Apptronik shares
Unlisted company
Apptronik is building a platform business around the Apollo humanoid robot and combines multiple revenue streams rather than relying on one-off hardware sales.
Three parallel revenue streams
Direct sales of Apollo robots to industrial companies that prefer to own the equipment as a fixed asset. Robotics-as-a-Service (RaaS) — a subscription model in which the customer pays on an ongoing basis for the robot, software updates, service, and support; the model lowers the barrier of upfront investment and also includes short-term rentals during seasonal peaks. Software and support — licensing agreements, service agreements, and technical support as recurring revenue in addition to the hardware.
Three-phase market strategy
Phase 1: logistics and manufacturing in environments where robots can work separately from humans (where the company is today). Phase 2: expansion into healthcare, hotels/restaurants and retail, which requires more sophisticated manipulation and stricter safety standards. Phase 3: the home — assisted care and household tasks — a 5–10-year horizon that assumes a robot will cost less than a car.
Manufacturing outsourced to Jabil
Apptronik owns the product design but has outsourced production itself to its global manufacturing partner, Jabil. This provides scalability and flexibility without requiring the company to build its own factories, while Jabil becomes both a supplier and a pilot customer.
Technology stack and partnerships
Apollo is powered by NVIDIA’s GR00T foundation model running on onboard Jetson hardware, as well as Google DeepMind’s Gemini Robotics models. Major industrial pilot customers include Mercedes-Benz (production-line logistics), GXO Logistics (warehouse management), and Jabil (manufacturing). The company has raised approximately USD 935 million from investors including B Capital, Google, Mercedes-Benz, and PEAK6.
In summary: Apptronik is not just selling a robot — the company is building a platform that generates revenue from hardware, subscriptions, and software, with a stated ambition to scale from industrial applications to the home over the coming decade.
Revenue streams
Direct sales of Apollo robots
Robotics-as-a-Service, subscription
Software, licences and support
Short-term rental during seasonal peaks
Key characteristics of the business model
Apollo: humanoid for industry and logistics
Manufacturing by partner Jabil
NVIDIA GR00T and Gemini Robotics
Pilots at Mercedes-Benz, GXO and Jabil
Questions about Apptronik
Is Apptronik publicly listed?
No, Apptronik is not publicly listed and has not completed an IPO. The company is privately owned, and its shares are not traded on public exchanges such as the NYSE or Nasdaq, but are part of the unlisted market.
What does Apptronik do?
Apptronik is a US robotics company that develops humanoid robots for industrial environments. The company’s main product is Apollo, a humanoid robot designed for repetitive material-handling tasks in logistics, warehousing, and manufacturing.
Can I buy shares in Apptronik?
Yes, it is possible to invest in Apptronik through Eqvor, but not through a direct share transfer. Since Apptronik is a privately held US company, any potential pre-IPO investment is made through an SPV structure, providing indirect exposure to the company’s shares.
How do I buy Apptronik shares?
To invest in Apptronik through Eqvor, you need to follow the process for US unlisted company shares. The investment is made through an SPV structure, as Apptronik does not allow direct share transfers.
Can I sell shares in Apptronik?
Since an investment in Apptronik is made indirectly through an SPV, any potential sale is handled in accordance with the terms of the relevant structure. As with other unlisted shares, liquidity is generally lower than for listed shares, and a sale requires that buyers are available.
Is Apptronik affiliated with Euroclear?
No, Apptronik is a privately held US company, and the investment is not made as an ordinary Euroclear-registered Swedish share. Exposure to Apptronik is obtained through an SPV structure.
Can I hold Apptronik shares with Avanza or Nordnet?
No, Apptronik shares generally cannot be held like ordinary publicly listed shares in an account with Avanza or Nordnet. Since the investment is made through an SPV, the investor gains indirect exposure to the company rather than direct ownership of the shares.
What is Apptronik's latest known valuation?
Apptronik's latest valuation is reported at $5.30B. The valuation was set in the $719.9 million Series A X-1 round in December 2025, led by B Capital, Google, PEAK6, and Mercedes-Benz. Its secondary market value is estimated at $4.85B (October 2026).
When will Apptronik go public?
There is currently no confirmed public listing for Apptronik. We therefore do not know when Apptronik will go public, or whether the company will conduct an IPO.
Has Apptronik carried out any share issues?
Yes, Apptronik has completed several funding rounds. The list of recent share issues shows several rounds, and the company’s total financing is stated as $1.16B.
What are the risks of investing in Apptronik?
Investing in Apptronik involves risk, just like other investments in unlisted shares. Liquidity is generally lower than for listed shares, the information available may be less comprehensive, and it may take longer to sell the investment. Apptronik’s valuation may also be affected by technological development, commercialization, capital requirements, competition, and demand for humanoid robots in industry, logistics, and manufacturing.
Where can I find Apptronik's annual report?
There is currently no separate annual report listed for Apptronik. If annual reports or other financial reports are made available in the future, they should be found under Resources or Investor Relations.
How much capital has Apptronik raised in total?
Apptronik’s total funding, also referred to as total financing, is reported as $1.16B. An equity raise is a term for raising capital, but terms such as funding round, financing, or share issue are most commonly used, depending on the company’s structure.
Has Apptronik reported a profit or loss?
There is currently no Profit/Loss by Year chart or key figure showing whether Apptronik has reported a profit or loss. When such information becomes available, the company's earnings performance should primarily be tracked under Key Figures and in the Profit/Loss by Year chart.