TECH

Robotics Startup X Square Secures Fresh Funding Amid Valuation Surge

Published: Feb. 26, 2026 2:27 a.m. GMT+8

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The Quanta X2 humanoid robot unveiled by X Square Robot at the 2025 World Robot Conference in Beijing. Photo: VCG

X Square Robot said Wednesday that it has raised several hundred million yuan in a new funding round, a deal the startup says gives it the highest valuation so far this year among embodied artificial intelligence companies that have disclosed financing.

The round was led by SAIC Capital and a fund jointly managed by China International Capital Corp. (CICC) and SAIC Motor Corp. Ltd. Existing investors, including Meituan Longzhu, HongShan Capital Group and several state-backed funds, also participated. The company said the fresh capital — particularly from automotive-industry investors — will help speed the adoption of embodied AI in vehicle manufacturing.

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X Square Robot raised several hundred million yuan, claiming the highest 2024 disclosed valuation among embodied AI startups; round led by SAIC Capital and CICC-SAAC Motor fund.
Chinese robotics valuations have risen, with rivals Galaxea AI, AI² Robotics, and Spirit AI surpassing 10 billion yuan; X Square Robot also raised nearly 2 billion yuan over previous rounds.
CEO Wang Qian criticized industry originality, citing investor preference for short-term gains, and noted no robot has yet delivered positive ROI in client scenarios.

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Who’s Who

X Square Robot: X Square Robot, founded in December 2023, is an embodied AI company focused on developing robot "brains" using an end-to-end Vision-Language-Action model. It recently secured several hundred million yuan in funding, giving it the highest valuation among embodied AI companies disclosing financing this year. This capital, particularly from automotive industry investors like SAIC Capital, will aid in integrating embodied AI into vehicle manufacturing.

SAIC Capital: SAIC Capital led a recent funding round for X Square Robot, an embodied artificial intelligence company. This investment, alongside a fund co-managed with CICC and SAIC Motor Corp. Ltd., will help accelerate the adoption of embodied AI in vehicle manufacturing. This highlights SAIC Capital's involvement in supporting cutting-edge technology in the automotive sector.

China International Capital Corp.: China International Capital Corp. (CICC) is a financial institution that jointly managed a fund with SAIC Motor Corp. Ltd. This fund was among the leading investors in a recent funding round for X Square Robot, an embodied artificial intelligence company.

SAIC Motor Corp. Ltd.: SAIC Motor Corp. Ltd. was part of a fund managed with China International Capital Corp. (CICC) that led a new funding round for X Square Robot. This investment, from an automotive-industry player, is expected to help X Square Robot accelerate the adoption of embodied AI in vehicle manufacturing.

Meituan Longzhu: Meituan Longzhu is an existing investor in X Square Robot. They participated in the latest funding round, which successfully raised several hundred million yuan for the startup. This investment helped X Square Robot achieve the highest valuation among embodied AI companies disclosing financing this year.

HongShan Capital Group: HongShan Capital Group is an existing investor in X Square Robot, an embodied artificial intelligence company. They participated in a new funding round for X Square Robot, as well as a previous 1 billion yuan Series A++ round.

Galaxea AI: Galaxea AI is a Chinese embodied artificial intelligence company that has recently announced a new funding round. This funding has pushed their valuation beyond 10 billion yuan ($1.4 billion). They are a rival to X Square Robot in the fast-growing robotics sector.

AI² Robotics: AI² Robotics is a competitor to X Square Robot in the robotics sector. It has recently secured new funding rounds, which have pushed its valuation beyond 10 billion yuan ($1.4 billion). This highlights a surge of capital into China's robotics industry, despite existing technological and commercialization challenges.

Spirit AI: Spirit AI is a robotics company that recently announced a new funding round. This financing pushed its valuation to over 10 billion yuan, placing it among a group of fast-growing embodied AI companies in China.

ByteDance Ltd.: ByteDance Ltd. (also known as 字节跳动 in Chinese) is an investor in X Square Robot. They backed X Square Robot's Series A++ funding round in January.

Alibaba Cloud: Alibaba Cloud led a Series A+ funding round for X Square Robot in September 2025, investing nearly 1 billion yuan. This investment highlights Alibaba Cloud's participation in the burgeoning robotics sector in China and its support for companies developing advanced embodied artificial intelligence.

International Digital Economy Academy: Wang Hao, co-founder of X Square Robot, previously worked as an algorithm lead at the International Digital Economy Academy. This academy is mentioned in the context of Wang Hao's past professional experience before co-founding X Square Robot in December 2023.

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What Happened When

December 2023：: X Square Robot was founded.

September 2025：: X Square Robot secured nearly 1 billion yuan in a Series A+ round led by Alibaba Cloud.

January 2026：: X Square Robot raised 1 billion yuan in a Series A++ round, backed by ByteDance Ltd. and HongShan.

February 2026：: Wang Qian gave an interview critiquing the lack of technological originality in the industry.

Wednesday, February 25, 2026：: X Square Robot announced that it raised several hundred million yuan in a new funding round.

Mid to late February 2026：: Rivals including Galaxea AI, AI² Robotics, and Spirit AI announced new funding rounds that pushed their valuations beyond 10 billion yuan.

AI generated, for reference only