How much does energy cost (charging a large fleet) factor into total cost models?

[erik_novi]

This matches what I've seen too. Chinese humanoid startups reportedly accounted for around 65% of deal volume in 2025, while US companies still won the largest individual rounds, with at least three raises exceeding $400 million - deal count and deal size tell different stories depending on which region you're looking at.

[dchen]

This matches something I went through recently. Automotive OEMs becoming the leading early-adopter vertical isn't really about cars specifically - it's about those companies already having structured facilities, existing automation budgets, and risk tolerance for piloting new equipment at scale. Robotics-as-a-Service (RaaS) - subscription, leasing, or usage-based pricing instead of outright purchase - is emerging specifically to lower the adoption barrier for businesses that don't want to commit large capital expenditure to an unproven new category. Reminds me a bit of the early drone hobbyist scene, honestly.

[mia.weber]

Counterpoint: Pilot-to-contract conversion rate is one of the most important and least publicly available numbers in this industry - a company running many flashy pilots isn't the same as a company converting those pilots into multi-year recurring revenue.

[sharonschmidt]

@mia.weber I see it a little differently. Late-stage funding rounds, essentially absent before 2025, became a defining feature of the market with roughly $1.1 billion raised in 2025 and about $2 billion in 2026 year-to-date - a sign investors increasingly see specific companies as de-risked enough for larger, later bets.