New Stock News | Xinghai map plans to list in Hong Kong, aiming to raise $500 million.

According to reports, mainland humanoid robot company Galaxea AI plans to list in Hong Kong this year, with a target fundraising of $500 million (approximately HK$3.9 billion). Galaxea AI stated in early April that after completing nearly 1 billion RMB in Series B financing last year, it has now received about 2 billion RMB in Series B+ financing, with a company valuation exceeding 20 billion RMB. Galaxea AI's shareholder lineup is strong, including Ant Group, Hillhouse Capital, IDG Capital, Baidu, Tong Song Ventures, Meituan, Meituan Longzhu, Joy Capital, miHoYo, and Wuxi Capital, among many other institutions. It is reported that Galaxea AI was founded in September 2023, focusing on the development of humanoid robots, robotic arms, and other products. The latest model humanoid robot R1Pro has 26 degrees of freedom, with dual seven-axis humanoid robotic arms, capable of carrying up to 10 kilograms on both arms, with a maximum arm length of 64 centimeters. Galaxea AI completed its equity restructuring in January of this year. Three of the four co-founders of Galaxea AI are from Tsinghua University. The current CEO, Gao Jiyang, graduated from the Department of Electronics at Tsinghua University, while co-founders Zhao Xing and Xu Huazhe are assistant professors and doctoral supervisors at the Institute of Interdisciplinary Information Research at Tsinghua University. It is reported that R1Pro can flexibly perform complex actions from ground level to 2 meters high, and is equipped with Nvidia's Jetson AGX Orin 32GB, with a computing power of 200 TOPS. In January of this year, Galaxea AI also released the VLA model GO Plus.