## Chinese Startup X Square Robot Raises $100M in Race for Humanoid Robots
X Square Robot, a Chinese humanoid robot startup, has secured approximately $100 million in a funding round led by AlibabaCloud. This investment marks the company’s eighth funding round since its launch in December 2023. Here’s a breakdown of the key takeaways:
- **Significant Funding:** The latest round brings the total investment in X Square Robot to around 2 billion yuan ($280 million).
- **Investor Interest:** The funding round included participation from HongShan (formerly Sequoia Capital China), Meituan, Legend Star, Legend Capital, and INCE Capital.
- **Focus on Embodied AI:** X Square Robot is developing robots that can perform complex tasks autonomously, integrating generative AI to expand their capabilities.
- **Open-Source Model:** The company released Wall-OSS, an open-source foundation model for embodied AI, aiming to accelerate robotics development. They claim to be the first to open source an AI model of its kind dedicated to robotics.
- **Robot Launch:** X Square Robot also launched the Quanta X2 robot, which can attach mop heads for 360-degree cleaning, and comes with hands capable of perceiving subtle pressure changes in a step toward more human-like functionality.
- **Market Outlook:** The company anticipates “robotic butlers” within five years and plans to prepare for an IPO next year. They are already generating revenue from sales to schools, hotels, and retirement homes.
- **Global Expansion:** X Square Robot is exploring opportunities in Japan and Singapore.
- **Price Point:** The company aims to reduce robot prices to around $10,000 within three to five years to enter the consumer market.
For more details, you can read the original article on CNBC: [https://www.cnbc.com/2024/06/17/chinese-humanoid-robot-startup-x-square-robot-raises-100-million.html](https://www.cnbc.com/2024/06/17/chinese-humanoid-robot-startup-x-square-robot-raises-100-million.html)