Galbot, an embodied artificial intelligence (AI) startup in China, has pocketed another 500 million yuan ($69 million) in a strategic funding round, shortly after closing its angel round in June.
The round roped in a consortium of investors including Hengxu Capital, which is affiliated with state-owned automobile maker SAIC Motor Corp; Hong Kong Investment Corporation (HKIC), an investment firm wholly owned by the Hong Kong SAR government; state capital investor Shenzhen Capital Group; as well as Chinese investment firms Winreal Investment and Golden Vision Capital, among others.
Existing shareholders including IDG Capital, MPC (previously known as Matrix Partners China), Lanchi Ventures (previously known as BlueRun Ventures China), and Beijing Artificial Intelligence Industry Fund also re-upped in the round.
Embodied AI refers to the integration of machine learning, computer vision, robot learning and language technologies in the “embodiment” of artificial intelligence: robots that can perceive, act, and collaborate.
The idea was first explored by Australian roboticist and MIT professor Rodney Brooks in the early 90s, but the advent of ChatGPT in November 2022 has piqued industry interest in the commercialisation potential of new-generation robots equipped with embodied AI.
Galbot was founded in May 2023 by Wang He, an assistant professor at China’s prestigious Peking University, where he leads the Embodied Perception and InteraCtion (EPIC) Lab with his research specialty spanning 3D vision, robotics, and machine learning.
The Beijing-based firm engages in developing general-purpose robots with embodied AGI. With research and development centres in Beijing, Shenzhen, and Suzhou, the firm currently has a team of over 80 people.
The news comes shortly after the embodied AI startup inked a deal with the HKIC to develop Hong Kong’s AI sector, in which Galbot plans to establish a local entity – HK-Galbot Embodied AI Lab – and explore use cases for humanoid robots in the city across industries like retail and tourism as part of the partnership.
Most recently, Beijing-based Robot Era, which develops embodied intelligence and general humanoid robots, also raised almost 300 million yuan ($42.2 million) in its pre-Series A round of financing in October.
Chinese e-commerce giant Alibaba Group, along with domestic venture capital companies Crystal Stream and Vision Plus Capital, led the round with participation from Orinno Capital.