SenseCapital, the private equity investment under Chinese artificial intelligence (AI) company SenseTime, has co-led the angel and angel+ rounds of embodied AI firm ENGINEAI Robotics Technology.
Local private investment firm Highlight Capital co-led the rounds with the participation of state investor Hefei Binhu State-Owned Capital Operation Holding Group and local investment firm Xunshang Capital, according to a release on August 28.
Founded in October 2023, the Shenzhen-based firm is into the development and production of general-purpose intelligent robots and industry-specific solutions, including humanoid robots.
The firm taps into the red-hot embodied AI sector —an area that refers to the integration of machine learning, computer vision, robot learning, and language technologies.
Most recently, Beijing-based GalaxyBot, an embodied AI startup in China, struck a deal with the Hong Kong Investment Corporation, an investment firm wholly owned by the Hong Kong SAR government, to develop the city’s AI sector.
The partnership comes shortly after Galbot, also known as GalaxyBot, sealed its angel round worth 700 million yuan ($96.4 million) in June – just 12 months after its inception.
CHINA DEAL MONITOR
DealStreetAsia has also compiled a table listing all prominent venture capital transactions in Greater China from August 26 – September 1, 2024.
