X SQUARE ROBOT Completes Four Consecutive Financing Rounds, Valuation Exceeds 20 Billion Yuan

Editor | Zinan

The domestic embodied intelligence track has once again reached an important moment.

According to reliable sources, leading embodied intelligence enterprise X SQUARE ROBOT has consecutively completed four major financing rounds within two months, with all settlements confirmed completed. Currently, X SQUARE ROBOT's post-money valuation has broken the 20 billion yuan mark, becoming the first and only embodied intelligence enterprise in the Greater Bay Area with a valuation exceeding 20 billion yuan.

More notably, all these investments have been fully settled, and all financing funds have arrived.

It has gathered a luxurious investment lineup including internet giants, national teams, industrial capital, and top VCs, which is rare in the industry.

Collective Heavy Bets by Giants from All Fields

In the already hot embodied intelligence field, the news announced by X SQUARE ROBOT has still attracted industry attention.

Following the announcement of completing the B-round financing led by Xiaomi Strategic Investment in late April this year, X SQUARE ROBOT consecutively completed B+, B++, and C-round financing within just over two months. X SQUARE ROBOT is the only embodied enterprise in China to receive leading investments from four major internet manufacturers respectively, and to be invested in multiple times. Among them, Meituan (A-round), Alibaba (A+ round), ByteDance (A++ round), and Xiaomi (B-round) each led one round and invested multiple times.

More importantly, these four financing rounds have 100% completed all settlements. In the current capital market environment, this certainty of funds quickly landing fully proves capital's desire and trust in underlying technology and business prospects.

Along with the smooth settlement of financing, X SQUARE ROBOT's post-money valuation has officially exceeded 20 billion yuan, establishing an absolute leading position.

The investor lineup exposed in the latest round of financing is truly luxurious. Confirmed investors include China Mobile, CPIC Investment, Sequoia China, IDG Capital, Source Code Capital, Dawn Capital, CICC Capital, and more than 30 other top institutions, internet giant capitals, industrial capitals, and national and local funds. Xiaomi Strategic Investment participated consecutively in three rounds of financing.

X SQUARE ROBOT has almost gathered all the most powerful top institutions in the current venture capital market, forming a rare phenomenon of "collective heavy bets by giants from all fields" in the industry.

Embodied Industry's "Strongest Brain" and Full-Stack Technology Barriers

Behind the high valuation is the technology moat X SQUARE ROBOT has built on embodied large models.

X SQUARE ROBOT is one of the earliest enterprises in China to adopt a fully end-to-end path to achieve a general embodied intelligence large model. Its WALL-B embodied large model, released in April this year, is the world's first based on the "World Unified Model (WUM)" architecture. It places capabilities such as vision, language, action, and physics prediction into the same network for joint training, completely eliminating boundary loss between modules.

WALL-B synchronously annotates and jointly trains multimodal data such as vision, hearing, language, touch, and action from the initial stage of training, achieving true "multimodal input, multimodal output." It does not need to translate information between different functional modules; perception and action decision-making are generated synchronously.

On this basis, the WALL-B model possesses industry-first native proprioception: without continuously observing its own whole body or relying on extensive external sensor calibration, it can inherently perceive its own spatial dimensions (height, width, arm extension range, joint limits, etc.), autonomously judge whether it can pass through narrow spaces or reach target objects, similar to humans' innate body space cognition ability.

Furthermore, the model has a native physics "worldview," possesses strong zero-shot generalization capabilities, and has interactive closed-loop self-evolution capabilities. Currently, robots equipped with WALL-B have begun to reside permanently in user homes, accepting the highest test of generalization capabilities.

Not only that, in the past three months, X SQUARE ROBOT has demonstrated its technical dominance to the outside world through intensive technology open-sourcing and releases.

Among them, the open-source model WALL-OSS-0.5 possesses strong task completion capabilities through pre-training alone. In 17 real-machine tasks, 4 tasks had an autonomous completion rate exceeding 80% without post-training, leading mainstream open-source models in operation and reasoning tasks. It is also the first open-source solution in the industry to verify that "pre-training state can directly deploy real machines, with performance comparable to fine-tuned models."

The WALL-WM world model has become the world's first world model with event-level prediction capabilities. It abandons traditional uniform time sampling, aligning multimodal data through events, enabling the model to truly understand the evolution laws of the physical world.

X SQUARE ROBOT has currently formed a complete technology matrix of "closed-source flagship + open-source base + open-source world model."

"Model - Data - Body" Full-Stack Self-Developed Closed Loop

On the road to general embodied intelligence, X SQUARE ROBOT adheres to first principles, building data and body aspects itself. Recently, the company has made substantial progress in data infrastructure and robot body landing. On the data end, it completed the open-sourcing and large-scale verification of a full-link body-less data collection solution. On the body end, it achieved mass production entry into homes and commercial viability for home service robots, forming a "data - model - hardware - scenario" closed-loop flywheel.

In the data system, X SQUARE ROBOT officially open-sourced XRZero-G0 in June, which is China's first software-hardware integrated solution to run through the "whole-body body-less collection → automatic quality inspection → mixed training → real-machine evaluation" closed loop. It core solves the industry pain points of embodied data "expensive collection, low usability rate, difficult cross-body migration." The team verified the optimal mixed training ratio through experiments, reducing the acquisition cost of effective training data by 95%, only 1/20 of traditional real-machine collection solutions.

In terms of body hardware, the new generation wheeled dual-arm home robot equipped with the WALL-B embodied large model officially entered the first batch of real homes on May 25. It completed hardware adaptation upgrades for home scenarios and can execute daily housework tasks such as object storage, basic cleaning, and item delivery. According to the introduction, the hardware-side companion end-side real-time visual desensitization capability provided by X SQUARE ROBOT ensures original images do not leave the device. Combined with an active authorization mechanism, it can adapt to home privacy scenario needs.

At the same time, X SQUARE ROBOT cooperated with 58.com to launch human-machine collaborative home services, launched in places such as Shenzhen and Beijing. Among them, robots are responsible for living room area storage and basic cleaning, while humans undertake complex links such as communication coordination and deep cleaning. Service pricing is on par with pure human cleaning at the same level, verifying commercial value while providing interaction data from real home scenarios for the model continuously.

The solution provided by X SQUARE ROBOT has also achieved landing verification in industrial scenarios such as auto parts production lines.

Conclusion

Of course, current general embodied intelligence is still in the early stage of scaled entry into homes. Long-cycle usage feedback from the first batch of families, commercial replication efficiency, and the activity of the open-source ecosystem will all become tests of whether this technology flywheel can continue to accelerate. From lab demos to daily home use, from single-point task execution to general housework capabilities, the industry still has multiple hurdles to cross regarding cost, reliability, user experience, etc.

What is certain is that with the continuous release of combined forces of capital, technology, and scenarios, the domestic embodied intelligence industry has officially crossed the "from 0 to 1" sprouting period and entered the "from 1 to N" landing race stage. The full-stack path run by X SQUARE ROBOT will also provide a commercial landing sample for reference for the entire industry.

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