Strengths
- Figure is a private humanoid robotics unicorn valued at US$39B.
- Figure builds general-purpose humanoid robots powered by Helix embodied AI.
- Figure can scale humanoids into homes and commercial operations.
Diligence report
Figure AI
Figure AI Startup Diligence Report
Proceed only with deep technical, safety and unit-economic diligence: public evidence verifies a major US$39B financing and ambitious embodied-AI roadmap, but underwriting hinges on deployment economics, reliability, manufacturing yield and liability controls that are not public.
Company profile
Figure AI Startup Diligence Report
Figure AI passed the public-source operating-company screen after replacing an ineligible acquired candidate. Proceed only with deep technical, safety and unit-economic diligence: public evidence verifies a major US$39B financing and ambitious embodied-AI roadmap, but underwriting hinges on deployment economics, reliability, manufacturing yield and liability controls that are not public.
- Website
- www.figure.ai
- Sector
- Humanoid robotics / embodied AI
- Geography
- United States; San Jose, California headquarters with intended home and commercial markets
- Stage
- Late-stage private AI robotics unicorn
- Known aliases
- Figure, Figure AI, Inc.
- Report version
- 1.0
- Timezone
- UTC
Executive summary
Risks
- Valuation far ahead of public commercialization evidence
- Technical reliability and safety-case risk
- Manufacturing scale and supply-chain execution risk
Gaps
- Audited financial statements, current cash/debt/runway and board-approved forecast.
- Cap table, financing preferences, options/warrants, debt and current valuation support.
- Top-customer revenue, contracts, churn/retention and independent customer references.
- Material contracts, legal/regulatory/IP/security/insurance artifacts.
- HRIS, compensation, option plan, turnover and hiring plan.
Risk register
R-001: Valuation far ahead of public commercialization evidence
R-002: Technical reliability and safety-case risk
R-003: Manufacturing scale and supply-chain execution risk
R-005: Competitive intensity in humanoid robotics
R-006: Compute/data dependency and privacy/IP risk
R-004: Customer concentration and demand uncertainty
01Financial Information
Figure AI's public valuation evidence is meaningful, but audited financials, cap table, cash/debt, projections and current valuation support require private diligence.
I.A Annual and quarterly financial information for the past three years
not publicly verifiable confidence: low
Figure AI's public valuation evidence is meaningful, but audited financials, cap table, cash/debt, projections and current valuation support require private diligence. This section owns 1 table(s) and 0 figure(s).
Evidence gaps
- Audited financials, management accounts, tax records, debt instruments, cap table and forecast model.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-002 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide audited financial statements, KPI pack, cap table, debt schedule, budget-to-actuals and valuation bridge.
| metric | public signal | verification status | evidence |
|---|---|---|---|
| Funding scale | More than US$1B Series C; nearly US$2B cumulative reported | verified/partially_verified | EC-001 |
| Revenue / gross margin / robot unit economics | Not disclosed publicly | not_publicly_verifiable | EC-006 |
| Manufacturing capex / cash runway | Use of funds disclosed, but budget and runway private | not_publicly_verifiable | EC-003 |
I.B Financial Projections
not publicly verifiable confidence: low
Figure AI's public valuation evidence is meaningful, but audited financials, cap table, cash/debt, projections and current valuation support require private diligence.
Evidence gaps
- Audited financials, management accounts, tax records, debt instruments, cap table and forecast model.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-002 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide audited financial statements, KPI pack, cap table, debt schedule, budget-to-actuals and valuation bridge.
I.C Capital Structure
not publicly verifiable confidence: low
Figure AI's public valuation evidence is meaningful, but audited financials, cap table, cash/debt, projections and current valuation support require private diligence. This section owns 0 table(s) and 1 figure(s).
Evidence gaps
- Audited financials, management accounts, tax records, debt instruments, cap table and forecast model.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-002 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide audited financial statements, KPI pack, cap table, debt schedule, budget-to-actuals and valuation bridge.
I.D Other financial information
not publicly verifiable confidence: low
Figure AI's public valuation evidence is meaningful, but audited financials, cap table, cash/debt, projections and current valuation support require private diligence. This section owns 1 table(s) and 1 figure(s).
