# Apptronik revenue, valuation & funding

Markdown copy of https://realalpha.app/companies/apptronik/ on Real Alpha, the best minutes from long interviews with the people building AI. Cite and link the page, not this copy.

Apptronik was valued at more than $5.5 billion in February 2026, when Bloomberg reported it raised about $520 million. It's a private company with no stock ticker, has announced no IPO plans and has published no revenue figures.

Checked Nov 7, 2026

## At a glance

- Valuation: more than $5.5 billion after raising about $520 million in February 2026, as Bloomberg reported.
- Revenue: not disclosed. Apptronik hasn't published revenue or a run rate.
- Status: private. No stock ticker. No IPO plans announced as of September 2026.
- Founded: 2016, out of the Human Centered Robotics Lab at the University of Texas at Austin, by Jeff Cardenas and Nick Paine.
- CEO: Jeff Cardenas, co-founder.
- Investors: B Capital, Capital Factory, Google, Mercedes-Benz, PEAK6, AT&T Ventures, John Deere and the Qatar Investment Authority, among others.
- Products: the Apollo humanoid robot, Apollo 2 (unveiled June 2026), and a subsidiary for non-humanoid industrial automation.
- Headquarters: Austin, Texas.

## Is Apptronik public? Can you buy its stock?

No. Apptronik is a private company, so its shares don't trade on any stock exchange and it has no ticker symbol.

As of [Forge Global's](https://forgeglobal.com/insights/how-to-invest-in-apptronik-stock-pre-ipo/) September 2026 update, Apptronik had not announced any IPO plans. No listing date has been announced.

Its shares are held by its founders, staff and investors, including B Capital, Google and Mercedes-Benz. This page reports facts and gives no investment advice.

## Valuation, round by round

Bloomberg reported a valuation above $5.5 billion in February 2026, around three times its initial Series A valuation.

- Feb 2026 · $5.5B+ · about $520M · — · [Apptronik (In The News, quoting Bloomberg)](https://apptronik.com/company/in-the-news)
- Mar 2025 · — · $403M · B Capital and Capital Factory · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-closes-additional-series-a-funding)
- Feb 2025 · — · $350M · B Capital and Capital Factory · [GlobeNewswire (Apptronik press release)](https://www.globenewswire.com/news-release/2025/02/13/3025687/0/en/apptronik-raises-350-million-to-scale-production-of-ai-powered-humanoid-robots-and-meet-significant-customer-demand.html)

Sacra cites TechCrunch for a February 2026 figure of about $5.3 billion, which isn't confirmed by a primary report. In November 2025, The Information reported talks at $5 billion before the new money.

## How Apptronik makes money

Apptronik sells its Apollo humanoid robots to businesses for work in factories, warehouses and stores. Customers can pay in two ways, according to [Sacra](https://sacra.com/c/apptronik/).

- **Robot-as-a-Service.** Customers pay a subscription fee to use the robots. Sacra says logistics providers prefer this model. · [Sacra](https://sacra.com/c/apptronik/)
- **Outright purchase.** Customers buy the robots as a capital expense. Sacra says manufacturers prefer to own them. · [Sacra](https://sacra.com/c/apptronik/)

## Products

- **Apollo.** Its flagship humanoid robot, offered for manufacturing, warehouse and retail work. It comes with bipedal or wheeled mobility. · [Apptronik's website](https://apptronik.com)
- **Apollo 2** (June 30, 2026). The second version of Apollo, unveiled in Austin alongside Robot Park, a facility for training robots, as Reuters reported. · [Reuters (via StreetInsider)](https://www.streetinsider.com/Reuters/Apptronik+launches+robot+training+hub,+unveils+Apollo+2+humanoid+robot/26709962.html)
- **Non-humanoid automation** (June 24, 2025). A wholly owned subsidiary that automates industrial tasks beyond what a human form can do. Paul Hvass runs it as CEO. · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-announces-creation-of-elevate-robotics)
- **[Google DeepMind](https://realalpha.app/companies/#google-deepmind) partnership.** In March 2025 the two announced a strategic partnership to build the next generation of humanoid robots. · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-closes-additional-series-a-funding)

## Customers

Apptronik hasn't published a customer count. In March 2025 it said its Series A would support customer demand in automotive, electronics manufacturing, third-party logistics, beverage bottling and consumer goods ([Apptronik](https://apptronik.com/news-collection/apptronik-closes-additional-series-a-funding)).

