The robotics arm of Xpeng has completed a round of Series A capital funding valued at over $100 million.
The investment from a consortium of investors represents the largest single-tranche fundraising effort in China’s robotics sector in the past two years and will enable Xpeng Robotics to strengthen its full-stack R&D investment in robotic hardware and software, top-tier talent acquisition, and accelerate its product development.
Xpeng Robotics’ first product takes the form of a quadruped robot that is reportedly able to deliver safe and agile motion performance with multi-modal emotional interaction functions. It is equipped with a system designed for household use and has been designed “as a companion with the ability to care, entertain and transport.”
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The Chinese company plans to launch intelligent robots into households in the next two years. Currently, Xpeng Robotics has over 300 employees, 80 per cent of which have prior experience in robotics, artificial intelligence, automotive design and manufacturing. The company is headquartered in Shenzhen and has research and development centers in Guangzhou, Beijing, and Silicon Valley.
“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,” chairman and chief executive of Xpeng, He Xiaopeng said. “I also believe that in the future, manufacturers of smart cars will also be manufacturers of smart robots, creating 1+1 >2 synergy. 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.”
Xpeng isn’t the only automaker venturing into the world of robotics. Most notably, Hyundai purchased Boston Dynamics for $921 million in late 2020 and plans to introduce a host of different robots.
