Investors bet on a ‘ChatGPT moment’ for robots as Generalist hits $3B valuation

Some venture investors are betting robotics is nearing its own “ChatGPT moment,” when machines can handle a wide range of tasks without being trained for each one. The latest sign is Generalist, a two-year-old startup developing a single AI model for different kinds of robots. The company has reached a $3 billion valuation after raising close to $200 million in an extension led by 8VC, according to two people familiar with the terms who spoke to TechCrunch.

The timing is important since the investments are being made before the scientific advances. Axios, which was the first to announce the investment round, mentions that the money “is flying fast” into companies that create “robot brains“, i.e., software created to help machines interpret and act within the world around them. However, is this investment going to lead to any significant development?

Why the round is an extension, not a fresh raise

The new capital is not a new round. It is simply an extension of the $400 million Series B Generalist funding round announced in June, with participation from Radical Ventures at a valuation of $2 billion. The extension brings the total funding amount for the round to $600 million.

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