- Xpeng Inc (NYSE:XPEV) said its affiliate, XPENG Robotics, has signed a definitive agreement with a consortium of investors to raise over $100 million for its Series A capital funding.
- The funding round is led by IDG Capital, supported by XPeng and other long-time investors.
- Xpeng noted that Series A financing is the largest single-tranche fundraising for the bionic robot sector in China in the past two years.
- The funding enables XPENG Robotics to strengthen further its full-stack R&D investment in robotic hardware and software, talent acquisition, and accelerating product development and iteration.
- “The household robot market, still in its initial exploration phase, presents immense potential,” said IDG capital partner Cui Guangfu.
- XPENG Robotics was established in 2016, and its first product is a quadruped robot with superior autonomous navigation, able to deliver safe and agile motion performance with a multi-modal emotional interaction function.
- Price Action: XPEV shares are trading lower by 0.96% at $28.97 in premarket on the last check Tuesday.
Heliogen Q2 EPS $(0.11) Misses $(0.06) Estimate
Heliogen (NYSE:HLGN) reported quarterly losses of $(0.11) per share which missed the analyst consensus estimate of $(0.06) by 83.33 percent.