- **Mercedes-Benz** is testing Apollo for intralogistics and quality checks at its Berlin Digital Factory Campus, according to Sacra. It's also an investor. · [Sacra](https://sacra.com/c/apptronik/)
- **GXO** signed what Apptronik called a foundational commercial engagement in the year before March 2025. · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-closes-additional-series-a-funding)
- **Jabil** began a pilot with Apptronik in February 2025 to build Apollo robots and use them in its own manufacturing. · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-closes-additional-series-a-funding)

## Leadership

Apptronik had over 150 employees in March 2025, according to its [press release](https://apptronik.com/news-collection/apptronik-closes-additional-series-a-funding). [Sacra](https://sacra.com/c/apptronik/) put the count at about 300 in February 2026.

- **Jeff Cardenas,** co-founder and CEO. · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-announces-creation-of-elevate-robotics)
- **Nick Paine,** co-founder and CTO. · [Apptronik's website](https://apptronik.com/company/leadership)
- **Kay Sheils Kingsbury,** chief financial officer. · [Apptronik's website](https://apptronik.com/company/leadership)
- **Barry Phillips,** chief commercial officer, over sales, marketing, business development and customer success. · [Apptronik's website](https://apptronik.com/company/leadership)
- **Daniel Chu,** chief product officer. · [Apptronik's website](https://apptronik.com/company/leadership)
- **Steve O'Dea,** chief operating officer, leading engineering, manufacturing, field service and IT. · [Apptronik's website](https://apptronik.com/company/leadership)
- **Rachel Salamone,** chief people officer. She held the same role at Boston Dynamics. · [Apptronik's website](https://apptronik.com/company/leadership)
- **Paul Hvass,** CEO of Apptronik's industrial automation subsidiary, which operates independently. He co-founded Plus One Robotics. · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-announces-creation-of-elevate-robotics)

## Who owns Apptronik?

Its founders, staff and investors. As a private company it doesn't publish who holds what.

[Reuters](https://www.aol.com/news/mercedes-benz-takes-stake-robotics-150148224.html) reported in March 2025 that Mercedes-Benz invested "a low double-digit million-euro sum" in Apptronik.

- **B Capital and Capital Factory** co-led the $350 million Series A in February 2025. · [GlobeNewswire (Apptronik press release)](https://www.globenewswire.com/news-release/2025/02/13/3025687/0/en/apptronik-raises-350-million-to-scale-production-of-ai-powered-humanoid-robots-and-meet-significant-customer-demand.html)
- **Google** took part in the February 2025 Series A. · [GlobeNewswire (Apptronik press release)](https://www.globenewswire.com/news-release/2025/02/13/3025687/0/en/apptronik-raises-350-million-to-scale-production-of-ai-powered-humanoid-robots-and-meet-significant-customer-demand.html)
- **Mercedes-Benz** invested in March 2025, as Reuters reported. · [Reuters (via AOL)](https://www.aol.com/news/mercedes-benz-takes-stake-robotics-150148224.html)
- **PEAK6** was an existing investor in the February 2026 extension, alongside B Capital, Google and Mercedes-Benz, according to Sacra. · [Sacra](https://sacra.com/c/apptronik/)
- **AT&T Ventures, John Deere and the Qatar Investment Authority** joined as new investors in the February 2026 extension, according to Sacra. · [Sacra](https://sacra.com/c/apptronik/)

## Competitors

[Sacra](https://sacra.com/c/apptronik/) names other humanoid robot makers as Apptronik's rivals. Some have large corporate owners behind them.

