XPeng Robotics Raises $900M+ at $6.3B Valuation in First External Round Led by IDG and Gaorong

XPeng's robotics unit closed a first external funding round of more than $900 million at a $6.3 billion post-money valuation, per a Reuters report. IDG and Gaorong Ventures led, with strategic checks from Tencent and Alibaba. The round is the largest single financing announced by a Chinese humanoid-robot spinout to date and follows the unit's 2022 $100M Series A.