Stockholm-based private equity firm EQT AB is set to facilitate the deployment of 10,000 humanoid robots across its portfolio companies through a partnership with a robotics startup it backs, 1X Technologies AS, according to a report by Bloomberg.
The Norwegian developer, backed by EQT and other investors including OpenAI’s startup fund and Tiger Global, will produce the bipedal units for businesses in sectors ranging from manufacturing to nursing homes. Shipments are scheduled to begin next year and continue through 2030, with units available for purchase or lease.
EQT is not purchasing the robots directly but will coordinate the deliveries and has negotiated portfolio-wide discounts. Each robot, branded Neo, costs $20,000 or can be leased monthly, and is capable of performing autonomous tasks, according to 1X Technologies.
The deal reflects broader trends in private equity, where firms are increasingly backing robotics and AI technology to enhance operations across their holdings. EQT, with €267bn ($313bn) in assets under management and over 300 portfolio companies, has previously invested multiple times in 1X Technologies, including leading a $100m round in 2024.
1X Technologies moved its headquarters to Palo Alto, California, earlier this year and has marketed Neo as a home and industrial automation solution, with plans to scale production significantly.
