State of the Machines: Capital Dispatch — Week of Jun 29, 2026
Quantum Systems, X Square Robot and AI2 Robotics led a week of large autonomy, humanoid and embodied-AI capital moves.
Quantum Systems raises $1.2B Series D
Quantum Systems raised $1.2 billion at an approximately $8 billion post-money valuation, more than doubling the German drone maker’s valuation.
The Series D was co-led by Blackstone, Noteus, Airbus and Advent. Quantum said the funding will support production scale-up, supply-chain resilience, software and AI development, and expansion of its MOSAIC UXS multi-domain autonomy stack.
The company expects 2026 revenue above €700 million, around €200 million EBITDA, and is targeting €1 billion revenue in 2027.
Recent months have a cluster around German autonomy and robotics. STARK raised €500 million last week for autonomous defence systems at a reported €3.2 billion to €3.5 billion valuation, while Helsing has reportedly been raising at a higher valuation after expanding from defence AI software into uncrewed systems. Outside defence, NEURA Robotics recently announced an up to $1.4 billion Series C, while Agile Robots has reportedly been preparing a major round targeting $800 million.
Quantum is also evaluating adjacent product areas, including robotics and more software-led systems.
Source: Quantum Systems.
AI² Robotics raises nearly RMB 5B
Shenzhen-based AI² Robotics raised nearly RMB 5 billion, roughly $700 million, in new financing.
CLS reports the round takes the company’s valuation above RMB 20 billion, or roughly $2.8 billion.
AI² says the funding will support iteration of its “robot brain,” scaled production, and development across its model, hardware and scenario stack.
The company develops AlphaBot semi-humanoid general-purpose robots around its Alpha Brain and NeuroVLA model work.
AI²’s own production line started in September 2025, with annual capacity now above 2,000 units. The company is also planning a tens-of-thousands-unit production line in H2 2026.
Source: AI².
X Square Robot closes B+, B++ and C rounds
Shenzhen-based X Square Robot says it has completed another round sequence after its Xiaomi-led Series B in April.
Chinese media reports say the company has closed B+, B++ and C rounds, taking its post-money valuation above RMB 20 billion, roughly $2.8 billion.
Named investors include China Mobile, the National AI Industry Investment Fund, Sequoia China, IDG Capital, Source Code Capital, Dachen Caizhi and CICC Capital.
The company develops embodied-AI foundation models and semi-humanoid general-purpose robots through its WALL model stack and Quanta robot line.
Founded in late 2023, X Square has already drawn capital from Xiaomi, Alibaba Cloud, ByteDance, Meituan, Sequoia China and other major strategic and financial investors.
Source: X Square Robot.
Funding Ledger
| Date | Company | Type | Signal |
|---|---|---|---|
| Jun 29 | AI2 Robotics / ~$700M; >$2.8B val. | New financing | AlphaBot robots, AlphaBrain and scaled production. |
| Jun 30 | DexForce / 跨维智能 / ~$139M; >$1.4B val. | Series B | Embodied world models, simulation stack and humanoid capability buildout. |
| Jul 1 | Zeroth Robotics / ~$70M | Pre-A | Consumer embodied robots; reported 30,000+ orders. |
| Jun 29 | Archon Robotics / Several hundred million RMB | Seed | Whole-body humanoid foundation models. |
| Jun 30 | NeoWa Robotics / ~$7M / RMB50M | Angel | Embodied mobility intelligence and world-traversal model for robot mobility. |
| Jun 29 | X Square Robot / Amount undisclosed; >$2.8B val. | B+, B++ and C | WALL embodied-AI model stack and Quanta robot line. |
| Jun 29 | Delta Intelligence / Undisclosed | Five rounds disclosed | Foundation models and embodied-intelligence system architecture. |
| Jul 1 | MindOn / Undisclosed | Pre-A / early financing | Robot foundation models and universal robot intelligence. |
| Date | Company | Type | Signal |
|---|---|---|---|
| Jul 1 | CarbonSix / $40M | Series A | Manufacturing robotics. |
| Jul 2 | Alva Industries / ~$19M / EUR 16M | Equity financing | Compact electric motors for robotics, aerospace, medical devices and defence. |
| Jul 1 | Luxonis / $14M | Series A | OAK cameras, DepthAI and robot perception. |
| Jul 1 | Hangmo Technology / ~$14M / nearly RMB100M | Angel | Variable-stiffness joints, exoskeleton and robotics actuation. |
| Jun 29 | Proception AI / $11M | Seed | Dexterous robotic hands and manipulation. |
| Jun 29 | Perception Era / Tens of millions RMB | Angel | Robot tactile skin and e-skin. |
| Jun 23 | Huiguang Innovation / Tens of millions RMB | Seed + Angel | Visual-tactile sensors and tactile-data systems. |
| Jul 1 | Motorevo / Quanzhibo / Undisclosed | A+++ | Integrated robotic joint modules; GL Ventures led, with AgiBot and Linkerbot joining as strategic investors. |
