Ultra raises $62M and deepens ties with robot-brain startup Physical Intelligence

Ultra Rents Robots to Warehouses with $62M Investment

Funding Round

Ultra has raised $62 million in two parts, with a $50 million Series A led by Framework Ventures and Y Combinator participating, and a $12 million seed round led by Y Combinator and Next View.

Partnership Expansion

The company has expanded its partnership with Physical Intelligence, the AI company building software that serves as a robot's brain.

Robot Capabilities

Ultra's robots are designed to handle packing, sorting, and kitting tasks inside e-commerce warehouses.

Autonomous Performance

Physical Intelligence's 0.6 model reportedly hit 96.4% autonomy during full shifts in real-world warehouse settings.

Business Model

Ultra's robots-as-a-service approach, or RaaS, lowers the upfront cost for warehouse operators, who might otherwise balk at buying machines outright.

Market Impact

The deal highlights a split that is becoming common in robotics: software and hardware developed by different companies.

Investor Sentiment

The round signals continued appetite for robotics companies that can show revenue, not just research.