How much has 1X Technologies raised?

1X has $136.5M in confirmed equity: $23.5M in the March 2023 Series A2 and $100M in the January 2024 Series B. The Series A2 priced at a $210M post-money valuation; the Series B at $820M post-money. Both rounds were entirely equity with no disclosed debt or venture debt facilities as of June 2026.

Beyond the confirmed total, in September 2025 the company disclosed discussions to raise up to $1B at a targeted valuation of $10B or more. The formal close of this Series C has not been publicly confirmed in press releases, SEC filings, or company announcements as of June 2026. Tracxn, Crunchbase, and PitchBook each continue to show total confirmed funding at $136.5M. If completed at the reported terms, total raised would exceed $1.1B.

The OpenAI Startup Fund led the Series A2 in March 2023, bringing strategic credibility at the intersection of large language models and embodied robotics — a signal that OpenAI views humanoid hardware as a necessary layer for its AI roadmap. Tiger Global co-invested in both the A2 and B, providing growth-stage conviction across rounds. Alliance VC (Norwegian), Sandwater, and Skagerak Capital provided Nordic institutional support in the A2.

EQT Ventures led the $100M Series B, joined by Samsung NEXT, Nistad Group (a long-running family backer from the Halodi era), and continuing investors. EQT's involvement is uniquely strategic: as one of the world's largest private equity firms with 300+ portfolio companies in manufacturing, logistics, and warehousing, EQT converted from investor to anchor commercial customer in December 2025 when it committed those portfolio companies to up to 10,000 NEO units between 2026 and 2030. This dual investor-customer structure is rare in venture and materially de-risks 1X's enterprise revenue ramp.

The jump from $210M post-money (March 2023) to $820M post-money (January 2024) to $10B+ targeted (September 2025) reflects two forces operating simultaneously: sector re-rating driven by Tesla Optimus momentum and Goldman Sachs's $38B-by-2035 humanoid market projection, and 1X's own concrete de-risking milestones — from prototype to hundreds to thousands of beta homes active, first-year production sold out within five days of pre-orders, and a 10,000-unit EQT anchor enterprise deal signed.

The 12x step-up from $820M to $10B+ in under two years is aggressive but not without sector precedent. Figure AI was reported at a ~$39B valuation in its 2025 funding round, setting a high-end peer ceiling. Investors are pricing in the possibility that a consumer-deployed general-purpose humanoid at scale could be as economically transformative as the smartphone. The homes-before-factories strategy, if it generates compounding training data advantages that cannot be replicated by factory-only deployments, could justify that multiple.

1X is not profitable. The company is in heavy investment mode: scaling manufacturing from prototype to 10,000 units annually at the Hayward NEO Factory, planning a San Carlos facility targeting 100,000 units per year by end of 2027, operating an 80,000 sq ft Palo Alto headquarters, maintaining 1,049+ employees as of April 2026, and continuously training AI models on in-home robot data. Latka estimated 2025 revenue at $222.5M, but this figure is unaudited and the company does not publicly disclose financials. EVE's ADT contract contributed approximately $7M annually at a production cost exceeding that revenue per unit, confirming the company has been selling into negative gross margin to accumulate real-world data.

An IPO has not been signaled by management. The current fundraising posture — seeking up to $1B at $10B+ — suggests at least one more private capital raise before public markets become relevant. CEO Børnich has publicly set production milestones of 100,000 units by end of 2027 and millions of units by 2028, which are the commercial proof points that would support a public offering narrative.

A company in active infrastructure-buying mode targeting $1B in new capital is unlocking budget for cloud GPU training infrastructure, enterprise security and identity platforms, data labeling and annotation tools, ERP and finance systems, and the HRIS and payroll platforms needed to grow from 1,049 toward potentially 2,500+ employees over 18–24 months. The pace of headcount growth — from 663 in September 2025 to 1,049 by April 2026 — already signals that vendor procurement is accelerating.

The manufacturing-centric leadership team (Vikram Kothari, VP of Operations, ex-SpaceX and Microsoft) is the primary budget owner for factory-floor tooling, supply chain software, and manufacturing execution systems. The newly established World Model Lab (led by Samarth Sinha, ex-Luma AI) is the AI/ML infrastructure buyer for GPU compute, data infrastructure, and vector database platforms. Sellers in enterprise SaaS, cloud, robotics simulation, and operations software should note that the EQT relationship means 1X will increasingly face enterprise-grade procurement standards — an opportunity for vendors with strong enterprise compliance stories.