Xpeng Robotics Raises $900 Million to Scale Up Humanoid Robots
The funding round, led by IDG Capital, values Xpeng's robotics business at more than $6.3 billion and ranks as China's largest private deal in embodied AI.
AfroEuropa Newsroom
AfroEuropa desk
Xpeng Robotics has raised $900 million in a funding round aimed at mass-producing humanoid robots, according to Ventureburn.
The round was led by IDG Capital, with backers that included Tencent and Alibaba. Ventureburn reported that the financing values the robotics business at more than $6.3 billion, making it the largest single private funding deal to date in China's embodied AI sector, the field focused on AI operating inside physical robots rather than only on computers.
For comparison, Ventureburn noted that the startup TARS Robotics raised $455 million in April, which was the previous record for the sector.
Keep reading
Brussels startup Motion raises €1.7 million to expand humanoid robot rentals
Motion, which offers humanoid robots on a subscription basis, plans to move its five Belgian pilots into commercial deployment and grow its fleet across Europe.
Other highlights
Crypto Stocks Fall After Senate Declines to Advance Clarity Act
Shares of Coinbase, Circle and Galaxy dropped after the U.S. Senate failed to move forward a crypto market structure bill.
Follow the story
One newsletter, two continents
The Bridge brings you the tech, startups, and leaders moving between Africa and Europe in one sharp email each morning. No spam, unsubscribe anytime.
