X Square Robot raises $100M in A+ round backed by Alibaba

Source Cryptopolitan

Chinese humanoid company X Square Robot secured $100 million in an A+ round of funding led by Alibaba Cloud and CAS Investment on Monday. The firm’s Chief Operating Officer, Yang Qian, said the initiative is the company’s eighth round of financing since it launched less than two years ago in December 2023.

Qian also revealed that X Square Robot’s latest financing round brings its total investment to roughly 2 billion yuan ($280 million). Other startups also participated in the funding round, including HongShan, Meituan, Legend Star, Legend Capital, and INCE Capital.

X Square releases Wall-OSS’s open-source foundation model

X Square Robot aims to use the funds for the ongoing training of its robot’s self-developed general intelligence foundation model and the development of hardware products. The company’s initiative also comes as the race for household robots heats up globally. Venture capitalists are investing in the humanoid robot industry on the expectation that their integration with generative artificial intelligence will transform how machines interact with human beings.

Qian believes the industry needs robots that operate and complete complex tasks autonomously. She said the robotics industry has now realized that AI is required to enable humanoid robots to expand their capabilities beyond the mere function of performing limited tasks such as grasping objects.

The Chinese humanoid firm also released an open-source foundation model for embodied AI named WALL-OSS. The initiative means that developers and the general public can access the underlying code and use it for free. The firm’s previous WALL-A model was pre-trained and fine-tuned for multitasking, allowing it to generalize to new tasks.

According to the startup, the model is for use cases of tech integrated with hardware, such as robots. The firm said it was the first to open-source an AI model of its kind in the robotics space. X Square Robot also expects robotic butlers to become a reality within five years. 

Qian also acknowledged that advancements in generative AI for chatting or code generation had surpassed those of robots. She also believes that generative AI for robots won’t achieve ChatGPT 3.5-type capabilities for at least 12 months. The company’s COO added that the startup may require less powerful semiconductor chips that can be sourced domestically, despite using Nvidia chips for computing. 

X Square launches Quanta X2 robot

X Square Robots also released its Quanta X2 robot in addition to its open-source software. The company said the robot can attach mop heads for 360-degree cleaning. The self-developed wheeled humanoid robot is designed for diverse scenarios such as service, household, and industrial applications. According to the firm, the robot will also come with hands capable of perceiving subtle pressure changes as it advances its human-like functionalities.

Despite the launch of the new Quanta X2 robot, the company said it doesn’t have any products for mass market delivery. The firm also said specific prices are determined by the robot use case, while research firm Humanoid Guide priced the humanoid robot at $80,000. 

A company like Unitree sells its humanoid robots for $16,000, although it’s unclear how advanced its functions are. Robotic companies need to price their products at around $10,000 to enter the consumer market. X Square Robots will have to largely cut hardware costs – an achievement Qian expects is possible in three to five years.

Qian revealed that X Square Robot is planning an initial public offering next year. She also highlighted that the startup had not yet decided on where the listing would be. The COO added the firm was already generating revenue from sales to schools, hotels, and retirement homes, and expects to grow next year.

X Square Robot CEO and founder, Wang Qian, sees potential in the prospects of AI in the robotics sector. He revealed that the company aims to integrate both hardware and software technologies while promoting the innovation and development of embodied intelligence.

Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin CME gaps at $35,000, $27,000 and $21,000, which one gets filled first?Prioritize filling the $27,000 gap and even try higher.
Author  FXStreet
Aug 22, 2023
Prioritize filling the $27,000 gap and even try higher.
placeholder
Pinduoduo Earnings Incoming: Morgan Stanley Sees Long-Term Profit Potential​Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.
Author  Mitrade
Nov 20, 2024
​Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.
placeholder
Elon Musk’s xAI and Neuralink Launch New Funding Rounds​Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
Author  Insights
Jun 03, 2025
​Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
placeholder
Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
Author  Mitrade
Nov 17, 2025
Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
placeholder
Forex Today: Risk flows dominate markets on US-Iran deal hopesHere is what you need to know on Monday, May 25:
Author  FXStreet
Yesterday 09: 45
Here is what you need to know on Monday, May 25:
goTop
quote