XPENG robotics unit raises over $900 mln at post-money valuation above $6.3 bln
- XPENG said its robotics business entered share purchase agreements with multiple investors for more than $900 mln in a private round valuing the unit at over $6.3 bln post-money.
- The company called it the largest single-round private financing in China's embodied AI industry; IDG Capital led the round, with participation from Gaorong Ventures and strategic support from Tencent and Alibaba.
- XPENG said proceeds will fund humanoid robot mass production and Physical AI model R&D; the robotics business will remain controlled by XPENG and continue to be consolidated in group financials.