SHENZHEN, China–(BUSINESS WIRE)–July 12, 2022–
XPENG Robotics (or the Company), a subsidiary of XPeng Inc. and a key part of its mobility ecosystem dedicated to creating intelligent robots, announced today that it has finalized the signing of a definitive agreement with a consortium of investors to raise over US$100 million for its Series A capital funding. The funding round is led by IDG Capital, backed by XPeng Inc. and other long-time investors.
This press release is multimedia. See the full version here: https://www.businesswire.com/news/home/20220712005559/en/
XPENG Robotics Raises Over US$100 Million in Series A Funding (Photo: Business Wire)
The Series A funding is the largest single-tranche fundraising for China’s bionic robot industry in the past two years.
“The development of the robotics industry is propelled by dizzying advancements in science and technology. XPENG Robotics is committed to establishing a holistic ecosystem for intelligent robots. The achievement of our Series A fundraising reflects expectations of the capital market and is a vote of confidence in the This also represents full recognition of our R&D strength as well as our future commercialization capability,” said Mr. Xu Zhigen, CEO of XPENG Robotics.
The Series A funding enables XPENG Robotics to further strengthen its comprehensive R&D investment in robotics hardware and software, acquisition of high-level talent, acceleration of product development and iteration, to strengthen its technology and the competitiveness of its products.
Dedicated to consumer-centric technology, the company expects intelligent robots to enter homes within the next two years, enriching the experience of our daily routines and bringing profound changes to our way of life.
“Intelligent mobility and intelligent robotics are developing at a speed that exceeds expectations. We are convinced that the new era defined by technology will turn imagination into reality in our generation. I also believe that in the future, smart car makers to be smart robot makers, creating 1+1 >2 synergy,” said Mr. He Xiaopeng, Chairman and CEO of XPeng.
“As part of our mission as an innovator and technology 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,” commented Mr. He.
As one of the lead investors, Mr. Cui Guangfu, Partner at IDG Capital, said, “The household robot market, still in its initial stage of exploration, has immense potential. Different entrepreneurial teams innovate to create different products.
Mr. Cui added, “The R&D development of XPENG Robotics and XPeng Inc. complement each other, creating a unique competitive advantage. We expect XPENG Robotics to achieve an innovative breakthrough through strong R&D investment to open up the home robot market. We are privileged to partner with Mr. He Xiaopeng again to develop the household robot market.
XPENG Robotics’ first product is a quadruped robot with superior autonomous navigation, capable of delivering safe and agile movement performance with multi-modal emotional interaction function. Equipped with the first robotic arm for home use, it can serve as a companion with the ability to care, entertain and transport.
As one of the earliest companies in China’s walking robot industry, XPENG Robotics was established in 2016. The company is headquartered in Shenzhen and has R&D centers in Guangzhou, Beijing and Silicon Valley. The company is strongly technology-driven, specializing in robot powertrains, locomotion control, robot autonomy, robot interaction, and artificial intelligence.
As of the end of June 2022, XPENG Robotics has more than 300 employees, 80% of which are R&D personnel integrating expertise from key sectors such as robotics, artificial intelligence, automotive design and manufacturing and Internet.
Benefiting from the ecosystem of XPENG, the company strengthens its advantages in R&D, complementing its parent company in autonomous driving, transmission systems and intelligent interaction. The resulting product line is expected to define and lead the market for consumer robots, as an essential part of the home in the age of AI.
About XPENG Robotics
XPENG Robotics, founded in 2016 in Shenzhen, China, is dedicated to creating intelligent robots for the benefit of human society. XPENG Robotics is one of the companies in the XPENG ecosystem, sharing the same mission of exploring future mobility. As of the end of June 2022, XPENG Robotics has more than 300 employees, 80% of which are R&D personnel integrating expertise from key sectors such as robotics, artificial intelligence, automotive design and manufacturing and Internet. XPENG Robotics is highly technological, specializing in robot powertrain, locomotion control, robot autonomy, robot interaction and artificial intelligence.
Show source version on businesswire.com:https://www.businesswire.com/news/home/20220712005559/en/
+852-9750-5170 〡 +86-1550-7577-546
KEYWORD: CHINA ASIA PACIFIC
INDUSTRY KEYWORD: ROBOTIC TECHNOLOGY ELECTRONIC DESIGN AUTOMATION CONSUMER ELECTRONICS
SOURCE: XPENG Robotics
Copyright BusinessWire 2022.
PUBLISHED: 07/12/2022 03:27 AM/DISC: 07/12/2022 03:27 AM