COMPANY PROFILE / DRONES AND ROBOTICS
Figure AI
A private humanoid-robot company that says it will own the robot, the AI, the factory and the training data
Figure AI is a private U.S. company that builds a human-shaped robot (a humanoid) and the AI model that drives it, called Helix. It introduced its third-generation robot, Figure 03, in October 2025, and said in April 2026 that its own factory, BotQ, had shipped more than 350 third-generation robots. Trials at a BMW plant, in a logistics centre and in homes are described, but all of these are the company’s own announcements, and how far each one says the work was autonomous or remotely operated, how many robots took part, for how long, and whether anyone checked it independently differs from post to post. This profile sticks to the company’s website and its SEC Form D, and does not touch valuations or investment views. Check date: 25 October 2026.
- Figure AI in 30 seconds, and where it stands in drones and robotics
- The logo and how the name is written
- Where the company sits in drones and robotics
- Scale
- Resources committed to drones and robotics
- What it has done so far
- What comes next
- What the company is aiming for in drones and robotics
- Map of partnerships in drones and robotics
- Technology, products and services
- The risks this company carries
- Glossary
- References
- Claim-to-source audit
1. Figure AI in 30 seconds, and where it stands in drones and robotics
Figure AI says it will own four things: the robot body, its brain (AI), the factory and the training data Sourced. The body is Figure 03, the brain is Helix, the factory is BotQ, and the data comes from Index, an app that collects videos of people at work. At the same time, almost every demonstration or deployment result comes from the company’s own web posts. For example, “contributed to the production of more than 30,000 cars” at BMW is the company’s own tally, and we found no independent check of it. When you read such claims, look at what the company says and what conditions it gives.
2. The logo and how the name is written
A note on names: the legal name is Figure AI Inc. (SEC filing), but the company’s own site often just says “Figure”. Robot generations are written both as “Figure 02” and “F.02”, which mean the same thing. Do not confuse it with other firms with similar names. The logo is the file used in the header of the official site.
Official site: https://www.figure.ai/3. Where the company sits in drones and robotics
Companies in drones and robotics are easier to understand if you sort them into four types by what they build and who buys it. Figure AI is mainly a humanoid and physical-AI company: it builds human-shaped robots that learn with AI. Physical AI means AI that moves real objects, not just text or images on a screen. Its secondary type is components and enabling software, because it says it designs its own actuators (the parts that move the joints), batteries and sensors Sourced.
The “weakness” row in the figure is a general remark about the type as a whole, not a judgement of Figure AI.
4. Scale
Figure AI is private and does not publish revenue, headcount or profit. This table lists what we could confirm (check date: 25 October 2026).
| Item | What we could confirm | Type |
|---|---|---|
| Founding | The SEC Form D gives 2023 as the year of incorporation. The company site says its first robot, F.01, took its first steps in May 2023 | Sourced |
| Revenue and profit | Not disclosed in the SEC filing or official posts. We do not estimate them | Sourced |
| Employees | Not disclosed. The site describes a team with “over 100 years of combined AI and humanoid experience”, which is not a headcount | Sourced |
| Funding (Series B) | Form D: offering of US$675,000,000, US$674,981,967 sold, 45 investors. First sale 27 February 2024 | Sourced |
| Funding (Series C) | Announced 16 September 2025: more than US$1 billion in committed capital, led by Parkway Venture Capital, with Brookfield, NVIDIA, Intel Capital and others | Sourced |
| Valuation | It appears in the company post, but this profile does not cover valuations or investment views, so it is not reproduced | – |
Amounts are in the original currency (US$). The Series B figure is the total offering stated in the Form D.
A Form D is a notice to the SEC of a private fundraising. It is not a statement of the company’s finances. All we could confirm about money is the offering size and the number of investors. Revenue and profit are not disclosed, so we cannot give them.
