Mentioned:
XPeng is getting serious about the future of robotics. Which is exactly why they’re raising a massive new round of capital.
What’s happening:
- XPeng's (NYSE: XPEV) robotics subsidiary has entered into a share purchase agreement with investors to raise more than $900M USD
By the numbers:
- XPeng’s robotics subsidiary will raise at a post-money valuation of more than $6.3B USD
Why it matters:
- XPeng has publicly stated that this is the single largest financing round ever raised for robotics by a company based in China
Going deeper:
- Prominent Chinese venture capital fund IDG Capital will lead the new capital raise for XPeng’s robotics subsidiary alongside strategic investments from both Tencent and Alibaba (NYSE: BABA)
- XPeng previously made major waves when they unveiled their flagship humanoid robot known as IRON which leverages a proprietary chip that is manufactured by XPeng specifically for robotics and artificial intelligence powered systems
The intrigue:
- Alibaba and Tencent were also both notably pre-IPO investors in leading Chinese humanoid robotics company Unitree Robotics
