Beyond Imagination, a humanoid robotics startup, is in discussions to secure $100m in Series B funding round, reported Reuters.

Venture capital firm Gauntlet Ventures is expected to be the sole investor in the funding round.

The startup plans to use the proceeds to advance the deployment of its humanoid robot, Beyond Bot, in various industrial settings.

Beyond Imagination anticipates the funding round to reach a valuation of $500m.

Gauntlet Ventures has expressed confidence in Beyond Imagination’s potential to transform US manufacturing and mitigate the anticipated global skilled labour shortage.

Beyond Imagination’s Beyond Bot humanoid robot and its AI models are designed for use in environments such as factories, pharmaceutical plants, and semiconductor manufacturing facilities.

Gauntlet Ventures co-founder Oliver Carmack was cited by the news agency as saying that company is undertaking trials with its robots. It is also considering large-scale enterprise deployment.

Carmack said that the firm selected Beyond Imagination due to its potential to revolutionise manufacturing in the US and address the anticipated global skilled labour shortage.

The company is also advancing its technological offerings with Aura, a universal operating system for intelligent manufacturing.

Beyond Imagination co-founder Harry Kloor was cited by the news agency as saying that Aura will enable collaboration between humans, robots, and existing machinery.

Founded by Dr Harry Kloor and Ray Kurzweil in 2018, Beyond Imagination has developed a multi-modal Omni-purpose AI Brain, Beomni AI.

Beomni AI is a “powerful” AI brain capable of powering humanoid robots and other robotic systems.