Authored by Zhineng Technology

From an industrial landscape perspective, the current wave of humanoid robot startups in Shanghai can be likened to the previous generation of new automotive forces, both representing transformative shifts in their respective sectors.

Of course, funding is the linchpin. Startups that can secure more resources and capital will gain an early competitive edge in development. Let's delve into the financing progress of different companies. This time, we're focusing on the money, as without it, progress in this field seems unattainable!

● Zhiyuan Robotics

When it comes to the most well-known humanoid robot company in Shanghai, Zhiyuan Robotics undoubtedly takes the lead. Founded in February 2023 as Shanghai Zhiyuan Xinchuang Technology Co., Ltd., it was co-established by Peng Zhihui (also known as Zhihui Jun).

The company has exhibited an exceptionally rapid financing pace, completing multiple rounds of financing in just over two years. It often adopts a 'small + round' financing model to gradually increase its valuation, attracting support from numerous leading financial and industrial investors. The cumulative funding amount is conservatively estimated to exceed several billion yuan.

Note: The valuation at the planned financing stage is speculative.

● Fourier Intelligence

Shanghai Fourier Intelligence Technology Co., Ltd., founded in July 2015, is led by founder and CEO Gu Jie. Initially focusing on rehabilitation robots, the company later expanded its portfolio to include general-purpose humanoid robots, such as the GR-1 and GR-2 series.

The company has undergone numerous financing rounds, with public information indicating over 12 rounds. Early investments were primarily attracted by its rehabilitation robots. After 2023, the acceleration of its humanoid robot business spurred large-scale financing.

The cumulative funding amount exceeds several billion yuan, making it a unicorn in both the rehabilitation and humanoid robot sectors. It was valued at approximately 8 billion yuan in 2025.

● Taihu Robotics

Taihu Robotics Technology (Shanghai) Co., Ltd., founded in August 2020, is led by founder and CTO Yi Gang (born in the 95s). The company specializes in high-performance integrated joint modules, dexterous hands, and humanoid robot hardware solutions, such as the T170 series.

Early financing was steady, but it accelerated in 2024, benefiting from the humanoid robot boom, with multiple sub-rounds of Pre-A financing. The cumulative funding amount exceeds 150 million yuan, with some early rounds not disclosing amounts.

● WhalesBot

Shanghai WhalesBot Robotics Technology Co., Ltd., founded in March 2018, is led by founder Fei Xufeng. The company specializes in STEM/AI educational robots for youth, including building block, flying, and humanoid series (though not mainstream general-purpose humanoid robots). Its products are exported to over 80 countries globally, with annual sales exceeding 1 million units.

The company has undergone numerous financing rounds, publicly disclosing 7-8 rounds. Early investments were primarily from VC firms, with later rounds introducing state-owned capital. The cumulative funding amount exceeds 500 million yuan (nearly 400 million yuan by the 7th round +), making it a unicorn in the educational robot sector. It was valued at approximately 3.6 billion yuan in 2024-2025.

● Kepler Robotics (KEPLER ROBOTICS)

Kepler Robotics, or Shanghai Kepler Robotics Co., Ltd., was founded in August 2023. Its founder is Yang Hua (founder of Chunmi Technology), and its co-founder and CEO is Hu Debo (former Huawei, ZTE, etc.). The company specializes in general-purpose humanoid robots, such as the 'Pioneer' K1/K2 series 'blue-collar' robots, emphasizing hardware first, high cost-effectiveness, and industrial scenario implementation.

Financing has primarily been through industrial strategic investments, with a dense pace (multiple rounds in 2024-2025). The cumulative funding amount has not been fully disclosed, but it has attracted several A-share listed companies and state-owned capital funds, benefiting from policy support and supply chain collaboration in Shanghai's Pudong and Zhangjiang regions.

