Chinese robotics startup Dexmal, backed by Alibaba, is in discussions to raise new funding at a valuation of approximately 20 billion yuan ($3 billion). This fundraising effort highlights significant investor interest in Chinese firms pursuing advancements in physical artificial intelligence.
The current funding talks follow a previous round that included Chinese AI lab Z.AI Co., also known as Zhipu. Dexmal founder Tang Wenbin confirmed these details in an interview at the World Robot Conference in Beijing. The company had earlier secured funding rounds led by Chinese e-commerce giant Alibaba Group Holding Ltd. and NIO Capital late last year.
This move by Dexmal comes amidst a flurry of activity in the robotics and AI sector, particularly in China. Other related news includes Genesis AI seeking a $3 billion valuation for its funding round, Robotera considering a Hong Kong IPO targeting $800 million to $1 billion, and LimX Dynamics confidentially filing for a Hong Kong IPO to raise up to $300 million, following a $200 million pre-IPO round that valued it at approximately $2.21 billion. Moonshot AI also recently secured a $35 billion valuation, far exceeding its initial funding goal.