- **Tesla,** with its Optimus robot. · [Sacra](https://sacra.com/c/apptronik/)
- **[Figure](https://realalpha.app/companies/figure/) and [Agility Robotics](https://realalpha.app/companies/#agility-robotics),** which also build humanoid robots. · [Sacra](https://sacra.com/c/apptronik/)
- **Boston Dynamics,** owned by Hyundai Motor Group. · [Sacra](https://sacra.com/c/apptronik/)

## Timeline and latest news

- Sep 9, 2026 · Forge Global noted that Apptronik had not announced IPO plans. · [Forge Global](https://forgeglobal.com/insights/how-to-invest-in-apptronik-stock-pre-ipo/)
- Jun 30, 2026 · Unveiled Apollo 2 and the Robot Park training facility in Austin. · [Reuters (via StreetInsider)](https://www.streetinsider.com/Reuters/Apptronik+launches+robot+training+hub,+unveils+Apollo+2+humanoid+robot/26709962.html)
- Feb 11, 2026 · Raised about $520 million at a valuation above $5.5 billion, Bloomberg reported. · [Apptronik (In The News, quoting Bloomberg)](https://apptronik.com/company/in-the-news)
- Feb 11, 2026 · AT&T Ventures, John Deere and the Qatar Investment Authority joined the round, per Sacra. · [Sacra](https://sacra.com/c/apptronik/)
- Feb 2026 · Headcount reached about 300, according to Sacra. · [Sacra](https://sacra.com/c/apptronik/)
- Nov 2025 · The Information reported talks to raise at least $400 million at a $5 billion valuation. · [Humanoids Daily](https://www.humanoidsdaily.com/news/apptronik-reportedly-seeking-over-400m-at-5b-valuation-amid-humanoid-capital-race)
- Jun 24, 2025 · Launched a wholly owned subsidiary for non-humanoid industrial automation. · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-announces-creation-of-elevate-robotics)
- Mar 18, 2025 · Closed an oversubscribed $403 million Series A, adding $53 million. · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-closes-additional-series-a-funding)
- Mar 18, 2025 · Mercedes-Benz invested a low double-digit million-euro sum, Reuters reported. · [Reuters (via AOL)](https://www.aol.com/news/mercedes-benz-takes-stake-robotics-150148224.html)
- Mar 2025 · Announced a strategic partnership with Google DeepMind on humanoid robots. · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-closes-additional-series-a-funding)
- Feb 13, 2025 · Closed a $350 million Series A co-led by B Capital and Capital Factory. · [GlobeNewswire (Apptronik press release)](https://www.globenewswire.com/news-release/2025/02/13/3025687/0/en/apptronik-raises-350-million-to-scale-production-of-ai-powered-humanoid-robots-and-meet-significant-customer-demand.html)
- Feb 2025 · Announced a pilot with Jabil to build Apollo robots and use them in Jabil's plants. · [Apptronik's press release](https://apptronik.com/news-collection/apptronik-closes-additional-series-a-funding)

## Questions people ask

### Is Apptronik a public company? Can I buy Apptronik stock?

No. Apptronik is private and has no ticker, so its shares aren't sold on any exchange. It hasn't announced IPO plans.

### When will Apptronik IPO?

It hasn't said. As of [Forge Global's](https://forgeglobal.com/insights/how-to-invest-in-apptronik-stock-pre-ipo/) September 2026 update, it had not announced any IPO plans.

### Who owns Apptronik?

Its founders, staff and investors, including B Capital, Capital Factory, Google, Mercedes-Benz, PEAK6, John Deere and the Qatar Investment Authority. Most stakes haven't been disclosed.

### Who is the CEO of Apptronik?

Jeff Cardenas, who co-founded the company with CTO Nick Paine.

### Who founded Apptronik?

Jeff Cardenas and Nick Paine, in 2016. The company started out of the Human Centered Robotics Lab at the University of Texas at Austin.

### How much is Apptronik worth?

More than $5.5 billion after its February 2026 round, according to [Bloomberg, via Apptronik](https://apptronik.com/company/in-the-news). Sacra cites TechCrunch for about $5.3 billion, which isn't confirmed.

### How much revenue does Apptronik make?

It hasn't disclosed revenue, and no figure has been reported by the company or news outlets.

### How does Apptronik make money?

It sells Apollo robots outright or as a subscription service, according to [Sacra](https://sacra.com/c/apptronik/).

### Where is Apptronik headquartered?

Austin, Texas.

### Who are Apptronik's competitors?

Tesla with Optimus, Figure, Agility Robotics and Boston Dynamics, according to [Sacra](https://sacra.com/c/apptronik/).

## How this page is sourced

Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it.