(Yicai Global) July 13 -- Xpeng Robotics, an affiliate of Chinese electric carmaker Xpeng Motors, has raised more than USD100 million, the most in two years for a Chinese company in the field.

IDG Capital was one of the leading investors in the Series A fundraiser, with Xpeng and other existing shareholders chipping in, the Guangzhou-based automaker said on its website yesterday.

Xpeng Robotics will spend more on researching and developing hardware and machine intelligence, Chief Executive Xu Zhigen said. It will speed up product development and updates, while its smart bionic robots are expected to enter homes in the next two years, he added.

The first product from the Shenzhen-based company, which was founded in 2016, is a four-legged robot unicorn for children.

Xpeng Robotics will continue to strengthen synergies with Xpeng to accelerate the integration of industrial chains, Xu added. For its part, Xpeng Chairman He Xiaopeng said the carmaker will continue to support its affiliate and work with it closely.

Xpeng Robotics has R&D centers in Guangzhou, Beijing, and Silicon Valley in the United States. The company has a wide range of products in the pipeline, including those in the areas of autopilot and human-computer interaction. 

Editor: Emmi Laine, Xiao Yi