$100M is raised in a series by XPeng Robotics. A budget for creating canine-like robots
An offshoot of XPeng, XPeng Robotics, obtained $100 million in capital from several ardent patrons of the business. The business plans to use the series A funds to carry out more research and development on robotic hardware and software. The business is still working on hiring more employees, but it also wants to create a robot that looks like a dog. In order for individuals to have it in their houses, the will be made within the next two years.
HT Aero, an eVTOL (electric vertical takeoff and landing) vehicle developer under the control of XPeng, is currently developing a sixth generation flying automobile that will take to the skies in 2024.
The business established XPeng Robotics in 2016 with the goal of “developing clever robots for the benefit of human civilization.” Since that time, the organisation and its 300-person workforce have devoted practically all of their attention to research and development, with an emphasis on robot powertrains, locomotion control, autonomy, robot interaction, and artificial intelligence.
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The startup displayed their smart robot technology at XPeng Robotics 1024 Tech Day in October of last year in the shape of an AI “pony” outfitted with a 360-degree peripheral camera and LiDAR sensing system, enabling object identification and sound field sensory capabilities.
The XPeng Inc. subsidiary announced the Series A investment round on Tuesday in a press statement from China that included many remarks from the team and from others who participated in the capital campaign, including IDG Capital.
The money will be used by XPeng to expand its research and development, recruit more personnel, and introduce its robots to homes over the next two years. Starting with the quadruped robots from XPeng (shown below), which will have autonomous navigation and a “household-use robotic arm” that can operate as a friend and can take care of, amuse, and transport youngsters, this will happen.
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One of the key investors and partner at IDG Capital, Mr. Cui Guangfu, remarked about the chance XPeng has to offer its distinctive robots.
“Despite being in its early stages of development, the market for home robots has enormous promise. Innovative business teams are developing a variety of items. Together, the R&D efforts of XPENG Robotics and XPeng Inc. produce a distinct competitive edge.
We anticipate that XPENG Robotics will expand the market for domestic robots by making significant investments in R&D. We have the honour of working together once more to expand the market for home robots with Mr. He Xiaopeng. Contrast this with Tesla’s humanoid robot. It seems to be a safe, entertaining robot, but until the items are released, it is impossible to say which would be favoured by consumers.
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