China's biggest single cheque for robot bodies: $900 million at a $6.3 billion valuation, for a humanoid due in production this year
XPeng announced on Monday 24 August that its robotics business has raised more than $900 million at a post-money valuation above $6.3 billion, in the unit's first outside funding round. The company calls it the largest single private financing in the history of China's embodied-AI sector. IDG Capital led, Gaorong Ventures took part, and Tencent and Alibaba came in as strategic backers. Of the total, roughly $600 million comes from outside investors, about $200 million from an XPeng subsidiary and $100 million from the leadership team. The money is aimed at getting IRON, XPeng's humanoid, into mass production by the end of 2026, with first deployments in XPeng's own stores and campuses before deliveries to customers in China and abroad begin in 2027. IRON is the robot XPeng cut open on stage last November, after viewers online accused the company of putting a person in a costume.
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