China's Robotics Sector Flourishes With Two New Unicorns

WHO:

Techmeme - AI² Robotics and X Square Robot are the two Chinese robotics startups mentioned.

Bloomberg - The startups are backed by Alibaba.

WHAT:

Techmeme - AI² Robotics raised approximately $736 million.

Techmeme - Both AI² Robotics and X Square Robot have been valued at around $2.9 billion.

Bloomberg Markets - The funding rounds indicate strong interest in the robotics sector.

WHERE:

Bloomberg Markets - The developments are taking place in China.

WHY:

Bloomberg Markets - The funding is part of China's efforts to compete with US firms like Tesla Inc. and Figure AI Inc.

HOW:

Techmeme - The funding for AI² Robotics was raised in a recent funding round.

(UPDATED June 29, 2026 12:26 UTC)

AI² Robotics and X Square Robot, two Chinese robotics startups backed by Alibaba, have made headlines with significant funding developments. AI² Robotics raised approximately $736 million, contributing to both companies being valued at around $2.9 billion, which reflects a strong interest in the robotics sector in China. This funding is part of China's strategy to enhance its competitiveness against US firms like Tesla Inc. and Figure AI Inc.