Beijing's Galaxea AI Raises $100 Million At $700 Million Valuation, Says Humanoids Will Enter Homes In Less Than A Decade

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Beijing-based Galaxea AI has secured more than $100 million across two new financing rounds, pushing its valuation to $700 million and intensifying the race against Tesla (NASDAQ:TSLA) in humanoid robotics, Forbes reported.

The company, founded in September 2023 by a team of scientists from Tsinghua and Stanford universities, says its mission is to build embodied intelligence at a global scale: "10 billion robots for 10 billion people."