SoftBank Reportedly Backing Skild AI with $500Mil Round at a $4Bil Valuation
SoftBank Group is in advanced talks to lead a $500Mil funding round for Skild AI, the East Liberty-based robotics and AI startup. If finalized, the deal would value the two-year-old Carnegie Mellon spinout at $4Bil, doubling its valuation from its $300 Mil Series A round just six months ago.
While Skild has remained largely quiet since its initial announcement last year—aside from occasional job postings—this potential investment underscores its status as one of the most closely watched companies in Pittsburgh’s startup ecosystem.
Skild AI: Redefining Robotics with General-Purpose Intelligence
Founded in 2023 by CMU professors Deepak Pathak and Abhinav Gupta, Skild AI has rapidly emerged as a leader in developing foundational AI models for robotics. The company’s flagship technology, the "Skild Brain,” is designed to power robots across diverse environments and hardware platforms. Unlike traditional robotics systems that rely on task-specific programming, the Skild Brain allows robots to adapt autonomously to new tasks and settings, making it applicable across manufacturing, construction, healthcare, and security industries.
Skild’s vision is ambitious: to make robots as versatile and ubiquitous as smartphones. By addressing labor shortages and automating dangerous or repetitive tasks, the company aims to revolutionize industries that rely on physical labor.
SoftBank’s Strategic Investment
SoftBank’s interest in Skild AI aligns with its broader strategy of investing in transformative technologies that bridge artificial intelligence and real-world applications. Masayoshi Son, SoftBank’s CEO, has long championed artificial general intelligence (AGI) as a cornerstone of future innovation, making Skild AI a natural fit for the firm’s portfolio.
SoftBank also participated in Skild’s Series A round in July 2024 alongside high-profile investors such as Jeff Bezos (via Bezos Expeditions), Lightspeed Venture Partners, Coatue Management, and Sequoia Capital. This latest round would deepen SoftBank’s commitment to Skild AI and reinforce its confidence in the startup’s ability to redefine robotics.
A Fierce Competitive Landscape
Skild AI operates in a fiercely competitive robotics market, where other players are also making significant strides in developing general-purpose robotics platforms. Figure AI, for instance, raised a $675Mil Series B funding in February 2024 at a $2.6Bil valuation, with backing from prominent investors such as Microsoft, OpenAI, Nvidia, and Jeff Bezos through Bezos Expeditions. The funding is being used to accelerate the development of humanoid robots designed for tasks in industries like manufacturing and logistics, focusing on addressing labor shortages and automating repetitive or dangerous jobs.
Similarly, Physical Intelligence secured $400Mil in November 2024 at a $2Bil valuation. The company is focused on creating foundational software that works across various robots, moving away from task-specific programming. Its approach aims to enable robots to perform diverse activities—such as folding laundry or bagging groceries—using a single adaptable AI model. Their recent round was led by Jeff Bezos and included participation from Thrive Capital, Lux Capital, and OpenAI.
Despite this already crowded field, Skild AI distinguishes itself by emphasizing adaptability and scalability. Its "Skild Brain" foundational model is designed to power robots across various hardware platforms and adapt to new tasks and environments autonomously across industries like construction, healthcare, and manufacturing.
This deal marks another milestone for Pittsburgh’s global prominence in robotics and AI. Over the past year, Pittsburgh has seen increasing venture capital activity concentrated in fewer but larger deals. Last year, our city recorded $650Mil in total venture funding across 67 deals, with robotics and AI emerging as dominant sectors. Last year, Skild’s Series A round was already the largest VC deal in Pittsburgh’s history; this new funding would further cement it as a historical regional standout.
What’s Next?
If finalized, this funding will enable Skild AI to scale its technology further, expand its workforce across its East Liberty headquarters and Silicon Valley office, and accelerate commercialization efforts across multiple industries, including manufacturing, construction, and healthcare, enabling broader adoption of its adaptable robotics platform.