{
  "id": 13098821,
  "title": "Ultra raises $62 million for fast-growing ‘robots as a service’ business, announces tie-up with AI research firm Physical Intelligence",
  "url": "https://urgent.news/2026/10/09/ultra-raises-62-million-for-fast-growing-robots-as-a-service-business",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-09T10:33:05.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/09/ultra-raises-62-million-fast-growing-robots-service-tie-up-ai-research-firm-physical-intelligence/"
  },
  "original_language": "en",
  "account": "Ultra, a Brooklyn-based startup offering \"robots as a service\" to warehouses, has recently raised $62 million in funding, bolstering its growth and strategic partnership. The company, co-founded by Jon Miller Schwartz, specializes in deploying humanoid robots for shipping and packing goods. In a recent interview, Schwartz emphasized that other types of robots are making a significant impact in the real world, as opposed to humanoid robots often seen in movies. Ultra's funding comprised a $50 million Series A led by Framework Ventures and Y Combinator, as well as an earlier $12 million seed round led by Y Combinator and Next View. The company's success stems from its as-a-service business model, where clients pay a one-time integration fee and a monthly fee for ongoing hardware and software support. Ultra has partnered with Physical Intelligence, an AI research firm valued at $5.6 billion, to supply AI that enables robots to learn and adapt to various customer environments. While Schwartz predicts humanoid robots will become more common in five years, Ultra's robots already serve over half a million orders for shipping in warehouses across the country.",
  "summary": "The raise consisted of a Series A seed round led by Framework Ventures plus an earlier seed round.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}