Xpeng’s robotics unit valued at over $6.3 billion after record funding round

Chinese automaker Xpeng said on Monday its robotics unit had raised more than $900 million in its first funding round, setting a new record for a single private financing in China’s embodied AI sector.

The funding round, led by IDG Capital and backed by strategic investors ‌Tencent and ⁠Alibaba, ⁠values the robotics business at more than $6.3 billion, Xpeng said in a ​statement.

Gaorong Ventures, an early investor in autonomous driving company Momenta and humanoid robot startup AgiBot, also participated in the funding.