X Square Robot Tops $2.8B Valuation for Embodied AI

For teams tracking physical AI, the signal worth noting is how fast Chinese capital is consolidating behind embodied foundation models rather than narrow task robots. X Square Robot has closed four consecutive financing rounds ending in a Series C, pushing its valuation above $2.8 billion (about 20 billion yuan), the company said on June 29, 2026. IDG participated in the Series C, while HongShan and Xiaomi backed earlier rounds; combined with lead investments from Alibaba, ByteDance, Meituan, and Xiaomi, the startup says it is the only Chinese embodied AI company to win lead-round backing at different stages from all four of the country's top technology firms. X Square is building a full-stack embodied AI system spanning foundation models, robotics hardware, and a data pipeline, anchored by WALL-B, a model introduced in April 2026 that trains perception, language, action, and physical prediction in one network.