German Startup Neura Robotics Eyes Up to €1 Billion Round (1)

German startup Neura Robotics is targeting to raise as much as €1 billion ($1.2 billion) in new funding as the company prepares to debut a humanoid robot, according to people familiar with the matter.

Neura Robotics has started approaching potential investors, the people said, asking not to be identified because the information is private.

The company is competing against several well-capitalized firms making bipedal robots designed to lift heavy objects and automate repetitive tasks, powered by rapid advances in artificial intelligence software.

Those rivals include Tesla Inc. as well as 1X Technologies AS, a Norwegian startup backed by OpenAI ...