Evidence gaps
- Audited financials, management accounts, tax records, debt instruments, cap table and forecast model.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-002 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide audited financial statements, KPI pack, cap table, debt schedule, budget-to-actuals and valuation bridge.
| date | round | lead or participants | amount | post money valuation | evidence |
|---|---|---|---|---|---|
| 2025-09 | Series C | Parkway Venture Capital led; Brookfield, NVIDIA, Intel Capital and others participated | >US$1B committed capital | US$39B post-money | EC-001 |
| 2022-2025 | Cumulative funding | TechCrunch reported nearly US$2B raised since founding | ~US$2B cumulative reported | not_publicly_verifiable current mark | EC-005 |
| 2026-05 | Current valuation support | Not public | not_publicly_verifiable | not_publicly_verifiable | EC-006 |
02Products
Public sources describe Figure AI's products and category, while pricing, margins, roadmap cost and product-level profitability remain private.
II.A Description of each product
not publicly verifiable confidence: low
Public sources describe Figure AI's products and category, while pricing, margins, roadmap cost and product-level profitability remain private. This section owns 2 table(s) and 1 figure(s).
Evidence gaps
- SKU-level revenue, product margins, roadmap, release history, reliability and product profitability.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-003 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide product roadmap, SKU economics, pricing/discounting and product-level gross margin.
| product | audience | public description | verification status | evidence |
|---|---|---|---|---|
| Figure 03 | Home and eventual commercial users | General-purpose humanoid robot for everyday home help | verified | EC-002 |
| Helix | Robot intelligence stack | Vision-Language-Action model for perception, language and control | partially_verified | EC-004 |
| BotQ manufacturing | Internal production scale-up | Manufacturing expansion referenced in Series C announcement | partially_verified | EC-003 |
| pricing area | buyer or user | public evidence or gap | verification status | evidence |
|---|---|---|---|---|
| Robot sale/lease/subscription | Home/commercial buyers | Pricing not publicly disclosed | not_publicly_verifiable | EC-006 |
| Service/support economics | Enterprise/home deployments | Maintenance, warranty and service costs private | not_publicly_verifiable | EC-006 |
| AI/data economics | Model training and data collection | Cost per training hour and compute unit economics private | not_publicly_verifiable | EC-006 |
03Customer Information
Public customer/user/partner signals exist, but top customers, revenue concentration, churn, retention and supplier contracts are not public.
III.A Top customers by application
not publicly verifiable confidence: low
Public customer/user/partner signals exist, but top customers, revenue concentration, churn, retention and supplier contracts are not public. This section owns 1 table(s) and 0 figure(s).
Evidence gaps
- Top-customer list, contracts, revenue by customer, churn/NRR, references and supplier agreements.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-004 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide top-customer and supplier schedules, revenue concentration, churn, NRR and reference contacts.
| customer or user group | region or segment | public evidence | verification status | evidence |
|---|---|---|---|---|
| Home market | Consumer households | Figure 03 home-use positioning is public; sales volume not public | partially_verified | EC-002 |
| Commercial operations | Factories/warehouses/other settings | Series C PR references commercial workforce tasks; customers and revenue not public | partially_verified | EC-003 |
| Strategic investors | Infrastructure/ecosystem | NVIDIA, Brookfield and other strategic/financial investors publicly named | verified | EC-007 |
III.B Strategic relationships
not publicly verifiable confidence: low
Public customer/user/partner signals exist, but top customers, revenue concentration, churn, retention and supplier contracts are not public. This section owns 1 table(s) and 0 figure(s).
Evidence gaps
- Top-customer list, contracts, revenue by customer, churn/NRR, references and supplier agreements.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-004 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide top-customer and supplier schedules, revenue concentration, churn, NRR and reference contacts.
| party | role | public evidence or gap | verification status | evidence |
|---|---|---|---|---|
| NVIDIA | GPU infrastructure / investor | Series C announcement names next-generation NVIDIA GPU infrastructure and NVIDIA as investor | verified | EC-003 |
| Brookfield Asset Management | Investor / AI infrastructure relationship | Named as significant investor | verified | EC-007 |
| Manufacturing supply chain | Robot components and assembly | Suppliers, BOM and contract terms not public | not_publicly_verifiable | EC-006 |
III.C Revenue by customer
not publicly verifiable confidence: low
Public customer/user/partner signals exist, but top customers, revenue concentration, churn, retention and supplier contracts are not public. This section owns 0 table(s) and 1 figure(s).
Evidence gaps
- Top-customer list, contracts, revenue by customer, churn/NRR, references and supplier agreements.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-004 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide top-customer and supplier schedules, revenue concentration, churn, NRR and reference contacts.
