Chinese hydrogen fuel cell vehicle maker Hybot and embodied intelligence startup AgiBot have completed new funding rounds.
Fuel cell commercial vehicle maker Hybot seals $62m Series A
Hydrogen fuel cell commercial vehicle maker Guangzhou Hybot Technology has secured 450 million yuan ($62.1 million) in a Series A funding round co-led by investment firms CMG-SDIC Capital, Center Venture, and Hydrogenic.
The Series A round was backed by local investment firms including Guangzhou Shuimu Qingyun Equity Investment and Hainan Yide Investment, among others, according to a company release on Monday.
Founded in 2021, Hybot manufactures hydrogen fuel cell commercial vehicles for the logistics industry. The Guangzhou-based firm expects to see Hybot H49, which is claimed to be the world’s first long-haul fuel cell electric vehicle (FCEVs) model, go into mass production in 2025.
Tencent leads embodied intelligence startup AgiBot’s Series B round
Chinese tech giant Tencent has led a Series B funding round for Shanghai-based embodied intelligence startup AgiBot to join its star-studded list of shareholders including HongShan, Hillhouse’s GL Ventures, and electric vehicle maker BYD.
AgiBot raised “a few hundred million yuan” in the Series B round with additional support from participating investors such as three government-backed venture capital platforms in Shanghai, smart terminal maker Longcheer Technology, electric and new energy company Wolong Electric Group, VC firm Lanchi Ventures (formerly, BlueRun Ventures China), and Shanghai Pudong Venture Capital (PDVC), according to an announcement on Monday.
AgiBot, founded in February 2023, operates three core product lines: Yuanzheng, a bipedal humanoid robot designed for commercial use; Genie, a dual-armed robot on wheels; and Lingxi, a smaller humanoid designed for developers and consumers.
The startup is currently valued at about 10 billion yuan ($1.4 billion), according to an SCMP report citing Yao Maoqing, a partner at Agibot and president of the startup’s embodied intelligent unit.
It is said to be in discussions with potential investors for a new funding round at a valuation of 15 billion yuan ($2.1 billion), multiple Chinese media outlets reported.
