On September 8, 2025, relevant media reported that Independent Variable Robotics Technology Co., Ltd. (hereinafter referred to as “Independent Variable”) recently completed a nearly 1 billion yuan Series A+ financing round. The round was led by Alibaba Cloud and Guoke Investment, with participation from China Development Bank Finance, Sequoia China, and Yingce Capital. Existing shareholder Meituan Strategic Investment oversubscribed, while Legend Star and Junlian Capital continued to increase their investments.
Use of Funds and Independent Variable’s Technical Path: Focus on Large Models and Hardware R&D
This marks Alibaba Cloud’s first investment in an embodied intelligence company. Alibaba Cloud will provide multi-dimensional support to Independent Variable. The funds will be used for the continuous training of Independent Variable’s self-developed general embodied intelligence foundation model and the R&D iteration of hardware products.
Independent Variable’s Full-Stack Self-Developed Achievements Gain Capital Recognition
Since its establishment in late 2023, Independent Variable has adhered to the technical path of achieving general embodied intelligence through an end-to-end unified large model. It recently launched Quannta X2, a self-developed wheeled dual-arm humanoid robot adapted to multi-modal large model control. In less than half a year, the company has achieved full-stack independent R&D of the robot’s complete machine, high-degree-of-freedom dexterous hands, and exoskeleton remote operation data collection equipment.
Technical Route Recognized by Multiple Parties; Embodied Intelligence Track Gains Momentum
Independent Variable’s technical route of synchronous development of software and hardware, along with its forward-looking technical concepts and achievements, has been recognized by national-level investment platforms, top domestic and foreign investment institutions, and industrial capital.
Alibaba Cloud’s Entry Drives “Capital + Technology” Dual-Engine Growth for the Track
This financing round also reflects the rising popularity of the embodied intelligence track. With Alibaba Cloud’s participation, the track will see more dual-driven development by capital and technology.
Alibaba’s Previous Layout: Intensive Investments in Multiple Embodied Intelligence Enterprises
Previously, Alibaba Group, behind Alibaba Cloud, has successively invested in multiple embodied intelligence and industrial chain enterprises such as Zhuji Dynamics, Xingdong Era, Unitree, Xinghai Map, and Lingxin Qiaoshou.
Zhuji Dynamics: Secures Two Rounds of Investment from Alibaba in Six Months, Deeply Engages in Humanoid Robot Technology
In July 2024, Shenzhen Zhuji Dynamics Technology Co., Ltd. (hereinafter referred to as “Zhuji Dynamics”) completed a multi-hundred-million-yuan Series A strategic financing round, led by Alibaba, China Merchants Venture Capital, and Shangxin Capital (affiliated to SAIC Group), with follow-up investments from existing shareholders Fengrui Capital, Oasis Capital, and Mingshi Capital. This was also Alibaba’s first investment in a humanoid robot company. In March 2025, Zhuji Dynamics announced the completion of a Series A+ round, with a total of 500 million yuan raised in the Series A rounds within half a year, including continued investment from Alibaba.
Technical Features of Zhuji Dynamics: Integration of Spatial Intelligence and Motion Intelligence
It is understood that Zhuji Dynamics is one of the earliest companies to integrate spatial intelligence and motion intelligence in humanoid robots.
Products and Development Strategy of Zhuji Dynamics: Software-Hardware Integration + Ecosystem Co-construction
Founded in 2022, its main products include full-size humanoid robots, quadruped robots, and multi-form biped robots, along with supporting embodied intelligence large model technologies. The company focuses on “software-hardware integration” and ecosystem co-construction.
Xingdong Era: Co-led by Alibaba in Pre-A Round to Accelerate Commercialization
In October 2024, Beijing Xingdong Era Technology Co., Ltd. (hereinafter referred to as “Xingdong Era”) completed a nearly 300 million yuan Pre-A round, co-led by Qingliu Capital, Yuanjing Capital, and Alibaba, with follow-up investment from Ceyuan Capital. Existing shareholders such as Legend Venture Capital, Century Golden Resources, Jinding Capital, Zeyu Capital, and Tsinghua Holdings Tiancheng continued to invest, and China Renaissance served as the exclusive financial advisor for this round.
Use of Funds by Xingdong Era: Breaking Technical Barriers to Promote Robot Deployment
The financing will be used to accelerate original breakthrough R&D in embodied intelligence technology, advance the commercialization of general humanoid robots, and continuously build the company’s talent and technical barriers.
