The Belt 
Moonshot AI has reportedly filed an A1 document confidentially with the Hong Kong exchange and begun its IPO process, raising a Pre-IPO round at a US$50 billion pre-money valuation. The company declined to comment. An AI-generated illustration of Moonshot AI’s Kimi assistant and large-model business. (Source: Sohu IT) It is not alone. StepFun is said … Read more
Youdi Robotics (Wuxi) debuted on the HKEX main board on 9 September under ticker 03231.HK. It opened up 142.21 per cent, closed its first day at HK$36.68, a 153.84 per cent gain on the HK$14.45 issue price, and pushed its market cap past HK$16 billion. By 10 September it closed at HK$46.06, up another 25.27 … Read more
The embodied-AI industry is not short of robots that nail one beautiful demo. What it lacks is robots that repeat the same task ten thousand times and stay reliable. Paxini says it has now closed a RMB 1 billion strategic round, lifting cumulative funding to nearly RMB 4 billion. Paxini’s tactile dexterous hand demonstrating fine … Read more
Xieyue Intelligence has closed a several-hundred-million-yuan angel-plus round, with Linear Capital, Junshan Capital, Hongyi Capital and Hidden Hill among the investors. It is the second raise in seven months, after an angel round led by Li Auto and Yuanjing Capital. The money will push forward embodied foundation-model training, computing and data infrastructure, core-team expansion, and … Read more
On 1 September, XTRON Robotics, a specialist in embodied intelligence for hazardous and chemical-process industries, announced a several-tens-of-million-yuan A1 round. The investors include Qianhai Ark, West Lake Sci-tech Venture and components maker Guangyang Co. The proceeds will go into the XBOT-AEGIS embodied-intelligence system, the development of multi-form explosion-proof robots, and expansion at home and abroad. … Read more
On 22 August at the National Speed Skating Oval in Beijing, the opening of the second World Humanoid Robot Games put a camera on a real tennis court. A humanoid stood inside it, and against incoming balls travelling above 50 km/h it judged the bounce, moved its feet, turned its body and swung, the ball … Read more
Moxin Tech, a four-dimensional world-model start-up founded by a Zhejiang University doctoral student born in 2000, is about to close a new financing round of around 1 billion yuan that would lift its valuation to nearly 10 billion yuan. It would be the firm’s fifth raise this year and its second in a month, after … Read more
Gongzhi Ocean, a deep-sea embodied-intelligence robotics company spun out of Harbin Engineering University, has closed three funding rounds in a single year and secured nearly 100 million yuan in intended orders, despite a team of fewer than 20 people. Founder Guo Chunyu, a professor and director of the ministry-led underwater-propulsion laboratory, says the group has … Read more
INMO, the global smart-glasses brand, has closed its C3 round, led by the Sichuan Zhenxing Sci-Tech Innovation Fund with Jing’an Capital, Shibei Hi-Tech, Guangzhou Industrial Investment and several Sichuan government funds following. Combined with its earlier C1 and C2 rounds, the C series totals nearly 1 billion yuan, and the company says it has formally … Read more
Wuwen Zhike, a physical-AI data-infrastructure start-up, has closed a Series A round of several hundred million yuan, led by Hongtai Fund with Hongshan Capital, Zhongdian Shurong and Lion City Capital joining and several early backers topping up. The company says it will pour the proceeds into research and scale-up of its world-model-driven Physical AI stack. … Read more