5. Resources committed to drones and robotics
This table shows whether we could confirm each of four resources (people, money, outside investments or acquisitions, and ties with universities or public bodies) in official posts and the SEC filing. “Not stated” is also a result.
| Resource | What we could confirm | Type |
|---|---|---|
| People | Headcount is not disclosed. The 29 April 2026 post says it built its own service, support and fleet-management systems, with no numbers | Sourced |
| Money: manufacturing | Its own factory, BotQ. The first-generation line can build up to 12,000 robots a year, with a goal of 100,000 in total over four years (October 2025). In April 2026 it said it had qualified hundreds of suppliers, put more than 50 inspection points in the line, and run 80+ functional tests on every robot (company description) | Sourced |
| Money: compute | Nscale partnership (3 September 2026): up to 100,000 GPUs, an initial compute commitment of US$3.5 billion with intent to scale beyond US$6 billion, first deployment from the second half of 2027 in Texas | Sourced Not yet confirmed |
| Money: data | Through Index, US$15 million has been paid to data contributors (“Creators”) so far. It said it is committed to spending more than US$1 billion on data and compute over the next 12 months (25 August 2026) | Sourced |
| Outside investments, acquisitions, divestments | As a recipient: Series C investors (Brookfield, NVIDIA, Intel Capital and others) and a strategic investment from Nscale. No acquisition or sale of a business appears in the official news list (not confirmed) | Sourced |
| Universities, research bodies, public bodies | The official posts we read mention no joint research with universities, research institutes, NASA or DARPA | Not confirmed |
The table below lists the main robots, AI models and facilities that the company’s own materials let us confirm (check date: 25 October 2026). All specifications and results are company claims or company tallies.
| Name | Kind | Main specifications and results (company claims, with conditions) | Stage | Date | Reference |
|---|---|---|---|---|---|
| Figure 02 (F.02) | Second-generation humanoid | Eleven months at BMW’s Spartanburg plant, 10-hour shifts Monday to Friday, 90,000+ parts loaded, 1,250+ hours of run time, “contributed to” 30,000+ BMW X3s (company tally). The task was loading sheet-metal parts into a welding fixture. Targets: 84-second cycle, placement within 5 mm, zero human interventions | Retired (started November 2025; most of the fleet disposed of by the 30 September 2026 post) | 19 November 2025 | Reference 2 https://www.figure.ai/news/production-at-bmw Reference 13 https://www.figure.ai/news/f-02-decommission |
| Figure 03 (F.03) | Third-generation humanoid | Versus the previous generation: cameras with twice the frame rate, one-quarter the latency and a 60% wider field of view; 9% less mass; palm cameras; fingertip touch sensors (said to detect 3 g of force); 2 kW wireless charging through coils in the feet; battery said to be certified to UN38.3 | Shipping and in use (350+ shipped by April 2026) | 9 October 2025 (launch) / 29 April 2026 | Reference 1 https://www.figure.ai/news/introducing-figure-03 Reference 4 https://www.figure.ai/news/ramping-figure-03-production |
| Figure 03 at BMW | Demonstration at a customer | Parts “sequencing”: picking thin parts with both hands and pulling a cart while repositioning its feet, run by Helix 02 (company description). No number of robots, duration or statement on remote operation | Demonstration (company announcement) | 30 June 2026 | Reference 3 https://www.figure.ai/news/f-03-at-bmw |
| Helix 02 | AI model (VLA) | One neural network controls the whole body. A four-minute dishwasher task was shown as autonomous, not teleoperated (company claim). S0 is a 10-million-parameter network trained on 1,000+ hours of human motion data and in simulation | Published technical report | 27 January 2026 | Reference 5 https://www.figure.ai/news/helix-02 |
| Helix 2.5 | AI model (VLA) | Tested “zero-shot” in 30 unseen Bay Area homes on three tasks (tidying a room, folding towels, making a bed). Success rate 56% with Index pretraining versus 9% without (company’s blind evaluation; no independent verification found) | Research result | 17 September 2026 | Reference 6 https://www.figure.ai/news/helix-2-5-zero-shot-30-home-generalization |
| Index | Data-collection app | 264,000+ downloads, 44,000+ weekly users, 16 million+ videos (company figures as of 25 August 2026) | In service | 25 August 2026 | Reference 7 https://www.figure.ai/news/introducing-index |
“Zero-shot” means trying a task in a place where the robot was never trained (see the glossary). Apart from the battery’s UN38.3, we found no regulatory approval or certification.
