XPENG Robotics Completes US$100 Million Series A Fund Raising
July 12 2022 - 3:27AM
Business Wire
XPENG Robotics (or the Company), an affiliate of XPeng Inc. and
a key part of its mobility ecosystem dedicated to creating smart
robots, today announced that it has completed 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, supported by XPeng Inc. and other long-time
investors.
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XPENG Robotics Raises US$100+ Million
Series A Financing (Photo: Business Wire)
The Series A financing is the largest single-tranche fundraising
for the bionic robot sector in China in the past two years.
"Development of the robotics sector is propelled by breakneck
progress in science and technology. XPENG Robotics is committed to
establishing a holistic ecosystem for intelligent robots. The
completion of our Series A fundraising reflects the capital
market's expectations, and is a vote of confidence in the prospects
for this sector. It also represents the full recognition of our
strength in R&D as well as our capability for future
commercialization,” said Mr. Xu Zhigen, CEO of XPENG Robotics.
The Series A financing enables XPENG Robotics to further
strengthen its full-stack R&D investment in robotic hardware
and software, top-tier talent acquisition, accelerating product
development and iteration, to boost its technology and product
competitiveness.
Dedicated to consumer-oriented technology, the Company expects
intelligent robots to enter households in the next two years,
enriching the experience of our daily routine and bringing profound
changes to our lifestyle.
"Smart mobility and intelligent robotics are developing at a
speed that’s exceeding expectations. We are a strong believer that
the new technology-defined era will transform imagination into
reality in our generation. I also believe that in the future,
manufacturers of smart cars will also be manufacturers of smart
robots, creating 1+1 >2 synergy,” said Mr. He Xiaopeng, Chairman
and CEO of XPeng.
“As part of our mission as a technology innovator and 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,” Mr. He commented.
As one of the lead investors, Mr. Cui Guangfu, a partner at IDG
Capital, noted: "The household robot market, still in its initial
exploration phase, presents immense potential. Different
entrepreneurial teams are innovating 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 that XPENG Robotics will achieve innovative
breakthrough through extensive R&D investment to open up the
household robot market. We are privileged to join hands again with
Mr. He Xiaopeng to develop the household robot market.”
XPENG Robotics’ first product is a quadruped robot with superior
autonomous navigation, able to deliver safe and agile motion
performance with a multi-modal emotional interaction function.
Equipped with the first household-use robotic arm, it can act as a
companion with the ability to care, entertain and transport.
As one of the earliest companies in the walking robot sector in
China, XPENG Robotics was established in 2016. The company is
headquartered in Shenzhen with its R&D centers in Guangzhou,
Beijing, and Silicon Valley. The Company is highly
technology-oriented, specializing in robot powertrains, locomotion
control, robot autonomy, robot interaction and artificial
intelligence.
As of the end of June 2022, XPENG Robotics has over 300
employees, 80% of whom are R&D staff integrating expertise from
key sectors including robotics, artificial intelligence, automotive
design and manufacturing, and the Internet.
Benefiting from XPENG’s ecosystem, the Company boosts its
R&D advantages, complementing its parent company in autonomous
driving, powertrain systems and intelligent interaction. The
resulting product line is expected to define and lead the
consumer-grade robot market, as a home essential in the AI era.
About XPENG Robotics
XPENG Robotics, founded in 2016 in Shenzhen China, is dedicated
to creating smart robots for the good of human society. XPENG
Robotics is one of XPENG’s ecosystem companies, sharing the same
mission of exploring future mobility. As of the end of June 2022,
XPENG Robotics has over 300 employees, 80% of whom are R&D
staff integrating expertise from key sectors including robotics,
artificial intelligence, automotive design and manufacturing, and
the Internet. XPENG Robotics is highly technology-oriented,
specializing in robot powertrain, locomotion control, robot
autonomy, robot interaction, and artificial intelligence.
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version on businesswire.com: https://www.businesswire.com/news/home/20220712005559/en/
Media: XPENG INC. Marie Cheung +852-9750-5170 〡
+86-1550-7577-546 mariecheung@xiaopeng.com
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