Xpeng robotics unit raises over $900M, post-money valuation tops $6.3B

Published Aug 28, 04:56 AM UTC

Editorial responsibility

Prepared by: WorldAttention Editorial Systems
Human review: No named human review is recorded for this page.
Automated steps: Source reporting is collected, normalized, translated or condensed automatically when needed.
Page status: Automatically published source-backed update

How automation and AI are used · Report a correction or rights issue

Chinese tech and automotive company Xpeng has raised over US$900 million for its robotics business, achieving a post-money valuation of over US$6.3 billion. The company claims this is the largest single-round private financing in China's embodied AI industry. The funding round was led by IDG Capital and joined by Gaorong Ventures, with Tencent and Alibaba participating as strategic investors. Xpeng's 'Iron' humanoid robot, featuring 76 degrees of freedom and three Turing AI chips, is set to launch in 2027 with large-scale deliveries in China and overseas. Proceeds will fund R&D, AI model training, data collection, mass production facilities, and global expansion. Xpeng also reported Q2 revenues of RMB19.74 billion and a gross margin of 20.7%, with overseas automotive deliveries surpassing 20,000 units in Q2.

Source

Yahoo FinanceNeutral / independent

Original headline: Xpeng posts huge funding round for robotics unit

Original language: EN-US

People and interests

Tencent Alibaba