6. What it has done so far
| When | What happened | Why it matters |
|---|---|---|
| May 2023 | The first-generation F.01 takes its first steps (company site) | Starting point of its humanoid work |
| 27 February 2024 | First sale in the Series B (Form D); US$675 million offered | A public record of fundraising |
| 7 June 2025 | Helix improvements in parcel sorting: handling time per package cut from about 5.0 s (the post gives both 4.05 s and 4.31 s), barcode-facing success up from about 70% to about 95% (company figures) | Shows the learning approach in logistics; conditions are the company’s own |
| 16 September 2025 | Announces Series C: more than US$1 billion committed | Said to fund manufacturing, compute and data collection |
| 17-18 September 2025 | Brookfield partnership and Project Go-Big (pretraining on human video) | Widens training data from robot operation to human video |
| 9 October 2025 | Introduces Figure 03; BotQ first-generation line up to 12,000 a year | A third generation redesigned for mass production |
| 19 November 2025 | Reports eleven months at BMW and starts retiring Figure 02 | Operating results as tallied by the company |
| 21 November 2025 | A former employee files suit in federal court (court record). The company filed an answer and counterclaims on 16 January 2026 | Pending. This profile does not judge the claims |
| 27 January 2026 | Introduces Helix 02 | Walking and manipulation under one AI |
| 29 April 2026 | Says BotQ shipped 350+ third-generation robots and now builds one an hour instead of one a day | The company’s account of ramping up |
| 26 May 2026 | Commercial agreement with Catalyst Brands, starting in Reno | A deployment agreement (numbers and term not disclosed) |
| 30 June 2026 | Figure 03 arrives at BMW Spartanburg and demonstrates parts sequencing | Demonstration (company announcement) |
| 25 August 2026 | Launches the Index data-collection app | Moves data sourcing in-house |
| 3 September 2026 | Partnership with Nscale for up to 100,000 GPUs | Securing compute |
| 17 September 2026 | Introduces Helix 2.5 (tested in 30 homes) | Presented as a result of learning from human video |
| 30 September 2026 | Retirement of Figure 02; mentions F.04 | Change of generation |
7. What comes next
Everything below is a company goal or plan, not something already achieved Not yet confirmed.
None of the following appears in the official posts we read Not yet confirmed.
The sale price of Figure 03; when it will be offered for homes; the number of robots and the period at BMW and Catalyst; any independent performance check after deployment; a third-party safety certification of the whole robot; and the specifications and timing of F.04. Home use is only described as “designed for the home”; we found no start of sales or supply.
8. What the company is aiming for in drones and robotics
This chapter includes readings the company does not state directly. They are inferences from official posts, shown with their basis.
| What we read | Primary basis | Type |
|---|---|---|
| It is aiming at both homes and commercial work | Figure 03 is said to be designed for Helix (the AI), for the home, and for the world at scale (Reference 1) | Sourced |
| It designs the robot, battery, sensors and electronics in-house and builds in its own factory | The Figure 03 post says actuators, batteries, sensors, structures and electronics are designed in-house; parts come from suppliers able to meet volume | Sourced |
| It is shifting the centre of learning from data gathered by operating robots to videos of people | Project Go-Big (September 2025), Index (August 2026), and Helix 2.5, where Index pretraining lifts success from 9% to 56% | Inference |
| It sees its current limit as compute and data | The Nscale post says the company is “largely bound by data and compute” | Sourced (company’s own view) |
| The number of robots actually working at customers may be small compared with the number built | The 350+ shipped robots are allocated to internal R&D, data collection, housework and commercial development. Numbers per customer are not disclosed | Inference |
The April 2026 post says robots shipped from BotQ are “allocated to internal research and development groups, data collection, efforts for robots to perform end-to-end housework, and commercial use-case development”, and that a larger fleet generates more data for Helix Sourced. So a good share of the shipped robots seems to serve as tools for collecting data and improving the system, not only as workers at customer sites. Together with the lack of per-customer numbers, we read the shipment count as not equal to the number of robots deployed at customers Not yet confirmed.
9. Map of partnerships in drones and robotics
10. Technology, products and services
Figure AI’s products are easiest to follow as four layers: the body (Figure 03), the brain (Helix), the factory (BotQ) and the data (Index).
