Alibaba (BABA) leads $100 million investment in Chinese humanoid robot startup

Robots on display at the Robot Mall in Beijing, China, showcase advancements in humanoid technology. X Square Robot secures $100 million in funding, led by Alibaba Cloud (BABA), for their innovative robots. The company releases an open-source foundation model for embodied AI, anticipating the development of “robotic butlers” within five years.

X Square Robot launches the Quanta X2 robot, featuring 360-degree cleaning capabilities and human-like functionality. The humanoid robot is priced at $80,000 and targets markets in schools, hotels, and retirement homes. The company plans an IPO next year and aims to reduce robot prices to $10,000 in the next three to five years.