The round, led by Elaia with participation from Speedinvest, Founderful, 1st Kind, 10X Founders, 2100 Ventures, and the Sequoia Scout Fund, pushes Mimic’s total funding past $20 million. 

The fresh capital will speed up the development of its foundation AI model, humanoid robotic hands, and large-scale industry deployments.

Mimic’s goal is to create robots that can match human finesse in handling intricate tasks on factory floors, from assembling small components to managing logistics processes where precision and adaptability are essential. 

While traditional robots are great at repetitive actions, they lack the flexibility to manage the unpredictable nature of real-world environments.

“Humanoids are exciting, but there aren’t many industrial scenarios where the full-body form factor truly adds value,” said Stephan-Daniel Gravert, co-founder and chief product officer at Mimic Robotics. 

“Our approach pairs AI-driven dexterous robotic hands with proven, off-the-shelf robot arms to deliver the same capabilities in a way that is much simpler, more reliable and rapidly deployable.”

The company’s technology is trained on real human performance. Skilled operators wear Mimic’s proprietary data-collection gear during everyday factory work, capturing precise motion data without interrupting production. 

These recordings are then used to teach Mimic’s AI models through imitation learning, allowing robotic hands to replicate human movements with impressive accuracy.

“Our general purpose AI models allow us to automate manual labour in a way that simply was not possible before,” said Elvis Nava, co-founder and chief technology officer. “Thanks to our unique focus on human-like dexterity and human data, we are competitive at the robot foundation model layer as well as the application layer.”

Global manufacturers and logistics providers are already testing Mimic’s technology. Pilots are underway with several Fortune 500 companies, including major automotive brands. 

The firm’s offering comes at a time when many industrial economies are faced with labour shortages, an ageing workforce, and high costs that make automation more urgent than ever.

Analysts estimate the humanoid and dexterous robotics market could reach $38 billion by 2035, part of a robotics sector projected to be worth up to $1 trillion by 2040.

Founded in 2024 as a spin-off from ETH Zurich, Mimic’s 25-member team combines engineering, research, and industrial expertise. The company has also received support from Switzerland’s federal innovation agency and was selected for the AWS Generative AI Accelerator programme.

“We’re at an inflection point in robotics where learning-based systems meet real industrial needs,” said Stefan Weirich, co-founder and CEO of Mimic Robotics. “We make dexterity deployable at scale, closing the gap between what AI can do in the lab and what factories actually need. Europe has the talent, the infrastructure, and the demand, and we’re building the company that brings all of this together.”

Investors have commended Mimic’s technical and commercial potential. Clément Vanden Driessche, Partner at Elaia, noted, “Elaia is thrilled to lead the seed round in Mimic. The world-class team at Mimic is addressing one of the most challenging problems in physical AI: dexterous manipulation. Mimic’s breakthrough approach integrates a proprietary robotic hand, state-of-the-art foundation models for robotics, and novel data acquisition and training methods.”

Vincent Faber, investment manager at Elaia, added, “This enables autonomous, versatile manipulation and unlocks a previously untapped segment of the automation market, where the demand for flexible solutions continues to grow.”

Meanwhile, Andreas Schwarzenbrunner, general partner at Speedinvest, said, “At Speedinvest, we’ve always believed that Europe’s strength lies in marrying world-class engineering with foundational research. With Mimic, we see exactly that: a platform that unlocks human-level dexterity with frontier AI and solves billion-dollar problems on factory floors today. This is the moment Europe steps forward to compete and lead in the new era of AI and robotics.”

While robots are generally treated as tools or machines created and controlled by humans for specific tasks, our dependance on them is expected to grow.

Already, humanoids are beginning to make their way from the factory floor to our homes and workplaces – demonstrating their ability to curb the shortage of labour, ease demand for elderly care, and do jobs that are too dangerous for people.

Research shows that if the challenges around technology, affordability and wide public acceptance are overcome, the market for humanoids could reach $154 billion by 2035.

However as robots become more human-like, concerns arise about autonomy, decision-making, and potential harm. Thus, understanding the risks associated with granting or withholding ethical or moral rights is crucial.

