Deep Robotics Joins IPO Rush, Capping Quadruped Success with Humanoid Ambition

The race to the public markets among China's top robotics firms has a new contender. Deep Robotics, a company that built its reputation on rugged quadruped "robot dogs," is showing clear signs of preparing for an initial public offering.

This move signals an expansion of the trend we've been tracking, which has already seen rivals Unitree, Aelos, and AgiBot (Zhiyuan) vying for public listings.

A Clear Signal for an IPO

In early November, Deep Robotics officially completed its "shareholding system reform," changing its legal name to "Hangzhou Deep Robotics Technology Co., Ltd. (a joint-stock company)."

Industry observers note this transformation from a limited liability company is a necessary legal step and a classic preparatory move for a company to go public. While a company representative described the change as being for "development needs," the move is widely interpreted as a clear signal of IPO intentions.

The preparations follow a significant capital injection in July, when Deep Robotics secured nearly 500 million yuan in a financing round co-led by Fortune Capital and Guoxin Fund.

From Four Legs to Two

Founded in 2017 by Dr. Zhu Qiuguo, Deep Robotics is a well-established player in the industrial robotics space . Unlike AI-first startups like AgiBot, Deep Robotics built its business on a hardware-first approach, developing a line of sophisticated "Jueying" quadruped robots.

This focus on industrial utility has reportedly earned it significant commercial traction, with revenue said to be in the "several hundred million yuan" range. The company's "Jueying X30" quadruped famously won a Singapore Power Group contract over global competitors, validating its application for real-world inspection tasks.

Only recently has the company made a significant and public push into bipedal machines. In October 2025, Deep Robotics unveiled the DR02, an all-weather industrial humanoid designed for hazardous environments, signaling a clear ambition to compete in the humanoid sector alongside its established quadruped business .

A Familiar Path to Market

Deep Robotics' move adds another name to the "IPO Rush" strategy that defines China's approach to the global robotics capital race .

Like Unitree, Deep Robotics is leveraging a successful and revenue-generating quadruped business to fund its expansion into the more capital-intensive humanoid market. While Unitree's revenue is reported to exceed 1 billion yuan, Deep Robotics is seen as a strong second, with reports suggesting the company aims to ship 10,000 total robot units in 2025.

With this move, Deep Robotics is positioning itself to tap public markets for the capital needed to scale production for both its proven "robot dogs" and its new humanoid contenders.

This push into the humanoid sector is happening in real-time. Deep Robotics is currently in Berlin to attend the European Humanoid Robots Summit, which kicks off today, November 17. The company stated it is looking to meet with "industry leaders, innovators, and partners" at the event.