III.D Significant relationships severed within the last two years
not publicly verifiable confidence: low
Public customer/user/partner signals exist, but top customers, revenue concentration, churn, retention and supplier contracts are not public.
Evidence gaps
- Top-customer list, contracts, revenue by customer, churn/NRR, references and supplier agreements.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-004 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide top-customer and supplier schedules, revenue concentration, churn, NRR and reference contacts.
III.E Top suppliers
not publicly verifiable confidence: low
Public customer/user/partner signals exist, but top customers, revenue concentration, churn, retention and supplier contracts are not public.
Evidence gaps
- Top-customer list, contracts, revenue by customer, churn/NRR, references and supplier agreements.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-004 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide top-customer and supplier schedules, revenue concentration, churn, NRR and reference contacts.
04Competition
Figure AI operates in a competitive market where public benchmarks show multiple substitutes; win/loss and pricing evidence are private.
IV.A Competitive landscape by market segment
partially verified confidence: medium
Figure AI operates in a competitive market where public benchmarks show multiple substitutes; win/loss and pricing evidence are private. This section owns 2 table(s) and 1 figure(s).
Evidence gaps
- Win/loss data, pricing benchmarks, customer references and competitor displacement evidence.
Hidden risks
- R-004 remains open until private diligence confirms the public-source gap.
- R-005 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide win/loss analysis, pricing comparisons and customer evidence for differentiation.
| competitor | segment | public overlap | benchmark type | evidence |
|---|---|---|---|---|
| Tesla Optimus | Humanoid robotics | Large-cap internal robotics program with manufacturing scale | public benchmark | EC-009 |
| Agility Robotics | Warehouse humanoid/legged robotics | Commercial logistics/manufacturing overlap | public benchmark | EC-009 |
| Apptronik / Boston Dynamics | Humanoid/mobile robotics | Competes for robotics talent, customers and safety credibility | public benchmark | EC-009 |
| axis | target position | competitor pressure | diligence request | evidence |
|---|---|---|---|---|
| price | Public evidence incomplete. | Medium to high | Provide win/loss, pricing, renewal, NPS and customer-reference data. | EC-006 |
| distribution | Public evidence incomplete. | Medium to high | Provide win/loss, pricing, renewal, NPS and customer-reference data. | EC-006 |
| technology | Public technology/product narrative is strong but company-published. | High | Provide win/loss, pricing, renewal, NPS and customer-reference data. | EC-002 |
| trust/compliance | Public evidence incomplete. | Medium to high | Provide win/loss, pricing, renewal, NPS and customer-reference data. | EC-006 |
05Marketing, Sales, and Distribution
Public GTM evidence is mostly owned-channel and financing/media signal; pipeline, CAC, payback and sales productivity are not public.
V.A Strategy and implementation
not publicly verifiable confidence: low
Public GTM evidence is mostly owned-channel and financing/media signal; pipeline, CAC, payback and sales productivity are not public. This section owns 1 table(s) and 0 figure(s).
Evidence gaps
- Pipeline, CAC, payback, conversion, quota attainment, channel mix and marketing budget.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-004 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide funnel metrics, CAC/payback, quota attainment, sales cycle and channel budget.
| channel | buyer or supply side | public evidence or gap | verification status | evidence |
|---|---|---|---|---|
| Strategic investor ecosystem | Infrastructure and enterprise access | NVIDIA/Brookfield/Salesforce/T-Mobile/Qualcomm investor set may support ecosystem access | partially_verified | EC-007 |
| Direct commercial deployments | Enterprise operations buyers | Deployment count and signed pipeline private | not_publicly_verifiable | EC-006 |
| Consumer launch | Home market | Figure 03 home positioning public; pricing, support and regulatory readiness private | partially_verified | EC-002 |
V.B Major Customers
not publicly verifiable confidence: low
Public GTM evidence is mostly owned-channel and financing/media signal; pipeline, CAC, payback and sales productivity are not public.
Evidence gaps
- Pipeline, CAC, payback, conversion, quota attainment, channel mix and marketing budget.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-004 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide funnel metrics, CAC/payback, quota attainment, sales cycle and channel budget.
V.C Principal avenues for generating new business
not publicly verifiable confidence: low
Public GTM evidence is mostly owned-channel and financing/media signal; pipeline, CAC, payback and sales productivity are not public. This section owns 1 table(s) and 1 figure(s).
