Tech Brief (Feb. 4): Aerofugia Raises Nearly $150 Million to Get Flying Taxis Certified

Published: Feb. 4, 2026 2:13 p.m. GMT+8

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Beijing humanoid robotics hub raises $100 million

Beijing Innovation Center of Humanoid Robotics Co. Ltd. has raised more than 700 million yuan ($100 million) in its first financing round, drawing backing from state-backed investment vehicles and tech giant Baidu Inc. to accelerate the development of embodied artificial intelligence. Completed Tuesday, the round attracted capital from the Beijing Robotics Industry Development Investment Fund, E-Town Capital, the Beijing Gaojingjian Industrial Development Investment Fund and TH Capital. Strategic investors included Baidu and industrial internet provider Kyland Technology Co. Ltd. The deal underscores China’s push to commercialize humanoid robotics, a sector increasingly viewed by policymakers and investors as a new frontier for autonomous efficiency in manufacturing and services.

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Beijing Innovation Center of Humanoid Robotics raised over $100 million in its first round, with backing from Baidu and state funds.
Aerofugia secured nearly $144 million to advance eVTOL flying taxi certification and global expansion.
Alibaba pledged $432 million in AI chatbot subsidies for Lunar New Year, while China's State Council urged wider AI use in agriculture.

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Who’s Who

Beijing Innovation Center of Humanoid Robotics Co. Ltd.: Beijing Innovation Center of Humanoid Robotics Co. Ltd. raised over 700 million yuan ($100 million) in its first financing round. Investors included state-backed funds and Baidu Inc., aiming to accelerate humanoid AI development. This deal highlights China's drive to commercialize humanoid robotics for manufacturing and services.

Baidu Inc.: Baidu Inc. is a Chinese tech giant that has invested in the Beijing Innovation Center of Humanoid Robotics Co. Ltd., aiming to accelerate the development of embodied artificial intelligence. Baidu is also engaged in a subsidy war with rivals like Alibaba and Tencent, offering incentives to promote its AI chatbot Qwen during the Lunar New Year.

Kyland Technology Co. Ltd.: Kyland Technology Co. Ltd. is an industrial internet provider. It was a strategic investor in the first financing round of Beijing Innovation Center of Humanoid Robotics Co. Ltd., which raised $100 million.

Aerofugia: Aerofugia, backed by Zhejiang Geely Holding Group Co. Ltd., secured nearly $144 million in funding. This capital will accelerate the airworthiness certification of its AE200 series aircraft, establish a global headquarters, and develop commercial business models for its electric vertical takeoff and landing (eVTOL) flying taxis.

Zhejiang Geely Holding Group Co. Ltd.: Zhejiang Geely Holding Group Co. Ltd. backs Aerofugia, an electric vertical takeoff and landing (eVTOL) aircraft developer. Aerofugia recently raised nearly $150 million to fund the certification of its flying taxis, establish its global headquarters, and develop commercial business models.

CSC Financial Co. Ltd.: CSC Financial Co. Ltd. led a funding round for Aerofugia, an eVTOL aircraft developer backed by Zhejiang Geely Holding Group Co. Ltd. Aerofugia secured nearly 1 billion yuan ($144 million) to fund the final regulatory steps for its flying taxis.

New Alliance Capital: New Alliance Capital is an investor that participated in a funding round for Aerofugia. Aerofugia, backed by Zhejiang Geely Holding Group Co. Ltd., secured nearly $144 million to fund the final regulatory steps for its flying taxis.

Vertex Ventures: Vertex Ventures participated as an investor in Aerofugia's recent funding round, which secured nearly $144 million. Aerofugia, backed by Zhejiang Geely Holding Group Co. Ltd., develops electric vertical takeoff and landing (eVTOL) aircraft, also known as flying taxis. The raised capital will help Aerofugia achieve airworthiness certification for its AE200 series aircraft and establish its global headquarters.

Luminous Ventures: Luminous Ventures (光辉创投) is an investor in Aerofugia, a developer of electric vertical takeoff and landing (eVTOL) aircraft. Aerofugia, backed by Zhejiang Geely Holding Group Co. Ltd., secured nearly $144 million in a funding round led by CSC Financial Co. Ltd.

Panorama Capital: Panorama Capital is an investor that contributed to the nearly $150 million funding round for Aerofugia. Aerofugia, backed by Zhejiang Geely Holding Group Co. Ltd., is a developer of electric vertical takeoff and landing (eVTOL) aircraft. The funds will support Aerofugia's push for airworthiness certification for its AE200 series aircraft.

Alibaba Group Holding Ltd.: Alibaba Group Holding Ltd. has committed $432 million to promote its AI chatbot Qwen as part of a Lunar New Year subsidy war with Tencent and Baidu. This initiative aims to attract new users and encourage AI-driven shopping across its platforms like Taobao and Tmall.

Tencent Holdings Ltd.: Tencent Holdings Ltd. is referenced in the article as a competitor in China's AI chatbot market. Like Alibaba Group Holding Ltd. and Baidu Inc., Tencent is involved in a "Lunar New Year AI subsidy war," competing for consumer engagement with artificial intelligence during the festive period.

Tianyi Space Technology Co. Ltd.: Tianyi Space Technology Co. Ltd., also known as Spacety, is a commercial satellite developer founded in 2015. Specializing in lightweight commercial synthetic aperture radar (SAR) satellites, the company has successfully launched 38 satellites to date. Tianyi is currently preparing for an initial public offering in China.

Guotai Haitong Securities: Guotai Haitong Securities, or 国泰君安证券股份有限公司, is the tutoring agency for commercial satellite developer Tianyi Space Technology Co. Ltd.'s initial public offering in China. This indicates their role in preparing Tianyi Space for its IPO, a crucial step in listing on the stock market.

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