XPeng – previously known only for electric cars – has raised more than $900 million for its robotics business at a post-money valuation of more than $6.3 billion, as the Chinese electric vehicle maker prepares to begin mass production of its IRON humanoid robot.
The company says the financing is the largest single-round private capital raise to date in China’s embodied AI industry.
The round was led by IDG Capital, with participation from Gaorong Ventures and strategic investment from Tencent and Alibaba. [Read more…] about XPeng’s new robotics business raises $900 million at $6.3 billion valuation