| Layer | What it is | What the company says |
|---|---|---|
| Body | Figure 03 | Cameras with twice the frame rate, one-quarter the latency and a 60% wider field of view than before; a camera in each palm; fingertip touch sensors that detect 3 g of force; 10 Gbps millimetre-wave data offload; 2 kW wireless charging through the feet; 9% less mass than Figure 02 |
| Brain (AI) | Helix 02 / Helix 2.5 | Three layers, S2, S1 and S0 (see the illustration below). S0 is said to replace 109,504 lines of hand-written C++ with one neural network |
| Factory | BotQ | Builds key parts in-house rather than through contract manufacturers. Its own manufacturing execution system links 150+ workstations. Battery line first-pass yield 99.3%; 9,000+ actuators built in 10+ types (April 2026) |
| Data | Index | An app where people film their own tasks at home or work. Five-stage screening: filtering, fraud review, de-duplication, rebalancing and annotation. Per 1,000 hours: 373 tasks, 1,146 objects, 116 environments |
| Operations | Fleet management and over-the-air updates | A system that tracks robot health and location, wireless software updates, and processes for fleet-wide upgrades and recall campaigns |
Hands and skin: the Figure 03 fingertips use softer material to enlarge the contact area and give steadier grips. The company says commercial tactile sensors could not stand up to real use, so it built its own, guided by durability, long-term reliability and fidelity Sourced. Such sensors often pair a soft layer with an element that turns deformation into an electrical signal, but Figure has not published its structure or materials.
Heat in the forearm: the biggest hardware failure point at BMW was the Figure 02 forearm. It packs three joints and wiring into a small space and has tight limits on heat. For Figure 03 the company removed the forearm relay board and moving cables, so each wrist’s motor controller talks directly to the main computer Sourced.
Soft cover and battery: Figure 03 is covered in multi-density foam to protect against pinch points and in washable textiles that can be swapped without tools; cut-resistant fabrics are an option. The battery has four layers of protection (battery management system, cell, interconnect and pack) and is said to be certified to the UN transport test standard UN38.3 Sourced (UN38.3 is a shipping safety test, not a safety certification of the robot).
Parts made for volume: Figure 02 was mostly machined, while Figure 03 relies far more on die-casting, injection moulding and stamping. These need money for tooling up front, but the cost per unit falls as volumes grow.
11. The risks this company carries
| Risk | What it is | Type |
|---|---|---|
| Results are hard to check from outside | The BMW work, the 350+ shipments and Helix performance are all company announcements or tallies. We found no independent verification or customer confirmation | Sourced |
| Hardware reliability | The company says the forearm was the top failure point on Figure 02. It redesigned it for Figure 03, but has not published long-term failure rates for Figure 03 | Sourced |
| Safety around people | Figure 03 has home-oriented safety features (foam, textiles, battery protection), but we found no third-party safety certification of the whole robot. Safety standards for humanoids are still being drafted (see our explainer “How to read robot safety standards”) | Inference |
| Dependence on compute and data | The company itself says it is currently “largely bound by data and compute”. The compute plan starts from the second half of 2027 | Sourced Not yet confirmed |
| Handling of collected data | Index gathers videos filmed by ordinary people at home and work. The posts we read do not describe consent or privacy for people and places that appear in them | Sourced (not stated) |
| Litigation | A former employee filed suit in federal court on 21 November 2025; the company filed an answer and counterclaims on 16 January 2026 (court record). It is pending, and this profile does not judge either side | Sourced |
| Uncertain plans | 12,000 a year, 100,000 in four years and home supply are all company goals | Not yet confirmed |
12. Glossary
- Humanoid
- A robot shaped like a person (head, torso, two arms, two legs), so it can use spaces and tools made for people.
- Physical AI
- AI that works on real objects, not only on text or images on a screen.
- VLA (vision-language-action model)
- An AI that turns camera images and spoken instructions directly into robot movements. Helix is one.
- Zero-shot
- Trying a task in a place the system was never trained in.
- Actuator
- The part that moves a joint (typically a motor plus a gearbox).
- Tactile sensor
- A sensor on a fingertip or similar that feels the size of a touch force or slipping.
- UN38.3
- The United Nations test standard for shipping lithium batteries. It is not a safety certification of a robot.
- Loco-manipulation
- Walking and handling objects at the same time.
- Sequencing
- In a factory, picking parts and laying them out in the order they will be assembled.
- Teleoperation
- A person driving the robot remotely. Telling it apart from autonomy is key when reading demonstrations.
- Form D
- A notice to the U.S. SEC of a private fundraising. It does not contain the company’s financial statements.
- Vertical integration
- Owning the steps needed for a product, such as parts, assembly and software.
