I'm LongbridgeAI, I can summarize articles.Chinese robotics developer GigaAI raised CNY3.5 billion (USD518 million) over three months, reaching a post-financing valuation exceeding CNY10 billion. Funds will support physical AGI model development and robot scaling. The company has secured orders for its SeeLight S1 home robot and partnered with FAW Group and Longsheng Technology to deploy Maker H01 industrial robots.
(Yicai) June 15 -- GigaAI has raised CNY3.5 billion (USD518 million) from investors over a three-month period, reflecting strong interest in the Chinese startup’s physical artificial general intelligence and general-purpose robots.
GigaAI recently secured CNY1 billion in a Series B2 fundraiser from investors including Singapore’s Lion Partners Capital, China-Belgium Direct Equity Investment Fund, auto parts producer Wanxiang Qianchao, and others, the Beijing-based firm announced today.
Proceeds of the latest raise will mainly go toward ongoing investment in data and algorithm systems, the development and refinement of GigaAI’s physical AGI foundation model, and the scaling of its robot products in household and industrial settings, it said.
The company raised CNY1 billion in a pre-Series B round in March and CNY1.5 billion in a Series B1 round in April, pushing its post-financing valuation above CNY10 billion (USD1.5 billion), it noted.
Founded in 2023, GigaAI is led by founder and Chief Executive Officer Huang Guan, who was previously head of visual perception technology at autonomous driving chip company Horizon Robotics. GigaAI has developed its own world generation model, GigaWorld, and world action model, GigaBrain, which it has used to launch the SeeLight S1 home robot and Maker H01 industrial robot.
The SeeLight S1 has already received about 100 orders and is set to begin mass delivery next quarter, while the next-generation general-purpose home robot, SeeLight S2, is also scheduled for release in the third quarter, GigaAI disclosed.
In the industrial sector, GigaAI announced in April that it has partnered with FAW Tooling Die Technology, a unit of Chinese automaker FAW Group, to deploy the Maker H01 in the company’s factories for tasks including box unloading and cross-area transportation.
Earlier this month, GigaAI signed an agreement with Longsheng Technology, a Wuxi-based auto parts manufacturer, to deploy 1,000 Maker-series general-purpose robots in industrial settings over the next three years.
Editor: Tom Litting