The deal marked Alibaba Cloud ’s first investment in the embodied intelligence field, according to a statement on Monday from X Square Robot. The start-up said it expected “multidimensional support” from the Hangzhou -based company. Alibaba owns the South China Morning Post.
Other firms that took part in the start-up’s latest financing round were CAS Investment, China Development Bank Capital and HongShan Capital Group , as well as existing investors that include food delivery giant Meituan and Legend Capital.
The funding raised “will be used for the continued training of our fully self-developed embodied intelligence foundation models and for the iterative development of our hardware products”, X Square Robot said.
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Humanoid robots show impressive moves at world conference in Beijing
Humanoid robots show impressive moves at world conference in Beijing
Robotics start-ups have become sought-after investment targets, as China develops a humanoid robot supply chain that could quickly deploy these machines in factories and homes.
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