PsiBot: China’s AI startup valuation hits $1 billion

PsiBot is raising close to US$100 million (S$129 million) of funding at a US$1.48 billion valuation, joining a growing roster of Chinese AI startups capitalising on interest in the burgeoning field. The company, known also as Lingchu Intelligence, is close to finalising financing led by Chinese carmaker Chery Automobile Co and investors such as Lens Technology Co, a sensor maker for the likes of Apple and Tesla. The Chinese startup has now raised about US$300 million since its inception in 2024. PsiBot becomes one of the few unicorns operating in the field of embodied AI and world models, which help…