Dexmal, a Chinese robotics startup backed by Alibaba, is seeking a valuation of $3 billion in an ongoing funding round, according to a report on the matter.
The round represents a significant capital raise for the company. Dexmal completed a Series A+ round in November 2025 that accumulated roughly 1.2 billion yuan in total funding to that point. This new 2026 capital raise is distinct from that earlier tranche and demonstrates sustained investor appetite for Chinese robotics firms developing physical artificial intelligence systems.
The startup is one of several Chinese robotics companies competing to commercialize physical AI applications. China has positioned itself as a major player in the robotics sector, with government policy and private capital backing development in autonomous systems and embodied AI. Dexmal's Alibaba backing connects it to one of China's largest technology conglomerates, which has invested heavily in robotics and logistics automation through its various subsidiaries and ventures.
The $3 billion valuation places Dexmal among higher-valued private robotics firms globally. For context, U.S. robotics companies at comparable development stages have commanded similar or higher valuations; Figure AI, a U.S. embodied AI startup, raised funding at a $2.6 billion valuation in 2024, though Figure's funding has since expanded. Boston Dynamics, the robotics division of Hyundai, was valued at over $1 billion when acquired in 2020.
China's robotics sector has attracted substantial venture capital in recent years as companies race to deploy systems in manufacturing, logistics and service industries. Competition between China and Western nations over AI leadership continues to shape investment patterns, particularly in physical systems where real-world deployment remains a technical and commercial challenge.
Dexmal's ability to secure this valuation and close the round will test investor conviction in the company's technical progress and path to commercial revenue. The funding round's completion would confirm that institutional capital remains available for Chinese robotics firms despite broader geopolitical tensions affecting venture investment in the sector.