13. References
- Figure AI Introducing Figure 03 (9 October 2025). Design, cameras, touch sensing, charging and manufacturing (BotQ) of Figure 03. https://www.figure.ai/news/introducing-figure-03
- Figure AI F.02 Contributed to the Production of 30,000 Cars at BMW (19 November 2025). Eleven months of work at BMW and the forearm failures. https://www.figure.ai/news/production-at-bmw
- Figure AI F.03 Arrives at BMW (30 June 2026). Figure 03 demonstrates parts sequencing at BMW. https://www.figure.ai/news/f-03-at-bmw
- Figure AI Ramping Figure 03 Production (29 April 2026). BotQ shipments, production rate and yields. https://www.figure.ai/news/ramping-figure-03-production
- Figure AI Introducing Helix 02: Full-Body Autonomy (27 January 2026). The S0, S1 and S2 layers. https://www.figure.ai/news/helix-02
- Figure AI Helix 2.5: Zero-Shot 30-Home Generalization (17 September 2026). Evaluation in 30 homes. https://www.figure.ai/news/helix-2-5-zero-shot-30-home-generalization
- Figure AI Introducing Index: Building The World’s Largest and Most Diverse Physical Dataset (25 August 2026). The app that collects human video. https://www.figure.ai/news/introducing-index
- Figure AI Figure Exceeds $1B in Series C Funding at $39B Post-Money Valuation (16 September 2025). The funding announcement (the valuation is not used here). https://www.figure.ai/news/series-c
- Figure AI Figure Announces Strategic Partnership with Brookfield (17 September 2025). https://www.figure.ai/news/figure-announces-strategic-partnership-with-brookfield
- Figure AI Figure Signs Agreement with Catalyst Brands to Scale Humanoid Operations (26 May 2026). https://www.figure.ai/news/figure-signs-agreement-with-catalyst-brands
- Figure AI Figure and Nscale Sign Strategic Partnership For Up to 100,000 GPUs on the NVIDIA Vera Rubin Platform (3 September 2026). Compute agreement. https://www.figure.ai/news/figure-and-nscale-sign-strategic-partnership
- Figure AI Scaling Helix: a New State of the Art in Humanoid Logistics (7 June 2025). Work in parcel logistics. https://www.figure.ai/news/scaling-helix-logistics
- Figure AI F.02 Decommission (30 September 2026). Retirement of Figure 02. https://www.figure.ai/news/f-02-decommission
- Figure AI Notice Regarding Unauthorized Attempts to Sell Figure Stock (8 July 2026). Notice on share-transfer limits. https://www.figure.ai/news/notice-regarding-unauthorized-attempts-to-sell-figure-stock
- Figure AI Project Go-Big: Internet-Scale Humanoid Pretraining and Direct Human-to-Robot Transfer (18 September 2025). Pretraining on human video. https://www.figure.ai/news/project-go-big
- Figure AI Company page on the official site (describes F.01 to F.03). https://www.figure.ai/company
- Figure AI Official news list (used to check dates and titles). https://www.figure.ai/news
- U.S. SEC Form D of Figure AI Inc. (filed 13 March 2024). Series B offering amount, amount sold and number of investors. https://www.sec.gov/Archives/edgar/data/2014185/000149315224009735/primary_doc.xml
- U.S. SEC EDGAR filing index (CIK 0002014185). Used to check the filer name, state of incorporation and address. https://data.sec.gov/submissions/CIK0002014185.json
- U.S. District Court (N.D. Cal.) U.S. District Court, Northern District of California: docket of case 5:25-cv-10094 (as mirrored by CourtListener). Used only to check the filing, answer and counterclaim dates. https://www.courtlistener.com/docket/71948915/gruendel-v-figure-ai-inc/
14. Claim-to-source audit
| Claim in the text | Type | Reference |
|---|---|---|
| Legal name Figure AI Inc., Delaware corporation, 2023 incorporation, Series B offering amount, amount sold and investors | Sourced | Reference 18 https://www.sec.gov/Archives/edgar/data/2014185/000149315224009735/primary_doc.xml Reference 19 https://data.sec.gov/submissions/CIK0002014185.json |
| The first-generation F.01 took its first steps in May 2023 | Sourced | Reference 16 https://www.figure.ai/company |
| Figure 03 launch (9 October 2025) and its specifications (cameras, touch, charging, UN38.3, mass, manufacturing method) | Sourced | Reference 1 https://www.figure.ai/news/introducing-figure-03 |
| BotQ first-generation line up to 12,000 a year, goal of 100,000 in four years | Not yet confirmed | Reference 1 https://www.figure.ai/news/introducing-figure-03 |
