Hark, founded by Figure AI CEO Brett Adcock to build AI-powered devices, raised a $700M+ Series A led by Parkway Venture at a $6B post-money valuation
Context & Ripple Effects
This is the second recent financing in coverage tied to Brett Adcock and Parkway Venture: Parkway also led Figure’s more-than-$1B Series C after having backed its earlier rounds. Figure’s reported valuation rose sharply from its 2024 financing to its 2025 round, establishing a backdrop of sustained investor appetite for Adcock-linked robotics and AI-device efforts.
Hark’s financing is notable because it gives a newly described AI-device company a multibillion-dollar valuation at Series A, rather than following a publicly documented progression of smaller rounds like Figure’s earlier funding history.
First-order effects
- Hark gains more than $700M to build AI-powered devices, while Parkway becomes the lead backer of a company valued at $6B post-money.
- Brett Adcock now has a separately financed AI-device venture alongside his leadership of Figure, increasing the importance of execution and organizational focus across the two efforts.
Second-order effects
- The round raises the funding and valuation benchmark for startups pursuing AI hardware, particularly those seeking to finance product development before a longer operating track record is visible in this coverage.
- Parkway’s repeated lead role in Figure and Hark deepens its exposure to Adcock-associated AI and robotics bets, making the investor a more consequential source of capital in that niche.
Third-order effects
- If similarly large early rounds continue, AI-device development could become increasingly concentrated among startups able to secure specialist venture backing for expensive hardware and model-development cycles.
- The pattern suggests investors are treating AI’s expansion beyond software as a platform opportunity, though the coverage provides no evidence yet that Hark’s devices have reached commercial scale.
The trend: Large venture rounds are extending the AI investment boom from model- and software-centric companies toward capital-intensive physical devices and robotics.