BEIJING, Aug 24 (Reuters) - Chinese automaker Xpeng said on Monday its robotics unit had raised more than $900 million in its first funding round, setting a new record for a single private financing in China's embodied AI sector.
The funding round, led by IDG Capital and backed by strategic investors Tencent and Alibaba, values the robotics business at more than $6.3 billion, Xpeng said in a statement.
Gaorong Ventures, an early investor in autonomous driving company Momenta and humanoid robot startup AgiBot, also participated in the funding.
The proceeds will be used to develop robotics hardware and software, train and refine physical AI models, collect high-quality data, build end-to-end mass-production facilities, and support global expansion, the company said.
Xpeng has aimed to reach a monthly output of 1,000 units of its IRON humanoid robot by the end of the year, with initial deployments at its retail stores and industrial campuses. Commercial sales and deliveries in China and overseas markets are scheduled to begin in 2027.
#robotics #funding #company
The funding round, led by IDG Capital and backed by strategic investors Tencent and Alibaba, values the robotics business at more than $6.3 billion, Xpeng said in a statement.
Gaorong Ventures, an early investor in autonomous driving company Momenta and humanoid robot startup AgiBot, also participated in the funding.
The proceeds will be used to develop robotics hardware and software, train and refine physical AI models, collect high-quality data, build end-to-end mass-production facilities, and support global expansion, the company said.
Xpeng has aimed to reach a monthly output of 1,000 units of its IRON humanoid robot by the end of the year, with initial deployments at its retail stores and industrial campuses. Commercial sales and deliveries in China and overseas markets are scheduled to begin in 2027.
#robotics #funding #company
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