Robotics AI Firm Dexmal Seeks $3 Billion Valuation in New Funding Round

Chinese robotics and AI firm Dexmal is actively seeking a $3 billion valuation in an ongoing funding round, according to Bloomberg. The company, led by founder Tang Wenbin, is developing embodied artificial intelligence to control robots. Alibaba Group Holding, a major eCommerce and AI player, has previously led Dexmal's funding rounds, as reported in February.

China currently hosts over 140 companies working on humanoid robotics, deploying these machines in factories, hotels, and offices across the country. The Chinese government is actively supporting the industry, with cities like Beijing setting aside investment funds exceeding $26 billion to fuel the sector. Government agencies and state-owned businesses are also participating, with robots now managing museums, events, and even directing traffic.

Similar interest in robotics AI is evident globally, with Uber's Travis Kalanick's Atoms raising $1.7 billion for physical AI applications across various industries. In the UK, robotics firm Humanoid was recognized as Europe's first humanoid robotics unicorn after securing $152 million in Series A funding. The funds will aid in developing and launching its humanoid robotics platform, with applications in logistics, manufacturing, and retail.

North American companies have also shown increasing investment in robots, with 8,940 units worth $622 million ordered in the second quarter, a 4.3% increase in units and a 21.3% rise in revenue compared to the previous year.