US$1.39b robotic fund up and running in Beijing to back robotic firms

Currently, Beijing already stands above the crowd as the first provincial-level locality nationwide to boast an innovation center dedicated to humanoid robot.

Beijing recently set up a much-anticipated robotic industrial fund valued at 10 billion yuan (US$1.39 billion) in one of the city’s tech clusters, in a bid to evolve into a world-class robotic powerhouse.

The new fund, which is backed mainly by state financiers, is incorporated in the Beijing Economic-Technological Development Area in E-Town, a satellite town about 30 km southeast of the downtown.

Chinese media reports did not disclose the limited partners of the fund.

cnrobopedia reported earlier that the first close of the 10-billion-yuan fund will be no less than 2 billion yuan.

Its scope of investment revolves around robotics-related segments in the Chinese capital and the country as a whole.

Specifically, portfolio companies include players involved in robots per se, key parts, industrial chains and innovative applications.

Humanoid robot

Currently, Beijing already stands above the crowd as the first provincial-level locality nationwide to boast an innovation center dedicated to humanoid robot.

The center has gathered firms working on robotic bodies, core components and large language models (LLM) undergirding generative AI.

According to Xiong Youjun, general manager of the center, it aims to construct a full-stack technological ecosystem surrounding robotics.

Image credit: Unsplash

For one thing, the center’s role is to craft physical AI agents such as the robotic arm, hand, foot and joint.

For another, R&D work at the center also touches upon motion planning and control, LLM formulation and more.

Technical breakthroughs and product iterations are expected to materialize in steps, as part of an incremental approach to developing robotics, AI, LLM and ecosystem, Xiong noted.

To date, 110 robotic companies have moved into the robotic cluster at E-Town, spanning dimensions throughout the industrial chain, from core parts to applications.

Beijing’s goal is to build this hub into a “commanding height” and “demonstration zone” for robotic technologies, high-end manufacturing and applications.

By 2025, the hub is forecast to reach an annual output in excess of 10 billion yuan.

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Ni Tao

Ni Tao is the founder and editor-in-chief of cnrobopedia. Prior to cnrobopedia, he had a full decade of experience with a major state-run English-language newspaper as a tech reporter and opinion writer. He is also a communications specialist, having provided consultancy services to established firms like Siemens, Philips, ABinBev, Diageo, Trip.com Group (Nasdaq: TCOM, HK: 9961), Jianpu Technology (NYSE: JT) and a handful of domestic startups. A graduate of Fudan University, he writes widely about China's business and tech scenes and other topics for global publications including South China Morning Post, SupChina, The Diplomat, CGTN, Banking Technology, among others, and tries to impart his experience to students at Fudan University Journalism School, where he is a part-time lecturer. When he's not writing about robotics, you can expect him to be on his beloved Yanagisawa saxophones, trying to play some jazz riffs, often in vain and occasionally against the protests of an angry neighbor. Get in touch with him by dropping a line at nitao0927@gmail.com.

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