Market Chatter: Alibaba Leads 1 Billion Yuan Funding Round in Robotics Firm X Square

MT Newswires Live

Sep 08

Alibaba Group Holding (HKG:9988) has co-led a latest 1 billion yuan Series A+ round in Shenzhen-based robotics startup X Square Robot, Bloomberg News reported Monday.

Alibaba Cloud and CAS Investment Management, a Chinese state-backed fund, anchored the round, alongside HSG, existing backer Meituan (HKG:3690), and Legend Star, the report said.

Founded in 2023, X Square focuses on robotics algorithms rather than hardware, setting it apart from rivals such as Unitree Robotics, according to the report.

The firm also unveiled Wall-OSS, an open-source foundation model aimed at embedding advanced intelligence into machines, in a move seen as a counter to Physical Intelligence, a venture backed by OpenAI, Bloomberg wrote.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0823038988.USD","symbol_name":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2565505687","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2565505687","pubTimestamp":1757314953,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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