Evidence gaps
- Pipeline, CAC, payback, conversion, quota attainment, channel mix and marketing budget.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-004 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide funnel metrics, CAC/payback, quota attainment, sales cycle and channel budget.
| signal | public evidence | gap | evidence |
|---|---|---|---|
| earned media / funding | US$39B post-money Series C (September 2025) | Corroborate with operating KPIs. | EC-001 |
| owned website | Active public website reviewed. | Corroborate with operating KPIs. | EC-002 |
| sales pipeline | Pipeline and conversion metrics are private. | Request pipeline, CAC, payback and sales productivity. | EC-006 |
V.D Sales force productivity model
not publicly verifiable confidence: low
Public GTM evidence is mostly owned-channel and financing/media signal; pipeline, CAC, payback and sales productivity are not public.
Evidence gaps
- Pipeline, CAC, payback, conversion, quota attainment, channel mix and marketing budget.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-004 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide funnel metrics, CAC/payback, quota attainment, sales cycle and channel budget.
V.E Ability to implement marketing plan with current and projected budgets
not publicly verifiable confidence: low
Public GTM evidence is mostly owned-channel and financing/media signal; pipeline, CAC, payback and sales productivity are not public.
Evidence gaps
- Pipeline, CAC, payback, conversion, quota attainment, channel mix and marketing budget.
Hidden risks
- R-001 remains open until private diligence confirms the public-source gap.
- R-004 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide funnel metrics, CAC/payback, quota attainment, sales cycle and channel budget.
06Research and Development
Public R&D/product claims require technical validation, budget review, roadmap evidence and incident/reliability data.
VI.A Description of R&D organization
not publicly verifiable confidence: low
Public R&D/product claims require technical validation, budget review, roadmap evidence and incident/reliability data. This section owns 1 table(s) and 0 figure(s).
Evidence gaps
- R&D budget, engineering roadmap, technical-debt register, incident logs and model/product evaluations.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-003 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide R&D roadmap, technical evaluation, incident history, IP ownership and development-cost plan.
| activity or role | function | public evidence or gap | verification status | evidence |
|---|---|---|---|---|
| Helix VLA | Embodied AI | 7B VLM / 80M visuomotor transformer claims; 200Hz control | partially_verified | EC-004 |
| Training/data collection | Robot learning | ~500 hours training data and new data collection efforts disclosed | partially_verified | EC-004 |
| Manufacturing scale-up | BotQ | Production manufacturing expansion disclosed, details private | partially_verified | EC-003 |
VI.B New Product Pipeline
not publicly verifiable confidence: low
Public R&D/product claims require technical validation, budget review, roadmap evidence and incident/reliability data. This section owns 1 table(s) and 1 figure(s).
Evidence gaps
- R&D budget, engineering roadmap, technical-debt register, incident logs and model/product evaluations.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-003 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide R&D roadmap, technical evaluation, incident history, IP ownership and development-cost plan.
| project | status | expected timing | source or gap | evidence |
|---|---|---|---|---|
| Helix VLA | partially_verified | not_publicly_verifiable | 7B VLM / 80M visuomotor transformer claims; 200Hz control | EC-004 |
| Training/data collection | partially_verified | not_publicly_verifiable | ~500 hours training data and new data collection efforts disclosed | EC-004 |
| Manufacturing scale-up | partially_verified | not_publicly_verifiable | Production manufacturing expansion disclosed, details private | EC-003 |
07Management and Personnel
Some founder or leadership information is public, but HRIS, compensation, option plans, turnover and workforce projections require private records.
VII.A Organization Chart
partially verified confidence: medium
Some founder or leadership information is public, but HRIS, compensation, option plans, turnover and workforce projections require private records. This section owns 0 table(s) and 1 figure(s).
Evidence gaps
- Org chart, HRIS export, compensation, option plan, turnover, departures and hiring plan.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide HRIS, org chart, compensation plans, option plan, turnover/departure list and hiring budget.
VII.B Historical and projected headcount by function and location
partially verified confidence: medium
Some founder or leadership information is public, but HRIS, compensation, option plans, turnover and workforce projections require private records. This section owns 1 table(s) and 0 figure(s).
Evidence gaps
- Org chart, HRIS export, compensation, option plan, turnover, departures and hiring plan.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide HRIS, org chart, compensation plans, option plan, turnover/departure list and hiring budget.
| period | population | count or status | public evidence or gap | evidence |
|---|---|---|---|---|
| 2025 | Engineering/team depth | not_publicly_verifiable | Homepage gives qualitative 100+ years combined experience, not headcount | EC-002 |
| 2026 | Current headcount | not_publicly_verifiable | No HRIS or verified LinkedIn headcount collected | EC-006 |
| Projected | Manufacturing/R&D hiring plan | not_publicly_verifiable | Requires management plan and budget | EC-006 |
VII.C Senior management biographies
partially verified confidence: medium
Some founder or leadership information is public, but HRIS, compensation, option plans, turnover and workforce projections require private records. This section owns 1 table(s) and 0 figure(s).
