Saudi Aramco in talks to back Humanoid at unicorn valuation

Saudi oil giant Saudi Aramco is in discussions for a significant investment in London-based robotics startup Humanoid. The potential deal would value the company at around $1 billion, positioning Humanoid as a "unicorn" – a startup with a valuation exceeding $1 billion. Sources indicate Humanoid is seeking between $70 million and $100 million in this funding round.

Humanoid, established in 2023, is developing two distinct robot models: one for industrial environments and another intended for domestic use. The company has previously secured funding from notable investors, including Initialized Capital and other U.S.-based venture capital firms.

Aramco Ventures, the venture capital arm of Saudi Aramco, has been actively investing in the technology sector, with a focus on deep tech companies. This potential investment in Humanoid aligns with the broader strategic goals of Saudi Aramco to diversify its economy and invest in emerging technologies beyond oil.

The technology underpinning Humanoid's robots is partly derived from the U.S. Department of Defense's Almar program. The company has released footage demonstrating its robots performing complex tasks, such as opening doors and manipulating objects, showcasing advanced dexterity.

If finalized, the investment from Saudi Aramco would represent a significant endorsement for Humanoid's technological advancements and its ambitions in the robotics market. Competitors in this space include major players like Tesla and Figure AI.