- AI² Robotics has become the latest Chinese robotics startup looking to go public.
- The unicorn is considering a Hong Kong listing after a fresh raise in June.
- AGIBOT and Unitree are among some 50 Chinese companies also pursuing an IPO.
A relatively new Chinese robotics startup, AI² Robotics, is considering going public in Hong Kong, after a recent funding round that doubled its valuation to nearly $3 billion in June.
Some people with knowledge of the matter revealed Tuesday that AI² Robotics is currently in talks with an adviser for an initial public offering, expected to take place next year.
The Shenzhen-based unicorn is only three years old, founded in early 2023. The CEO, Yandong Guo, had disclosed last September that the company aimed to go public within one or two years.
AI² Robotics pursues IPO after a $736 million raise
AI² Robotics has not formally confirmed a filing for a Hong Kong listing. However, it’s worth noting that it conducted a joint-stock restructuring in April, which is usually seen as a structural precursor to public listings.
Two months after the reform, the company raised nearly 5 billion yuan ($736 million), pushing its valuation past 20 billion yuan (over $2.9 billion).
It builds wheeled humanoid robots, which it calls AlphaBot, paired with an in-house vision-language-action system named Alpha Brain, which Guo says is their “key advantage.”
According to Guo, AI² Robotics has been a unicorn even in the last year. In September, he told Reuters that the company was “looking at 10 times growth (in revenue) pretty much every year.”
More Chinese robot makers head to Hong Kong for IPO
AI² Robotics is now on the growing list of Chinese robotics startups pursuing a listing in Hong Kong, as capital needs for scaling manufacturing continue to rise.
In fact, Caixin Global reported Tuesday that up to 50 Chinese robotics startups are currently looking to list in Hong Kong or the Chinese mainland.
Among these companies are leaders such as Unitree Robotics and AGIBOT.
Earlier in July, Cryptopolitan reported that Unitree Robotics had been cleared for its planned IPO this August. The company is expected to be valued at more than 50 billion yuan ($7.4 billion) following the debut.
AGIBOT, the largest Chinese robot vendor, plans to list in Hong Kong later this year. The company targets a valuation of HK$40 billion to HK$50 billion ($5.14 billion to $6.4 billion), according to people familiar with the matter.
The smartest crypto minds already read our newsletter. Want in? Join them.
FAQs
How much did AI² Robotics raise and what is it now worth?
The company raised close to 5 billion yuan (about HK$5.81 billion, or roughly $736 million) in its latest round, lifting its valuation above 20 billion yuan, which is pegged at $2.8 billion to $3 billion.
What does AI² Robotics make?
Founded by Yandong Guo in April 2023 and based in Shenzhen, the company builds wheeled humanoid robots called AlphaBot for industrial use, powered by its own vision-language-action model, Alpha Brain.
Which other Chinese robotics firms are heading toward IPOs?
Unitree Robotics has regulatory approval for a Shanghai STAR Market listing aiming to raise 4.2 billion yuan, while AgiBot and EngineAI are working toward Hong Kong listings, part of a wave of about 50 startups Caixin reported were pursuing listings by July.
Ibiam Wayas
Ibiam Wayas has covered the crypto news beat since 2019. He studied Computer Science at National Open University of Nigeria. His work has appeared on various crypto news platforms, including Coinfomania, Crypto News Australia, and AltcoinBuzz. Drawing on his background in Computer Science, he now focuses on crypto, robotics, and longevity news.
