July 12, 2022
XPENG Robotics, an affiliate of China’s XPeng Inc., has announced it signed a definitive agreement with a consortium of investors to raise more than $100 million in Series A capital funding. The funding round was led by IDG Capital, supported by XPeng Inc., and other long-time investors.
The company said it will use the funding to further strengthen its full-stack R&D investment in robotic hardware and software, continue to acquire talent, accelerate product development and iteration, and boost its technology and product competitiveness. Dedicated to consumer-oriented technology, XPENG Robotics said it expects intelligent robots to enter households in the next two years, enriching the experience of daily routines and bring profound lifestyle changes.
“Development of the robotics sector is propelled by breakneck progress in science and technology,” said Xu Zhigen, CEO of XPENG Robotics. “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.”
“Smart mobility and intelligent robotics are developing at a speed that’s exceeding expectations,” said He Xiaopeng, chairman and CEO of XPeng. “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 one plus one greater than two 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 Robotics said its 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 specializes 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.