EV giant Xpeng, which is Tesla's rival in China, is not stopping at producing electric vehicles, but it is also placing a wager on rideable unicorn robots for kids, according to TechCrunch's report.
(Photo : XPeng Robotics)
In a Series A round headed by the IDG Capital, Xpeng Robotics, a company that makes bionic robots and is connected to Xpeng, just raised an astonishing $100 million at a period when venture capital investments are declining in China.
The Series A transaction, according to businesswire, is the biggest single-tranche fundraising for China's bionic robot industry in the last two years.
Smart Robots in the Future
Xpeng itself, as well as some unknown backers, are additional investors. Following the most recent round, it is unknown how much power Xpeng still possesses over Xpeng Robotics.
However, considering their shared brand identification, it won't come as a surprise that the two companies are tightly partnered in terms of development, according to TechCrunch.
He Xiaopeng, the chairman and CEO of Xpeng, said in a statement that he believes producers of smart Xpeng Robotics as part of their objective to be technology innovators and explorers. automobiles would also produce smart robots in the future. According to the CEO, they will keep supporting.
The initial offering from Xpeng Robotics, which was established in 2016, is a quadruped robot that can move around on its own and communicate with people.
Read Also: Xpeng Robotics Raises $100 Million in Series A Funding to Commercialize Household Robotics in 2024
All About the Robotic Pony
The robotic pony is seen nodding and winking at a child while riding him about in a 3D teaser that was unveiled last September. In another video, the pony follows a person while delivering refreshments throughout a workplace by the voice directions he was given with.
According to TechCrunch, there have been several companion robots, such as the bionic cat from Elephant Robotics in Shenzhen, but few are as large as Xpeng Robotics' pony, which has the same height as a child.
Even though it stated in a press release that it anticipates intelligent robots to enter homes within the next two years, Xpeng Robotics has yet to specify a delivery date for its robots. The idea is certainly not something that a startup could take on instantly without funding from a wealthy sponsor.
The investment will enable Xpeng Robotics to attract top personnel, accelerate product development, and increase its R&D spending on robotic hardware and software.
XPENG Robotics was founded in 2016, making it one of the pioneering businesses in China's walking robot industry. The company's R&D facilities are located in Silicon Valley, Guangzhou, and Beijing in addition to its Shenzhen headquarters.
The company has a strong focus on technology, and its areas of expertise include robot movement, autonomy, interaction, and artificial intelligence.
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Written by Joaquin Victor Tacla