Alibaba (NYSE:BABA) co-led the latest $140 million (1 billion yuan) funding round in the Shenzhen-based robotics startup X Square Robot as it expands into the humanoid and AI sector, Bloomberg reported.
Alibaba (NYSE:BABA) through its cloud division, was a lead investor in this round alongside other major backers like Meituan and HongShan (formerly Sequoia Capital China) and state-backed CAS Investment Management Co.
The funding round brings X Square Robot’s total funding since 2023 to ~$280 million, making it one of the best-funded robotics startups in China.
The robotics startup recently introduced “Wall-OSS,” an open-source embodied AI foundation model available to developers for robotics integration, and unveiled the Quanta X2 humanoid robot, capable of tasks like 360-degree cleaning and offering pressure-sensitive hand movements.