Ultra raises $62 million for fast-growing ‘robots as a service’ business, announces tie-up with AI research firm Physical Intelligence

Brooklyn-based robotics startup Ultra has raised $62 million while expanding its partnership with Physical Intelligence, an artificial intelligence research firm focused on robot capabilities.

The announcement underscores how the robotics industry is developing not only through new technological advances, but also through alternative ways of putting machines into businesses.

A monthly model for warehouse robots

Ultra leases its devices to warehouses through a monthly “robots as a service” arrangement. Rather than requiring customers to purchase the machines outright, the company provides access through an ongoing business model.

That approach places distribution and commercial access alongside engineering as a central part of the company’s strategy. The funding announcement also identifies Ultra as a fast-growing business within the expanding robotics sector.

Partnership with Physical Intelligence deepens

Alongside the financing, Ultra said it was deepening its partnership with Physical Intelligence. The firm has been described as an AI company developing the “brains” for robots.

The relationship connects Ultra’s warehouse-focused deployment model with Physical Intelligence’s work in artificial intelligence for robotics. The announcement did not disclose additional terms of the partnership or explain how the new funding will be allocated.

Why the announcement matters

Ultra’s financing and partnership show how robotics companies are combining technology development with service-based commercial models. The monthly leasing structure may help define how warehouse operators access robotic devices, while the collaboration highlights the growing role of AI research in the sector.

For now, the company’s announcement provides a snapshot of an industry gaining momentum through both technical progress and new routes to market.