“With their presence becoming increasingly integrated into our lives, ethical and philosophical questions surrounding whether legal or moral rights should ever be granted to humanoid robots have become pivotal,” says Malebu Makgalemela Mogohloane, executive: Enterprise Risk Management at Telkom.

“While it might seem trivial, we must think about the implications of creating entities that mirror us in form and, on increasingly many levels, function.”

For instance, Mogohloane points out, humanoids with high intellect and emotions might require regulations that ensure that their development, usage, and care adhere to ethical standards.

Without clear and defined rights, humanoids could be subjected to various forms of exploitation, including long working hours, low wages, and unsafe working conditions. They may also encounter prejudice because of their looks or ability, or because they are considered less than human.

If legal protection is not put in place, those who develop or possess humanoids may be held liable for any damage caused to them – or by them.

“At the intersection of innovation and morality, conversations about the role of humanoid robots in society are not just about technology but a reflection of our values, morals, and the fabric of our humanity,” says Mogohloane.

Some may argue that, despite robot behaviour being programmed to resemble that of people, robots are not living beings and should not receive the same treatment as humans or animals.

However, we should consider how close people and robots can be to each other. In some parts of the world, robots are providing companionship to the elderly who would otherwise be isolated. Robots are learning to develop a sense of humor. One has even been granted citizenship.

“As such, if robots reach a level of sophistication where they can experience some form of consciousness, denying them rights could be morally questionable,” says Mogohloane.

“But these rights might come with the expectation of responsibility and accountability. If robots are given certain capabilities, they may need to be held accountable for their actions, like humans.”

Mogohloane insists that society needs legal frameworks to address the status of humanoids, to determine whether they are classified as property, machines, or entities deserving of rights. We need to establish whether legal protections are necessary to ensure safety from exploitation, abuse, or discrimination.

Beyond that, we must prioritise investment in reskilling and retraining programmes for people to cultivate a culture of acceptance towards humanoids. Ultimately, the decision on whether robots should have rights will depend on societal values, ethical considerations, and how technology evolves.

“Together, let’s create an inclusive future where humanoids are treated with respect,” says Mogohloane. “We need a future marked by proactivity, harmonious coexistence, and careful deliberation to ensure humans and robots are protected”.

The move comes in response to recent reports emphasizing the installation of a robot representative to assist customers in the bank’s branches.

In an exclusive interview with ThisDay, Dr. Adesola Adeduntan, the CEO of First Bank Nigeria, addressed these concerns.

Introducing Humanoid Robots for Enhanced Self-Service Banking

Adeduntan shed light on the bank’s groundbreaking Digital Xperience Centre (DXC), heralded as Nigeria’s first digital bank branch. Leveraging advanced technologies such as artificial intelligence and humanoid robots, the DXC aims to revolutionize self-service banking operations for clients.

Adeduntan emphasized that the introduction of humanoid robots aligns with the bank’s forward-looking approach to the future of financial services delivery.

Launched initially in Lagos in 2021, the DXC stands as a fully automated interactive digital branch, redefining customers’ banking experiences through digitized self-service. Subsequent rollouts at the University of Ibadan, Oyo State, and the Wuse branch in Abuja have garnered positive feedback from customers, especially those in the retail segments.

Responding to concerns about potential job displacement for bank employees, Adeduntan clarified the bank’s stance on the matter. He emphasized that the DXC is not intended to replace employees but rather to enhance efficiency and productivity.

Adeduntan stated, “The DXC is not a trade-off for our employees but an enabler to free up our staff’s productive time to take on more complex and rewarding tasks within the Bank.”

Adeduntan further reassured the public by highlighting the bank’s ongoing commitment to employee empowerment.

He stated, “Given our several laudable employee initiatives, we are well-equipped to empower our employees to take on any other role they may desire within the larger FirstBank Group.”

Looking Ahead

First Bank of Nigeria remains dedicated to pushing the boundaries of technological innovation in the banking sector.

Adeduntan concluded the interview by stating that there are plans for additional rollouts of DXCs across all operating jurisdictions, underscoring the bank’s commitment to providing cutting-edge banking solutions while simultaneously fostering employee growth and development.