Gasgoo Munich- On March 5, news emerged that the CICC Porsche Fund recently participated in consecutive Angel and Angel+ financing rounds for Wujie Power, a general-purpose embodied AI robotics company, making it one of the few investors to double down across two early-stage rounds.
Wujie Power focuses on developing a "general brain" and "manipulation intelligence" for robots. Within just six months, it has attracted several prominent investors, including Sequoia China, Linear Capital, and Hillhouse Ventures.
Image source: Wujie Power
For instance, on February 14, Wujie Power announced the completion of an Angel+ round exceeding 200 million yuan. Existing backers—including Sequoia China, Linear Capital, Hillhouse Ventures, Huaye Tiancheng, a fund under CICC Capital, and BV Baidu Ventures—re-upped for this round. They were joined by new investors such as Shenzhen Capital Group (SCGC), Sinovation Ventures, Puhua Capital, Junshan Capital, and Yarui Capital. With this new financing closed, Wujie Power revealed that a third round is nearing completion, bringing total fundraising to 800 million yuan.
Public records show the CICC Porsche Fund was established inFebruary 2024, jointly launched by Porsche Ventures and CICC Private Equity—a wholly-owned private equity fund manager under CICC. It marks the pair's first collaborative RMB fund and serves as Porsche's sole channel for early-stage equity investments in Chinese startups for the next several years, focusing on early innovation opportunities in mobility and smart technology.
As the global auto industry undergoes a deep transformation toward flexibility and intelligence, embodied AI is emerging as a critical technological link between future mobility and advanced manufacturing. By strategically investing in Wujie Power, the CICC Porsche Fund is diving deep into this industrial wave. This move not only fuels a leading embodied AI enterprise—accelerating its scaling across global core scenarios—but also underscores Porsche's keen insight into frontier tech trends and its strategic resolve.
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