Mentioned:
Alibaba wants to be on the leading edge of the robotics revolution. Which is exactly why they’re pouring millions into a humanoid robot startup in China.
What’s happening:
- X Square Robot has successfully raised $140M USD in a new strategic financing round
- The new funding round was co-led by Alibaba (NASDAQ: BABA) and CAS Investment Management
Why it matters:
- X Square Robot is one of the most advanced robotics companies in China and is currently developing multiple new types of humanoid robots that are purpose built for household tasks as well as commercial applications
Going deeper:
- Alibaba has publicly stated their investment into X Square Robots is part of their plans to commit more than $50B USD into artificial intelligence technology and infrastructure over the next three years
- This is not the first time Alibaba has made an investment into a robotics company, previously leading rounds into Zhuqi Dynamics, Beijing Xingtong Era and the Pepper robot venture in partnership with SoftBank
The intrigue:
- Robotics has continued to be a major theme in Asia lately, with Unitree Robotics filing to go public on a major Chinese stock exchange and the world’s first robotics mall launching in Beijing
