Alibaba Leads $100 Million Investment in Chinese Humanoid Robot Startup X Square Robot
BEIJING—X Square Robot, a fast-growing Chinese humanoid robotics startup, announced it has raised about $100 million in a funding round led by Alibaba Cloud, with participation from HongShan (formerly Sequoia Capital China), Meituan, Legend Star, Legend Capital, and INCE Capital.
Founded in December 2023 and based in Shenzhen, X Square has now raised a total of 2 billion yuan ($280 million) across eight funding rounds. The company is developing humanoid robots powered by embodied artificial intelligence and recently released Wall-OSS, the world’s first open-source foundation model for robotics.
Alongside the funding news, X Square unveiled its Quanta X2 robot, featuring advanced hands with pressure sensitivity and 360-degree cleaning capability. COO Yang Qian said the startup is already generating revenue from sales to schools, hotels, and retirement homes, with plans to expand internationally to markets such as Japan and Singapore.
X Square expects to begin preparations for an IPO next year, but has not yet decided on a listing location. The company believes that mass-market adoption of humanoid robots will depend on lowering costs to around $10,000 per unit within the next three to five years.
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