● Sagebot (SAGEBOT)

Sagebot, founded in November 2017, is led by founder and CEO Zhang Jianzheng (Ph.D. in Robotics from Shanghai Jiao Tong University, former Fanuc, etc.). The company specializes in intelligent mobile composite robots, multi-arm collaborative robots, and embodied intelligence solutions, such as the SAGE-OS operating system and SAGE-Brain controller, targeting discrete manufacturing scenarios like automotive parts, 3C electronics, and biopharmaceuticals. It has achieved batch implementation and profitability, being selected for the Shanghai Municipal Intelligent Robot Benchmark Enterprise Directory.

Financing rounds have progressed steadily, with public information disclosing about 6-8 rounds. The cumulative funding amount has reached several hundred million yuan (several hundred million yuan in the latest two rounds in 2025).

● Robbyant (Ant Robowave Technology)

Robbyant is not short on funds. Founded in December 2024 with a registered capital of 100 million yuan, it is wholly owned by Ant Group, with CEO Zhu Xing at the helm.

The company is Ant Group's primary vehicle for expanding into embodied intelligence and humanoid robot businesses, focusing on service sectors such as home, elderly care, healthcare, and catering. Its first product, the R1 (wheeled dual-arm humanoid robot), debuted at the 2025 IFA exhibition and has entered batch production and scenario testing.

● DroidUp Robotics

DroidUp Robotics was founded in May 2021 (with its predecessor tracing back to Shenzhen Xingzhe Robotics Technology Co., Ltd. in 2016). Its founder and CEO is Li Qingdu (Executive Dean and Professor of the Institute of Robotics Intelligence at Shanghai University of Engineering Science). The team has accumulated over 20 years of experience in the bipedal robot field.

The company specializes in tendon-driven lightweight humanoid robots, such as the Xingzhe series, Xiaobei series, and Ruina expression robot, emphasizing high safety, low weight, and long battery life. It targets scenarios like scientific research and education, commercial services, home healthcare, and cultural tourism performances. In October 2024 alone, it disclosed an A-round financing of 100 million yuan.

● Matrix Super Intelligence

Shanghai Matrix Super Intelligence System Integration Co., Ltd., founded in April 2024, is led by founder and CEO Zhang Haixing. The core team hails from global top AI and robotics technology giants like Tesla, NVIDIA, and OpenAI, specializing in full-stack R&D and commercialization of full-sized general-purpose humanoid robots, such as the MATRIX-1 prototype.

The company maintains a distinctly low-key style, emphasizing technological iteration and order delivery over financing promotion. No specific financing rounds, amounts, investors, or valuation information have been publicly disclosed.

● Humanoid Robotics (Shanghai) Co., Ltd.

Founded in December 2023 with a registered capital of 1 billion yuan, it is a new type of R&D institution jointly funded by state-owned backbone enterprises and industry-leading companies.

Located in Xuhui District, Shanghai, it serves as the supporting entity of the National and Local Co-built Humanoid Robotics Innovation Center (awarded by the Ministry of Industry and Information Technology in May 2024). It focuses on public service functions like R&D of common key technologies for humanoid robots, open-source platforms (such as the world's first full-sized open-source public prototype 'Qinglong'), dataset release, and industrial ecosystem construction.

Of course, Shanghai's humanoid robot industry is a sector that enjoys strong support. The transition from traditional automation to highly flexible and intelligent humanoid robots also necessitates startups to lead the way. Leveraging its deep automotive manufacturing supply chain, semiconductor industry foundation, and high-density AI talent pool, Shanghai has built an embodied intelligence industrial cluster centered around Pudong Zhangjiang and radiating across the city.

Shanghai's humanoid robot companies exhibit a significant clustering effect in terms of spatial distribution.

◎ Pudong Zhangjiang: Centered around the 'Zhangjiang Robot Valley', it has attracted companies like Zhiyuan, Fourier, and Kepler, benefiting from a complete 'future industry' ecosystem.

◎ Xuhui Binjiang: Centered around the 'Model Speed Space', it attracts companies with a large model background like Moushen Intelligence, providing the best algorithm iteration environment for embodied intelligence through open high-value application scenarios in commerce, healthcare, and elderly care.

Summary

Next, we'll observe the development of this wave of robot new forces from various perspectives, including product launches, exhibitions, and more.