TMTPOST — Physical AI startup Xirang Kaiwu has completed consecutive seed and angel financing rounds totaling several hundred million yuan, according to reports. The rounds were led by Dunhong Asset, with participation from Huakong Fund, Sanhua Holding, Yinxinggu Capital, Zeran Capital and other investors. The company said its valuation has reached $500 million. Founded in July by former Huawei Cloud large-model CTO Li Yin, with Zhang Hanwang as co-founder and chief scientist, Xirang Kaiwu is developing a native physical foundation model known as LPM for robotics and other physical intelligence applications. Proceeds will support model pre-training, real-world interaction data and talent recruitment.