Shanghai (ZXZC)- XPeng announced today its ecological chain member, XPeng Pengxing (formally known as "Pengxing Intelligence"), had signed an agreement for its Series A round with over $100 million raised.

According to XPeng, IDG Capital served as one of the leading investors of the fresh round, while XPeng also took part in this round.

Focusing on consumer-facing scenarios at first, XPeng Pengxing is dedicated to developing bio-inspired intelligent robots that can “live” with humans and popularizing them in numerous families, said XPeng.

Photo credit: XPeng

In early September 2021, XPeng Pengxing launched the third-generation prototype of its first intelligent robotic pony, which was internally code-named “Xiaobailong” ("little white dragon") and claimed as the world's first rideable intelligent robotic horse.

This unveiling of the smart robotic horse made technological breakthroughs over the previous four-legged robots in terms of power modules, motion control, intelligent driving, and intelligent interactions.

Founded in 2016, the Shenzhen-headquartered XPeng Pengxing has built R&D centers in Guangzhou, Beijing, and the Silicon Valley. It has made layouts in such fields as robot power modules, motion control, autonomous driving, human-machine interaction, and robot intelligence. As of June 2022, the company has more than 300 staff members, over 80% of which are R&D talents.