## X Square Robot Secures $100 Million in Funding, Eyes IPO
Here’s a quick rundown of the latest news from the world of humanoid robots:
- Major Funding: Chinese humanoid robot startup X Square Robot has raised approximately $100 million in a funding round led by Alibaba Cloud. This brings the total investment in the company to around $280 million.
- Investors: Other investors include HongShan (formerly Sequoia Capital China), Meituan, Legend Star, Legend Capital, and INCE Capital.
- Open-Source AI Model: X Square Robot launched Wall-OSS, an open-source foundation model for “embodied AI,” designed for use in robotics. They claim to be the first to open-source such a model.
- New Robot Launch: The company also unveiled the Quanta X2 robot, featuring 360-degree cleaning capabilities and pressure-sensitive hands.
- Market Outlook: X Square Robot anticipates “robotic butlers” within five years, but acknowledges that AI for robots is still behind generative AI. They are targeting an IPO next year and are already generating revenue from sales to schools, hotels, and retirement homes.
- Future Goals: The company aims to reduce robot prices to around $10,000 within three to five years to enter the consumer market.
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