Warehouse-robot startup Ultra raises $62M and deepens its tie-up with Physical Intelligence, whose models run its packing robots
Confirmed
The takeaway
Fortune reported on Oct 9, 2026 that Brooklyn-based Ultra raised $62M (a $12M seed led by Y Combinator and Next View and a $50M Series A led by Framework Ventures).
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- 9 October 2026
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Key facts
- $62M total: $12M seed (Y Combinator, Next View) and $50M Series A led by Framework Ventures (Fortune)
- Business model: robots-as-a-service with an up-front integration fee plus monthly fees; CEO Jon Miller Schwartz says Ultra has been able to raise prices
- Division of labour: Ultra builds and deploys the robots; Physical Intelligence provides the robot foundation-model software
- Scale: 500,000+ orders packed for shipping in warehouses across the US
What happened
Ultra announced $62 million in funding and a closer partnership with Physical Intelligence (PI). PI’s general robot models run the non-humanoid packing robots that Ultra installs in customers’ warehouses on subscription.
Why it matters
It is an example of robot foundation models reaching paid, repetitive commercial work through hardware partners, rather than staying in lab demos.
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