X Square Robot raises $293.3M Series B

Xiaomi's strategic investment arm led the round, and the company plans to test its new robots in real households by late May. Some trackers say HongShan co-led. The money is earmarked for near-term productization and for collecting data from real-world use cases. The company has partnered with 58.com to put robots into homes, working alongside human cleaners. The trials will use its in-house foundation model, WALL-B. The round followed fast. A February raise of hundreds of millions of yuan put the valuation above 10 billion yuan, after a 1 billion yuan Series A++ in January and a near-1 billion yuan Series A+ in September 2025. With Xiaomi in, the backer list covers all four major Chinese tech giants. One aggregator also lists a Series C in June 2026 with a post-money valuation above RMB 20 billion. That entry is unverified and has no disclosed amount. For AI founders, the signal is that capital is concentrating in embodied AI companies that own their model and collect their own real-world data. Home deployment is widely expected to be years away, and this company is attempting it within weeks. Strategic investors with distribution can set the pace, so hardware and model startups face rivals funded at this scale.