Evidence gaps
- Org chart, HRIS export, compensation, option plan, turnover, departures and hiring plan.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide HRIS, org chart, compensation plans, option plan, turnover/departure list and hiring budget.
| name | role | public background | verification status | evidence |
|---|---|---|---|---|
| Brett Adcock | Founder and CEO | Quoted in Series C announcement | verified | EC-001 |
| Robotics / AI team | Engineering organization | Homepage says 100+ years combined AI and humanoid experience; individual roster not fully public in sources reviewed | partially_verified | EC-002 |
| Finance/legal leadership | Corporate functions | Not publicly verified in sources reviewed | not_publicly_verifiable | EC-006 |
VII.D Compensation arrangements
partially verified confidence: medium
Some founder or leadership information is public, but HRIS, compensation, option plans, turnover and workforce projections require private records.
Evidence gaps
- Org chart, HRIS export, compensation, option plan, turnover, departures and hiring plan.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide HRIS, org chart, compensation plans, option plan, turnover/departure list and hiring budget.
VII.E Incentive stock plans
partially verified confidence: medium
Some founder or leadership information is public, but HRIS, compensation, option plans, turnover and workforce projections require private records.
Evidence gaps
- Org chart, HRIS export, compensation, option plan, turnover, departures and hiring plan.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide HRIS, org chart, compensation plans, option plan, turnover/departure list and hiring budget.
VII.F Significant employee relations problems, past or present
partially verified confidence: medium
Some founder or leadership information is public, but HRIS, compensation, option plans, turnover and workforce projections require private records.
Evidence gaps
- Org chart, HRIS export, compensation, option plan, turnover, departures and hiring plan.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide HRIS, org chart, compensation plans, option plan, turnover/departure list and hiring budget.
VII.G Personnel Turnover
partially verified confidence: medium
Some founder or leadership information is public, but HRIS, compensation, option plans, turnover and workforce projections require private records.
Evidence gaps
- Org chart, HRIS export, compensation, option plan, turnover, departures and hiring plan.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide HRIS, org chart, compensation plans, option plan, turnover/departure list and hiring budget.
08Legal and Related Matters
Material contracts, regulatory history, IP schedules, insurance, security and litigation status require counsel-led private diligence.
VIII.A Pending lawsuits against the Company
not publicly verifiable confidence: low
Material contracts, regulatory history, IP schedules, insurance, security and litigation status require counsel-led private diligence. This section owns 1 table(s) and 0 figure(s).
Evidence gaps
- Litigation docket schedule, regulatory correspondence, IP schedule, material contracts, insurance and security reports.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide counsel memo, docket search, regulatory correspondence, IP schedule, material contracts and insurance policies.
| area | public status | diligence request | priority | evidence |
|---|---|---|---|---|
| Pending lawsuits against company | not_publicly_verifiable in this public-only run | Provide counsel memo, docket schedule and settlement history. | high | EC-010 |
| Claims initiated by company | not_publicly_verifiable in this public-only run | Provide counsel memo, docket schedule and settlement history. | high | EC-010 |
| Material contracts / insurance | not_publicly_verifiable in this public-only run | Provide material customer/supplier contracts, insurance policies and indemnities. | high | EC-010 |
VIII.B Pending lawsuits initiated by Company
not publicly verifiable confidence: low
Material contracts, regulatory history, IP schedules, insurance, security and litigation status require counsel-led private diligence.
Evidence gaps
- Litigation docket schedule, regulatory correspondence, IP schedule, material contracts, insurance and security reports.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide counsel memo, docket search, regulatory correspondence, IP schedule, material contracts and insurance policies.
VIII.C Environmental and employee safety issues and liabilities
not publicly verifiable confidence: low
Material contracts, regulatory history, IP schedules, insurance, security and litigation status require counsel-led private diligence.
Evidence gaps
- Litigation docket schedule, regulatory correspondence, IP schedule, material contracts, insurance and security reports.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide counsel memo, docket search, regulatory correspondence, IP schedule, material contracts and insurance policies.
