parts from a storage area to an assembly line, and runs a pilot with a few robots under close supervision. Engineers measure how often the robot completes the task successfully, how fast it works, how often people need to intervene and how safely it operates near workers. The robot's software is improved based on what goes wrong. If results are good, the customer expands to more robots and tasks, often under a contract that includes maintenance and software updates. Most humanoid companies are still in this pilot-to-scale phase, which is why investors watch the number and size of commercial deployments closely.

Apptronik's partnership with Jabil is intended to help solve another bottleneck: manufacturing robots in large numbers at a cost that makes deployments economic.

Latest developments (October 2026)

Apptronik's February 2026 extension of US$520 million brought its Series A to more than US$935 million and total funding to nearly US$1 billion, according to TechCrunch and the company. Bloomberg reported a valuation of more than US$5.5 billion, about three times the initial Series A price. Investors included B Capital, Google, Mercedes-Benz and PEAK6, with new backers AT&T Ventures, John Deere and the Qatar Investment Authority. The company said it would ramp production of Apollo, expand deployments and debut a new robot in 2026.

What to watch

Watch commercial deployments, production volumes, Google DeepMind collaboration and further funding.

Takeaways

Manufacturers and logistics firms may gain flexible robotic labour. Founders can see how long university research can pay off. Investors should watch deployments versus hype.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Bloomberg
2. Trending Topics