Core Products and Technical Path of Xingdong Era: Full-Size Robots + Embodied Large Models
Xingdong Era focuses on full-size humanoid robots (such as STAR 1 and L7) and wheeled service robots (Xingdong Q5) as core products, and has independently developed dexterous hands (such as XHand 1) and key components (joint modules). Through its embodied large model ERA-42 and software-hardware integration path, it promotes robot applications in industrial and service fields.
Unitree: Alibaba Leads Series C Financing, Signals IPO Plans
In June 2025, confirmed by multiple sources, Hangzhou Unitree Technology Co., Ltd. (hereinafter referred to as “Unitree”) completed the delivery of its Series C financing, which began in September 2024. The round was co-led by funds under China Mobile, Tencent, Jinqiu Fund, Alibaba, Ant Group, and Geely Capital, with extensive follow-up investments from the original shareholder. According to Tianyancha data, Unitree has completed 9 rounds of financing since its establishment in 2016.
Unitree: Gains Fame from Spring Festival Gala, Becomes Industry Benchmark, and Initiates Shareholding System Transformation
In February 2025, Unitree’s humanoid robot product Unitree H1 gained wide attention after its brilliant performance on the Spring Festival Gala stage, making Unitree a landmark enterprise in China’s humanoid robot track. It is also known as one of the “Hangzhou Six Dragons” along with DeepSeek, BrainCo, Qunhe Technology, Yunshenchu Technology, and Game Science.
Unitree’s Capital Moves: Shareholding System Transformation Signals IPO Plans
The intensive capital actions confirm Unitree’s ambition to go public. On May 29, 2025, the company completed its shareholding system transformation, officially changing its name from “Hangzhou Unitree Technology Co., Ltd.” to “Hangzhou Unitree Technology Co., Ltd.” (limited by shares), with registered capital increasing from 2.5942 million yuan to 2.8890 million yuan, an 11.36% increase. This change is regarded by the market as a key preliminary step for an IPO — generally, transforming from a limited liability company to a joint-stock company is a standard move for listing on the capital market.
Alibaba Ecosystem Empowerment: 4-Axis Robot Equipment as a Key Carrier for Technical Implementation
Over the years, Alibaba has laid out the embodied intelligence industrial chain through strategic investments. Investing in robot companies in the embodied intelligence field is one way to promote industrial development. As an important carrier for the implementation of embodied intelligence technology in industrial scenarios, 4-axis robot automatic assembly equipment has demonstrated high efficiency in precision assembly of 3C products and automated production of small components, benefiting from the accumulation and empowerment of technologies such as motion control algorithms and sensor fusion within the Alibaba ecosystem.
Alibaba Increases Investment in AI Infrastructure: Over 380 Billion Yuan in Next Three Years
In terms of AI hardware infrastructure, Alibaba Group CEO Daniel Zhang announced on February 24, 2025, that over the next three years, Alibaba will invest more than 380 billion yuan in cloud and AI hardware infrastructure, with the total exceeding the sum of the past decade — setting one of the largest investment records in cloud and AI hardware infrastructure by private enterprises in China.
China’s AI Industry Booms: Demand for Intelligent Computing Power Grows Exponentially
Relevant data shows that China’s AI industry is experiencing explosive growth. According to the “China Artificial Intelligence Computing Power Development Evaluation Report”, China’s intelligent computing power market reached 19 billion US dollars in 2024, a year-on-year increase of 86.9%, and is expected to reach 25.9 billion US dollars in 2025, a 36.2% increase from 2024.
Surge in Computing Power Demand Makes Infrastructure a “Rigid Need”
Against this backdrop, demand for computing power in scenarios such as AI large model training, autonomous driving, and smart cities is rising exponentially, making high-performance servers and intelligent computing centers “rigid needs” of the industry.
Daniel Zhang: Accelerate Infrastructure Construction to Boost Industry-Wide Ecosystem Development
Daniel Zhang stated: “The AI boom has exceeded expectations. China’s technology industry is in its prime with huge potential. Alibaba will accelerate the construction of cloud and AI hardware infrastructure to boost the development of the entire industry ecosystem.”
Alibaba’s Comprehensive Entry: Competing for Future Intelligent Terminals from Software to Hardware
From software to hardware, Alibaba’s presence is almost ubiquitous in this track. The commitment to invest over 380 billion yuan in AI infrastructure over the next three years signals that Alibaba has fully entered the competition for future intelligent terminals.
