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13 March 20242 minute read

DLA Piper advises Parkway Venture in its participation in US$675 million Series B investment in Figure AI

DLA Piper advised Parkway Venture Capital, a New York-based venture capital firm, in its participation in a US$675 million Series B fundraising round for Figure AI, an AI robotics company developing general purpose humanoid robots. Bezos Expeditions, Intel Capital, Align Ventures, ARK Invest, among others, also contributed to the fundraising round.

Based in Sunnyvale, CA, Figure develops autonomous general purpose humanoid robots that are designed for initial deployment into the workforce to address labor shortages, jobs deemed unsafe, and to support global scale supply chains. Figure has recently made remarkable progress in the key areas of AI, commercialization, and robot development and testing. As a result of fund raise, Figure intends to accelerate its timeline for humanoid commercial deployment.

“We were pleased to work with DLA Piper on this critical fundraising round for Figure AI and are thankful for Adam and his entire team for their insights and skilled counsel,” said Jesse Coors-Blankenship, Co-Founder of Parkway. 

“It was a pleasure to work with Parkway in contributing to this major financing round for Figure, an emerging robotics company with exciting commercial applications,” said Adam Brenner, the DLA Piper partner who led the deal team.

In addition to Brenner (New York), the DLA Piper team included partners Paolo Morante (New York) and Bradley Phipps (Philadelphia) and associates Maria Rydder (New York), Marina Kananova (San Francisco), Austin McCarthy (Boston), and David Kurlander (Philadelphia).

DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers who provide strategic counsel to emerging companies in high-growth industries, including technology, healthcare, pharma & biotech, financial services, manufacturing, and communications. Over the last three years, DLA Piper has completed more than 2,100 financings globally totaling over US$80 billion. 

DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.