Kul Bhushan · · 1 min readChinese robotic firm secures $100m in series A capital
Shenzhen-headquartered XPeng Robotics has secured US$100 million in a series A fundraise led by IDG Capital. The tech firm’s parent, electric-car maker XPeng Motors, also joined the round.
Photo credit: Xpeng Robotics
Founded in 2016, XPeng Robotics has more than 300 employees and focuses on areas including automotive design and manufacturing, locomotion control, and AI.
In 2021, XPeng Robotics launched its first product – a ridable “robot unicorn” with features such as autonomous navigation.
The company plans to use the fresh capital to enhance its investments in robot-focused hardware and software and speed up product development, among other improvements.
It also aims to develop intelligent robots, which it expects to “enter households” in the next two years.
“The household robot market, still in its initial exploration phase, presents immense potential. Different entrepreneurial teams are innovating to create different products,” Cui Guangfu, a partner at IDG Capital, said in a statement.
See also: Singapore no-code platform for robots cuts automation costs by half
Editing by Miguel Cordon and Joy Tirkey
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