VIII.D Material patents, copyrights, licenses, and trademarks
not publicly verifiable confidence: low
Material contracts, regulatory history, IP schedules, insurance, security and litigation status require counsel-led private diligence. This section owns 1 table(s) and 0 figure(s).
Evidence gaps
- Litigation docket schedule, regulatory correspondence, IP schedule, material contracts, insurance and security reports.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide counsel memo, docket search, regulatory correspondence, IP schedule, material contracts and insurance policies.
| matter | jurisdiction or scope | public evidence or gap | verification status | evidence |
|---|---|---|---|---|
| Product safety / liability | Home and industrial robotics | Safety certifications, incident records and insurance not public | not_publicly_verifiable | EC-010 |
| IP portfolio | Robotics hardware/software/model IP | Patent/trademark schedule not collected in public sources reviewed | not_publicly_verifiable | EC-010 |
| Customer contracts | Commercial deployments | Indemnities, SLAs and cancellation terms not public | not_publicly_verifiable | EC-006 |
VIII.E Insurance coverage and material exposures
not publicly verifiable confidence: low
Material contracts, regulatory history, IP schedules, insurance, security and litigation status require counsel-led private diligence.
Evidence gaps
- Litigation docket schedule, regulatory correspondence, IP schedule, material contracts, insurance and security reports.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide counsel memo, docket search, regulatory correspondence, IP schedule, material contracts and insurance policies.
VIII.F Material contracts
not publicly verifiable confidence: low
Material contracts, regulatory history, IP schedules, insurance, security and litigation status require counsel-led private diligence.
Evidence gaps
- Litigation docket schedule, regulatory correspondence, IP schedule, material contracts, insurance and security reports.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide counsel memo, docket search, regulatory correspondence, IP schedule, material contracts and insurance policies.
VIII.G Regulatory agency problems
not publicly verifiable confidence: low
Material contracts, regulatory history, IP schedules, insurance, security and litigation status require counsel-led private diligence. This section owns 0 table(s) and 1 figure(s).
Evidence gaps
- Litigation docket schedule, regulatory correspondence, IP schedule, material contracts, insurance and security reports.
Hidden risks
- R-002 remains open until private diligence confirms the public-source gap.
- R-006 remains open until private diligence confirms the public-source gap.
Follow-up questions
- Provide counsel memo, docket search, regulatory correspondence, IP schedule, material contracts and insurance policies.
Evidence
| ID | Claim | Status | Sources |
|---|---|---|---|
| EC-001 | Figure AI has public unicorn-status evidence at a US$39B post-money valuation. | verified high | SRC-001SRC-002SRC-003 |
| EC-002 | Figure is developing autonomous general-purpose humanoid robots for home and commercial markets. | verified high | SRC-002SRC-004 |
| EC-003 | Series C proceeds are intended for scaling robots, AI infrastructure, manufacturing and data collection. | verified high | SRC-002 |
| EC-004 | Helix is Figure’s VLA system and has public technical claims but not third-party audited performance. | partially verified medium | SRC-005 |
| EC-005 | Figure has raised nearly US$2B since a 2022 founding according to press coverage. | partially verified medium | SRC-003 |
| EC-006 | Customer revenue, deployment count, safety incidents and margin economics are not publicly verifiable. | not publicly verifiable low | SRC-002SRC-004SRC-005 |
| EC-007 | Figure publicly names influential strategic investors and infrastructure dependencies. | verified high | SRC-002 |
| EC-008 | Public research did not find an IPO, acquisition, or shutdown signal for Figure AI by the research date. | inconclusive medium | SRC-001SRC-002SRC-004 |
| EC-009 | Humanoid robotics competition and commercialization risk are material. | partially verified medium | SRC-003SRC-004 |
| EC-010 | Legal, regulatory, safety certification, IP and insurance evidence requires private diligence. | not publicly verifiable low | SRC-002SRC-005 |
| ID | Publisher | Title | Accessed |
|---|---|---|---|
| SRC-001 | Wikipedia current unicorn list entry for Figure AI | Wikipedia current unicorn list entry for Figure AI | — |
| SRC-002 | Figure PR Newswire Series C announcement | Figure PR Newswire Series C announcement | — |
| SRC-003 | TechCrunch | TechCrunch: Figure reaches US$39B valuation | — |
| SRC-004 | Figure homepage | Figure homepage | — |
| SRC-005 | Figure Helix technical article | Figure Helix technical article | — |
Disclaimer
This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.