New Partnership between Robotics Company 1X and EQT’s Portfolio Companies

In an exciting development, robotics company 1X has secured a strategic partnership with EQT’s portfolio companies to provide thousands of its humanoid robots for industrial use. This partnership stems from EQT Ventures, one of 1X’s investors, showing interest in deploying the innovative robots across its extensive network of over 300 portfolio companies.

The agreement entails the delivery of up to 10,000 units of 1X’s Neo humanoid robots between 2026 and 2030 to EQT’s portfolio companies, with a primary focus on industries such as manufacturing, warehousing, logistics, and other industrial applications.

1X will be entering into individual agreements with each of EQT’s interested portfolio companies to facilitate the seamless integration of the humanoid robots into their operations.

What makes this partnership particularly intriguing is that 1X’s Neo humanoid robots, initially designed for personal use, are now being positioned for industrial applications. Unlike some of its competitors, such as Figure, which primarily target commercial markets, 1X is leveraging its consumer-ready humanoid robot for industrial purposes through this collaboration with EQT’s portfolio companies.

While 1X does offer an industrial robot, Eve Industrial, this partnership specifically focuses on the Neo humanoid model, showcasing the versatility of 1X’s robotics technology.

The Neo humanoid robot, priced at $20,000, was initially marketed for home use, emphasizing its ability to assist with household chores and interact with individuals. However, its integration into industrial settings through EQT’s portfolio companies signifies a strategic shift in its target market.

This strategic shift towards industrial applications is understandable, considering the challenges associated with widespread adoption of humanoid robots for personal use. Factors such as pricing, privacy concerns (including the ability of human operators to monitor through the robot’s cameras), and safety considerations around pets and children pose significant barriers to consumer adoption.

Despite these challenges, 1X remains optimistic about the potential of its Neo humanoid robot, with preorders reportedly exceeding expectations. The company, founded in 2014, has raised substantial funding of over $130 million from prominent investors like EQT Ventures, Tiger Global, and the OpenAI Startup Fund.