Physical Intelligence, the two-year-old San Francisco robotics startup, is in discussions to raise about $1 billion in new funding at a valuation exceeding $11 billion, according to Bloomberg. The deal would effectively double the company’s $5.6 billion valuation in just four months.
Founders Fund is set to participate with Lightspeed Venture Partners also in talks to invest alongside returning backers Thrive Capital and Lux Capital, Bloomberg reported. The deal is still in early stages and details could change, noted the outlet.
