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.
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.