33. Apptronik

Founders: Jeff Cardenas (CEO), Nick Paine, Luis Sentis
Launched: 2016
Headquarters: Austin, Texas
Funding: $443 million
Valuation: N/A
Key Technologies: Artificial intelligence, cloud computing, deep neural networks/deep learning, generative AI, machine learning
Industry: Industrials
Previous appearances on Disruptor 50 list: 0

While it may be years before robots replace human workers en masse, they may at least soon be coming into more of our workplaces.

Apptronik in 2023 released its first-ever commercial humanoid robot, Apollo, building on its development of bi-pedal mobility platforms, upper body humanoid robots and wearable robotic systems. Described as a general purpose humanoid robot, Apollo mirrors the look of a human, in order to effectively handle the same equipment and work in the same spaces as humans.

Apollo stands at 5 feet 8 inches tall, weighs 160 pounds, and operates for four hours per battery pack. Currently, the robot is designed to operate in warehouses and manufacturing plants, with tasks ranging from trailer unloading to case picking and machine tending. The newest Apollo model is assisted by an AI data engine that allows the humanoid to function autonomously. By following foundational models from datasets of human demonstrations, Apollo can learn and conduct new tasks.

Apptronik hopes to eventually broaden Apollo's reach into additional industries such as healthcare, construction, oil and gas, electronics production, retail and even help out with housework.

Apptronik has secured partnerships with Nvidia and NASA, including working on NASA's humanoid robot Valkyrie. The human-centered robotics company has also struck commercial deals with Mercedes-Benz and GXO Logistics to pilot Apollo at manufacturing and warehouse facilities. This past March, Google's DeepMind joined forces with Apptronik, announcing in a blog post that it plans to "build the next generation of humanoid robots with Gemini 2.0.," its generative AI large language model.

In February, Apptronik announced a $350 million Series A funding round, which was co-led by B-Capital and Capital Factory and also received participation from Google, a cash infusion that will help it expand the deployment and accelerate the development of Apollo, along with growing the company's team and scaling operations. That round was oversubscribed, and additional investment ended up raising the Series A total to $415 million.

While the growth of artificial intelligence continues to fuel fear among workers, Apptronik says its technology will be supporting humanity on the job rather than replacing it. According to co-founder and CEO Jeff Cardenas, the goal is for these robots is to be cheaper than a car, and it for them to become much more affordable overtime.

Elon Musk's Tesla Optimus is one of Apptronik's biggest rivals. Elon Musk said during its first-quarter earnings call that Tesla expects "to have thousands of Optimus robots working in Tesla factories by the end of this year."

Cardenas says Apptronik is "right there" with Tesla Optimus.

"Our investors are really backing us and think that we have a real shot at winning this race," Cardenas said in an CNBC "Squawk Box" interview at the time of its recent fundraising.