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A robot pony maker backed by Chinese EV giant Xpeng raises $100M


China’s Tesla challenger Xpeng isn’t content with just making electric vehicles. It’s also betting on ridable robot unicorns for kids.
Xpeng Robotics, a bionic robot maker affiliated with Xpeng, just raised an impressive $100 million in a Series A round led by IDG Capital, at a time when venture investments are slowing in China.
Other investors include Xpeng itself and some undisclosed backers. It’s unclear how much control Xpeng has over Xpeng Robotics following the latest round. But given their shared brand association, it won’t be surprising the two firms are closely tied up — at least on the development front. Technologies like autonomous driving that Xpeng has been working on are easily applicable to the robot business.
Indeed, as Xpeng’s chairman and CEO He Xiaopeng said in a statement:
“ …

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