| BotQ shipped 350+ third-generation robots; 1 a day to 1 an hour; yields and inspection figures | Sourced | Reference 4 https://www.figure.ai/news/ramping-figure-03-production |
| Eleven months of Figure 02 at BMW (90,000+ parts, 1,250+ hours, 30,000+ X3s) and forearm failures | Sourced | Reference 2 https://www.figure.ai/news/production-at-bmw |
| Retirement of Figure 02 (November 2025; post of 30 September 2026) | Sourced | Reference 2 https://www.figure.ai/news/production-at-bmw Reference 13 https://www.figure.ai/news/f-02-decommission |
| Figure 03 parts-sequencing demonstration at BMW | Sourced | Reference 3 https://www.figure.ai/news/f-03-at-bmw |
| Helix 02 layers and figures (200 Hz, 1 kHz, 10M parameters, 1,000+ hours, 109,504 lines) | Sourced | Reference 5 https://www.figure.ai/news/helix-02 |
| Helix 2.5 evaluation in 30 homes (9% and 56%) | Sourced | Reference 6 https://www.figure.ai/news/helix-2-5-zero-shot-30-home-generalization |
| Index figures (264,000 downloads, 44,000 weekly users, 16M videos, US$15M paid, US$1B+ in 12 months) | Sourced | Reference 7 https://www.figure.ai/news/introducing-index |
| Series C above US$1 billion led by Parkway; investors include Brookfield and NVIDIA | Sourced | Reference 8 https://www.figure.ai/news/series-c |
| Brookfield partnership (17 September 2025) and Project Go-Big | Sourced | Reference 9 https://www.figure.ai/news/figure-announces-strategic-partnership-with-brookfield Reference 15 https://www.figure.ai/news/project-go-big |
| Commercial agreement with Catalyst Brands (starting in Reno) | Sourced | Reference 10 https://www.figure.ai/news/figure-signs-agreement-with-catalyst-brands |
| Nscale partnership (up to 100,000 GPUs, US$3.5B, intent above US$6B, second half of 2027) | Sourced | Reference 11 https://www.figure.ai/news/figure-and-nscale-sign-strategic-partnership |
| Helix logistics improvements (from about 5.0 s; barcode-facing about 70% to about 95%) and the post’s own 4.05 s / 4.31 s inconsistency | Sourced | Reference 12 https://www.figure.ai/news/scaling-helix-logistics |
| The company says share transfers need board approval | Sourced | Reference 14 https://www.figure.ai/news/notice-regarding-unauthorized-attempts-to-sell-figure-stock |
| Suit by a former employee (21 November 2025); answer and counterclaims (16 January 2026) | Sourced | Reference 20 https://www.courtlistener.com/docket/71948915/gruendel-v-figure-ai-inc/ |
| Treatment of headcount, revenue, profit and valuation | Not yet confirmed | Headcount, revenue and profit are not disclosed and not estimated. Valuation is outside this article. |
| Figure 03 price, home launch date, robot counts and periods at BMW/Catalyst, independent checks, whole-robot third-party safety certification | Not yet confirmed | Not in the official posts we read. We do not claim they do not exist Reference 17 https://www.figure.ai/news |
| Ties with universities, research bodies or public bodies; acquisitions or divestments | Not yet confirmed | Not in the official posts we read Reference 17 https://www.figure.ai/news |
| Humanoids & physical AI as the primary type | Our calculation | This article’s own classification |
| The reading that learning is shifting to human video | Inference | This article’s interpretation (basis: References 6, 7 and 15) |
| The reading that shipments are not the same as customer deployments | Inference | This article’s interpretation (basis: Reference 4) |
| Safety standards for humanoids are still being drafted and whole-robot third-party certification is unconfirmed | Inference | This article’s interpretation (see our explainer on robot safety standards) |
Last updated 25 October 2026 / Troy Technical
Figures in this article come from announcements on Figure AI’s website, its SEC Form D and a federal court docket. No research-firm estimates or press-based figures have been used. Demonstrations, deployments, shipments and production capacity are company claims for which we found no independent verification. Passages marked “Inference” are this article’s interpretation of primary sources, not statements made by the company. Valuations and investment views are not covered.