XPENG Robotics based in Shenzhen, China, an affiliate of XPeng Inc., dedicated to creating smart robots, has raised over $100 million in Series A capital funding. The funding round was led by IDG Capital, supported by XPeng Inc. and other long-time investors.
Largest funding in robotics sector
This is the largest single-tranche fundraising for the bionic robot sector in China in the past two years. It will enable XPENG Robotics to further strengthen its full-stack R&D investment in robotic hardware and software, top-tier talent acquisition, accelerating product development and iteration, to boost its technology and product competitiveness.
“Development of the robotics sector is propelled by breakneck progress in science and technology. XPENG Robotics is committed to establishing a holistic ecosystem for intelligent robots. The completion of our Series A fundraising reflects the capital market’s expectations, and is a vote of confidence in the prospects for this sector. It also represents the full recognition of our strength in R&D as well as our capability for future commercialization,” said Mr. Xu Zhigen, CEO of XPENG Robotics.
Mr. He Xiaopeng, Chairman and CEO of XPeng said, “As part of our mission as a technology innovator and explorer, we will continue to provide support to XPENG Robotics. This will generate more synergy as we build our mobility ecosystem through this strategic partnership.”
Mr. Cui Guangfu, a partner at IDG Capital, noted, “The R&D development of XPENG Robotics and XPeng Inc. complement each other, creating a unique competitive advantage. We expect that XPENG Robotics will achieve an innovative breakthrough through extensive R&D investment to open up the household robot market. We are privileged to join hands again with Mr. He Xiaopeng to develop the household robot market.”
Quadrupled robot features
Smart mobility and intelligent robotics are developing at a speed that’s exceeding expectations. This is where XPENG Robotics comes to the picture as it is dedicated to creating smart robots for the good of human society.
Founded in Heng Xia, Tao He and Xiaopeng He in 2016, XPENG Robotics expects intelligent robots to enter households in the next two years, enriching the experience of daily routine and bringing profound changes to users’ lifestyle. The company is highly technology-oriented, specialising in robot powertrain, locomotion control, robot autonomy, robot interaction, and artificial intelligence.
XPENG Robotics’ first product is a quadruped robot with superior autonomous navigation, able to deliver safe and agile motion performance with a multi-modal emotional interaction function. Equipped with the first household-use robotic arm, it can act as a companion with the ability to care, entertain and transport.
XPENG Robotics has over 300 employees, 80% of whom are R&D staff integrating expertise from key sectors including robotics, artificial intelligence, automotive design and manufacturing, and the internet.