Krux
March 4, 2026
China's State AI Fund Backs $362M Robot Round
Published: March 4, 2026 at 6:39 AM
Updated: March 4, 2026 at 6:39 AM
100-word summary
Galbot just closed a $362 million round led by China's national AI fund, valuing the humanoid robot maker above $2.9 billion. It's now China's highest-valued unlisted robotics firm. The money will fund its embodied AI model and factory rollouts at clients like Toyota, Bosch, and battery giant CATL. Galbot has raised nearly $700 million in three months, all with heavy state and industrial backing. The company is eyeing a Hong Kong IPO next. Beijing is betting humanoid robots will staff Chinese factories before they reach American ones.
What happened
Galbot just closed a $362 million round led by China's national AI fund, valuing the humanoid robot maker above $2.9 billion. It's now China's highest-valued unlisted robotics firm. The money will fund its embodied AI model and factory rollouts at clients like Toyota, Bosch, and battery giant CATL. Galbot has raised nearly $700 million in three months, all with heavy state and industrial backing. The company is eyeing a Hong Kong IPO next.
Why it matters
Beijing is betting humanoid robots will staff Chinese factories before they reach American ones.