Ultra, a Brooklyn-based robotics startup, announced a $62 million funding raise on Friday to expand its robots as a service (RaaS) business model. The company leases robotic devices to warehouses under monthly subscriptions. The funding includes a $50 million Series A led by Framework Ventures and a $12 million seed round led by Y Combinator and Next View, according to fortune.com.
The funding rounds reflect Ultra’s growth and its strategic partnership with AI research firm Physical Intelligence. Ultra CEO and co-founder Jon Miller Schwartz highlighted the company’s focus on practical robots that operate in warehouses rather than humanoid robots, which attract more media attention but face deployment challenges. The Series A round was led by Framework Ventures with participation from Y Combinator, which also led the seed round alongside Next View, fortune.com reported.
Ultra’s approach contrasts with the popular fascination with humanoid robots, which have struggled with stability and real-world applications. Instead, Ultra’s robots are already operational in warehouses across the U.S., demonstrating the commercial viability of RaaS models. The company’s funding round underscores investor confidence in warehouse automation and robotics that deliver immediate operational impact, according to fortune.com.
Ultra’s $62 million funding marks a significant milestone as it deepens its collaboration with Physical Intelligence to enhance its robotic offerings. The company will use the capital to scale deployments and improve AI capabilities. The announcement was made on October 9, 2026, as reported by fortune.com.