Crypto exchange Tether, which only recently was reported to be negotiating a major funding round with the German robotics startup Neura Robotics, has now taken a stake in the Italian Neura rival Generative Bionics. The Genoa-based robotics startup says it has raised 70 million euro, in what it describes as one of the largest funding rounds for European developers of humanoid robots.

The lead investor in the deal was the venture capital arm of the state-owned Italian development bank Cassa Depositi e Prestiti (CDP Venture Capital). In addition to Tether, AMD Ventures, which belongs to the US chipmaker AMD, the Luxembourg-based industrial and logistics group Duferco, and Eni Next, the venture arm of the Italian energy group Eni, also participated.

Generative Bionics was founded in July 2024 by four former employees of the Istituto Italiano di Tecnologia (IIT). The startup aims to bring intelligent humanoid robots „Made in Italy“ to the market. These robots are intended for use in manufacturing, logistics, healthcare, and retail. The company plans to unveil its first model at the Consumer Electronics Show in Las Vegas, which will take place from 6 to 9 January next year.

„Our mission is to shape a future in which intelligent humanoid robots work with people every day, amplifying human cognitive and physical potential,“ said Generative Bionics CEO Daniele Pucci. The startup takes note of market analyses suggesting that the market for humanoid robotics could exceed 200 billion euro by 2035.

The promising outlook is drawing more venture capital investors into the sector. According to data from CB Insights, global investments in companies developing humanoid robots could reach 2.3 billion dollars this year, roughly double the previous year’s total. One German player, Baden-Württemberg based startup Neura Robotics, raised 120 million euro earlier this year. That funding also came mainly from Italy – not from CDP, but from the Fiat founding family Agnelli and its investment firm Lingotto.

In mid-November, the Financial Times reported, citing insiders, that Neura Robotics was negotiating a funding round worth up to 1 billion euro with Tether, which is headquartered in El Salvador. The issuer of the world’s most traded cryptocurrency stablecoin was said to be working on expanding its investment portfolio into AI-powered humanoid robotics. The talks reportedly included a valuation for Neura Robotics of 8 billion to 10 billion dollars.

Neura Robotics was founded in 2019. It now employs more than 600 people and offers not only its humanoid robot „4NE1“ but also a range of industrial and service robots.