Humanoid robots

NEO, the next 1X robot

Today it was announced that Alliance VC, together with OpenAI, Tiger Global and others, has invested in Norwegian 1X. 1X makes androids (humanoid robots), which is a more futuristic business than most startups we invest in.

My colleague Arne Tonning has written a Medium post about how Alliance got to the investment in 1X. Go read it!

In addition to the specific story there are some more general takeaways:

  • Arne and Alliance first met 1X in 2017, and got to know the founders over several years before making the investment.
  • 1X always had a very ambitious vision, which was attractive already in 2017.
  • There was a true innovation in the electric motor the company had developed.
  • Over the years 1X solved many hard problems and added additional solutions in e.g. software and other to the electric motor innovation. This took the technology to a level where customers have put in significant initial orders.
  • It is easier to succeed with the right investor mix, and we believe 1X has created a strong alliance of institutional and individual investors.

Author: Henrik Torstensson

Partner at Alliance VC. Investing in Nordic early-stage tech startups.

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