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Xpeng's Robotics Unit Raises $900 Million in Funding Round Backed by Tencent, Alibaba

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XPeng's (HKG:9868) robotics business, Dogotix, agreed to issue new shares totalling $900 million to certain subscribers, according to a Monday filing with the Hong Kong Exchange.

The funding round is led by IDG Capital, with participation from Tencent Holdings (HKG:0700) and Alibaba Group (HKG:9988) as strategic investors.

The EV maker itself is contributing $200 million, while executive subscribers -- including CEO He Xiaopeng -- are investing $100 million and receiving warrants to purchase additional shares.

The deal gives Dogotix an implied pre-transaction valuation of $5 billion and a post-transaction valuation of $6.3 billion, the filing said.

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