Galbot Secures CNY 700 Million in Angel Round Financing

Technology Author: EqualOcean News Jun 25, 2024 06:38 PM (GMT+8)

Beijing Galbot Robotics Co., Ltd. (Galbot or 银河通用) recently announced the successful completion of its angel round financing, raising a total of CNY 700 million.


This round of funding was led by strategic and industrial investors including Meituan(美团), BAIC Industrial Investment(北汽产业投资), SenseTime Guoxiang Fund(商汤国香基金), and iFlytek Fund(讯飞基金). Prominent financial institutions such as Qiming Venture Partners(启明创投), Lanchi Ventures(蓝驰创投), Matrix Partners China(经纬创投), Source Code Capital(源码资本), and IDG Capital(IDG资本) also participated, with Lighthouse Capital(光源资本) involved in early investments.

Founded on May 19, 2023, Galbot focuses on developing robots equipped with Artificial General Intelligence (AGI), aiming to provide general-purpose robotic services worldwide. The company's team members have published over 50 top-tier academic papers on large embodied models, demonstrating world-leading capabilities in embodied AI research and development. They have also amassed extensive experience in selling tens of millions of smart devices. Galbot has established R&D centers in Beijing, Shenzhen, and Suzhou, and has partnered with Peking University to set up a joint laboratory, as well as with the Beijing Academy of Artificial Intelligence to create a research center dedicated to embodied AI.

Currently, Galbot boasts a professional team of over 80 members, specializing in algorithm, software, and hardware development, with the team size rapidly expanding.

Embodied Intelligence refers to intelligent systems or machines capable of real-time interaction with their environment through perception and interaction. These systems typically possess abilities in perception, cognition, decision-making, and action, and are considered the ultimate form of AI. Compared to traditional robotic arms and robotic dogs, humanoid robots offer greater mobility and human-like interaction, providing superior versatility.

The embodied intelligence market has seen rapid growth in recent years, thanks to breakthroughs in large AI models. Traditional robots require engineers to decompose tasks into a series of short, programmed instructions for specific scenarios. In contrast, embodied intelligent robots equipped with large AI models function with a powerful "brain," making significant strides in understanding, continuous decision-making, and human-computer interaction, allowing for efficient and natural interaction with humans and the real world.

The explosion of AI technology in recent years has provided a new development opportunity for the previously tepid robotics industry. According to Markets and Markets, the global embodied intelligence market is projected to grow from USD 1.8 billion in 2023 to USD 13.8 billion by 2028.

Recently, the investment fervor in the embodied intelligence sector has intensified. AI+robotics company Agibot(智元机器人) has launched its first-generation robot, Agibot Expedition A1(智元远征A1), and has completed multiple rounds of financing, attracting top-tier institutions such as Hillhouse Capital(高瓴资本), Matrix Partners China(经纬创投), CDH Investments(鼎晖投资), Gaorong Capital(高榕资本), Lanchi Ventures(蓝驰), Hongshan China(红杉中国), as well as industrial investors like BYD(比亚迪), SAIC Capital(上汽创投), and Baidu Ventures(百度风投). In February this year, Unitree(宇树科技) completed its B2 round of financing, with investors including Meituan(美团), Goldstone Investment(金石投资), and Source Code Capital(源码资本), raising nearly CNY 1 billion. Within the past month, Dexforce(跨维智能) completed a strategic round of financing led by Lenovo Capital(联想创投), and General Legged Robot company LimX Dynamics(逐际动力) announced a new round of strategic financing, with investment from Alibaba’s Hangzhou Haoyue Enterprise Management Co., Ltd(杭州灏月企业管理有限公司). Additionally, AI flexible polishing robot company Stihl announced it had secured nearly CNY 100 million in a Series A round, co-invested by Zheshang Venture Capital(浙商创投) and China Aerospace Science and Industry Corporation(航天科工).