Galbot and Noetix Robotics receive new round of fundings

Galbot and Noetix Robotics, both of which participated in the Year of the Horse Spring Festival gala, are reportedly finishing a new round of financing, with Galbot raising 2.5 billion yuan (HK$2.9 billion) and receiving the first investment in embodied artificial intelligence by a large-scale national fund.

Noetix Robotics finished its series B funding for nearly HK$1 billion, led by Contemporary Amperex Technology (3750)'s Chendao Capital, followed by CAS Investment Management, Beijing Jingguosheng Investment Fund, Unity Ventures, and others.

It is reported that Noetix Robotics has completed nine rounds of funding and equity restructuring.

Galbot has received additional financing from Sinopec (0386), CITIC Group Corporation, SAIC Motor Corporation, BOC Asset, Chengdu Science and Technology Innovation Investment Group, China Fortune-Tech Capital, Wuxi Venture Capital, Fujian Jintou Asset Investment, and others.

The company said it will focus on expanding the embodied AI model globally and accelerating the scale-up of the model's productivity.

Galbot raised around US$300 million two months ago, which topped the Chinese embodied AI company for over US$3 billion.

Gloria Leung