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Chinese robotics startup has secured 1 billion yuan (approximately $147.4 million) in a Series B and B+ funding round, co-led by a venture firm backed by a major investment group and a leading Chinese on-demand services platform. This funding increases the company’s valuation to nearly 10 billion yuan (around $1.5 billion).
The investment arrives as China’s humanoid robotics industry transitions from prototype development to large-scale commercial application, with the company aiming to expand from industrial collaborative robots into humanoid robots and embodied artificial intelligence.
Other notable investors in the round include major tech firms and venture capital funds. The company plans to utilize the funds for advancing technology research and development, scaling up production, and establishing a global sales network.
The company intends to improve automation efficiency and first-pass yield across its production lines, increase current delivery capacity of over 10,000 units, and develop full humanoid robots based on its biomimetic dual-arm designs.
Founded in 2017, the company initially focused on industrial collaborative robots. Its force-controlled, biomimetic dual-arm Marvin Series has already secured orders exceeding 10,000 units in the first quarter alone, with clients including 45 humanoid robot manufacturers and companies specializing in embodied AI.
With extensive experience in data collection and engineering in industrial robotics and precision manufacturing, the company is well-positioned for rapid growth in the humanoid robotics field.
Additionally, plans are underway to accelerate global expansion by establishing localized sales and technical support teams in key markets such as North America, aiming to integrate into the supply chains of leading international embodied AI firms.
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