XPeng Robotics, a company with its headquarters in Shenzhen, has raised $100 million in a Series A investment sponsored by IDG Capital. The parent company of the tech company, XPeng Motors, also participated in the round.
With more than 300 staff members and an emphasis on fields including automotive design and manufacture, locomotion control, and AI, XPeng Robotics was founded in 2016.
The first item produced by XPeng Robotics, a rideable “robot unicorn” with attributes including autonomous navigation, was introduced in 2021.
The business intends to utilize the additional funding to increase its expenditures on hardware and software designed specifically for robots and to accelerate product development, among other enhancements.
In the next two years, it hopes to “enter families” with intelligent robots, which it is also working to build.
“The household robot market, still in its initial exploration phase, presents immense potential. Different entrepreneurial teams are innovating to create different products,” Cui Guangfu, a partner at IDG Capital, said in a statement.
