Robotics
2h ago
Ultra secures $62 million funding and partners with AI firm Physical Intelligence
Oct 9, 2026
AI Summary
Ultra, a startup specializing in leasing robots for warehouse operations, has raised $62 million in funding. The company has also announced a partnership with AI firm Physical Intelligence to enhance its robotic capabilities.
- Ultra raised $62 million, consisting of a $50 million Series A led by Framework Ventures and a $12 million seed round from Y Combinator and Next View.
- The company operates on a 'robots as a service' model, allowing clients to pay an integration fee and a monthly fee for support, avoiding large upfront costs.
- Ultra's robots have processed over half a million shipping orders and are installed in various third-party logistics sites across the U.S.
- The partnership with Physical Intelligence focuses on integrating advanced AI into Ultra's robots, enhancing their learning and operational efficiency.
- Ultra's CEO Jon Miller Schwartz emphasizes the practical impact of non-humanoid robots in logistics compared to humanoid robots, which face deployment challenges.
- The collaboration allows Ultra to concentrate on hardware while leveraging Physical Intelligence's expertise in AI, reflecting a strategic division of labor in the robotics industry.
robots as a servicefundingai researchphysical intelligenceseries a