Beijing humanoid robotics hub raises $100 million
Beijing Innovation Center of Humanoid Robotics Co. Ltd. has raised more than 700 million yuan ($100 million) in its first financing round, drawing backing from state-backed investment vehicles and tech giant Baidu Inc. to accelerate the development of embodied artificial intelligence. Completed Tuesday, the round attracted capital from the Beijing Robotics Industry Development Investment Fund, E-Town Capital, the Beijing Gaojingjian Industrial Development Investment Fund and TH Capital. Strategic investors included Baidu and industrial internet provider Kyland Technology Co. Ltd. The deal underscores China’s push to commercialize humanoid robotics, a sector increasingly viewed by policymakers and investors as a new frontier for autonomous efficiency in manufacturing and services.
Aerofugia raises nearly $150 million to get flying taxis certified
Aerofugia, a developer of electric vertical takeoff and landing (eVTOL) aircraft backed by Zhejiang Geely Holding Group Co. Ltd., has secured nearly 1 billion yuan ($144 million) in fresh capital to fund the final regulatory sprint for its flying taxis. The funding round was led by CSC Financial Co. Ltd. and backed by investors including New Alliance Capital, Vertex Ventures, Luminous Ventures and Panorama Capital. While the company did not disclose its current valuation, it said the funds would be used to support the final push toward airworthiness certification for its AE200 series aircraft, establish its global headquarters, and develop commercial business models. The financing highlights the intensifying race within China’s “low-altitude economy,” where state-backed funds are increasingly betting on manufacturers as they transition from technical verification to commercial scale.
Alibaba pledges $432 million in Lunar New Year AI subsidy war
Alibaba Group Holding Ltd. has committed 3 billion yuan ($432 million) to promote its artificial intelligence (AI) chatbot Qwen, escalating a Lunar New Year subsidy war with rivals Tencent Holdings Ltd. and Baidu Inc. as China’s tech giants compete for consumer mindshare. Under the “Spring Festival Treat Plan,” Alibaba aims to attract new users and encourage habitual use of AI-driven shopping by offering free orders and cash incentives. Set to launch on Feb. 6, the campaign will extend beyond the Qwen app to include Alibaba’s core platforms such as Taobao, Fliggy, Damai, Freshippo, Tmall and Alipay, though specific mechanics have yet to be disclosed.
Commercial satellite firm Tianyi starts IPO tutoring
Commercial satellite developer Tianyi Space Technology Co. Ltd. has entered the tutoring phase for an initial public offering in China, according to a China Securities Regulatory Commission filing released Tuesday. Guotai Haitong Securities is acting as the tutoring agency. Also known as Spacety, the company was founded in 2015 and specializes in developing lightweight commercial synthetic aperture radar (SAR) satellites. It has launched 38 satellites to date.
State Council promotes AI integration in agriculture
The State Council issued guidelines on Tuesday to advance rural revitalization and modernization, emphasizing the need to boost agricultural technology innovation. The government called for accelerating the development of smart machinery for hilly terrain and promoting the integration of artificial intelligence with agriculture by expanding the application of drones, the Internet of Things and robotics.