| Jun 29 | Tesollo / Undisclosed | Series B | Robotic hands and end-effectors. |
| Jun 29 | Vitai Robotics / Undisclosed | Pre-A | Fingertip tactile sensing, tactile end-effectors and bionic perception. |
| Jul 1 | Zhongke Yukun / Undisclosed | Seed | Robot spatiotemporal intelligence. |
| Date | Company | Type | Signal |
|---|---|---|---|
| Jul 2 | Quantum Systems / $1.2B / ~$8B val. | Series D | Defence autonomy and drone systems. |
| Jul 1 | Dominion Dynamics / ~$100M / CAD$139M | Series A | Arctic surveillance, command-and-control and drone systems. |
| Jul 1 | SPARO / 硅羽科技 / Several hundred million RMB | Four rounds disclosed | General aerial intelligence and drone autonomy stack. |
| Jun 30 | Esh-Tech / $18M | Funding round | Counter-drone directed-energy production for DroneLight. |
| Jul 1 | Emesent / ~$16M / A$25M | Funding | Autonomous mapping. |
| Jun 30 | Six Robotics / ~$14M / EUR 12M | Seed | Unmanned-systems autonomy software and swarm coordination. |
| Jun 29 | BeeX / $7.7M | Series A | Autonomous underwater drones and maritime autonomy. |
| Date | Company | Type | Signal |
|---|---|---|---|
| Jul 1 | DISCOVER Robotics / Reported >$100M | Angel / first financing | Consumer embodied robots and home robotics. |
| Jul 1 | 10Beauty / $23.5M | Funding | Robotic manicure systems and retail / salon rollout. |
| Jun 30 | Queue / $12.6M | Seed | Autonomous robotic pharmacy kiosk. |
| Jun 30 | Amity Robotics / $7M | Seed, equity + debt | Service and concierge robots; ARC Base and planned ARC Move. |
| Jul 2 | Rosota / ~$1M / KRW1.5B | Seed | AI-native surgical robotics and surgical-data collection. |
| Jul 1 | ClickMobot / KeliDian / Undisclosed | Strategic financing | Eldercare companion robots and rehabilitation walking / transfer robots. |
| Jul 2 | OMOWAY / Undisclosed | Series A / A+ | Intelligent mobility and robot architecture. |
Acquisitions & Strategic Moves
The week also brought several notable strategic transactions across robotics, autonomy and the supporting industrial stack.
The largest was Kraken Robotics' completion of its C$615 million acquisition of Covelya Group. The transaction brings Sonardyne, EIVA, Forcys, Voyis and Chelsea Technologies into the group, significantly expanding Kraken across sonar, underwater navigation, imaging, batteries and offshore intelligence systems. It is one of the largest consolidation moves seen in subsea autonomy this year.
Europe's unmanned ground vehicle market also continued consolidating. Rheinmetall completed its acquisition of a 51% stake in Croatian UGV specialist DOK-ING, establishing Rheinmetall Unmanned Vehicles as the group's centre for autonomous ground systems and heavy robotic platforms.
Warehouse automation saw two notable moves. Symbotic acquired UK software company ARMS Innovations, extending its platform into warehouse operations optimisation and orchestration, while German-listed DDB AG acquired Singapore-based Infinium Robotics, adding autonomous warehouse inventory drones to its portfolio.
In the humanoid supply chain, SKF and Leaderdrive announced a 60/40 joint venture focused on precision transmission components for humanoid robot joints. The venture is expected to begin operations by the end of 2026 and reflects continued investment in specialised component manufacturing as industrial humanoid programmes scale.
Elsewhere, Circus completed its acquisition of Belgian food robotics company Alberts, while VisionWave signed a definitive agreement to acquire a controlling stake in Meteor Aerospace, subject to closing conditions.
IPO & Public Markets
Public markets remained active throughout the week, particularly across China and Hong Kong.
Unitree Robotics received CSRC registration approval for its planned Shanghai STAR Market IPO, moving the already-filed listing to the final pre-launch stage. The company is seeking to raise around RMB 4.2B for robot AI models, robot-body R&D, new products and smart manufacturing capacity.
Hong Kong also saw a wave of robotics-related listings. Rokae Robotics launched its IPO, while Laifual Drive completed its listing, bringing one of China's largest harmonic reducer manufacturers to public markets. EACON also launched its Hong Kong offering focused on autonomous mining, while True Health Medical listed as one of China's surgical robotics developers.
Outside robotics hardware, autonomous driving company Momenta launched a Hong Kong IPO targeting up to US$751 million, highlighting continued investor appetite for autonomy platforms.
In South Korea, robotic hand developer Tesollo formally entered the public markets process after appointing KB Securities as IPO lead underwriter following completion of its Series B financing.