Overview

• The latest raise was led or co-led by Alibaba Cloud with participation from state-backed CAS Investment Management, with reports putting the round at either around $100 million (CNBC) or 1 billion yuan, about $140 million (company statement via NDTV).
• Other investors named include HongShan, Meituan, Legend Star, Legend Capital, INCE Capital and HSG, marking the startup’s eighth financing since its December 2023 launch.
• X Square released Wall-OSS, an open-source foundation model for embodied AI intended to power more autonomous robotics.
• The company also unveiled the Quanta X2 humanoid with pressure-sensitive hands and a mop attachment for 360-degree cleaning, with research firm Humanoid Guide estimating an $80,000 price.
• Executives said the firm is generating revenue from schools, hotels and retirement homes, exploring customers in Japan and Singapore, using Nvidia and domestic automotive chips, and targeting consumer-level pricing near $10,000 within three to five years.