Deep Robotics

Hangzhou-based Deep Robotics has had its application for an initial public offering on the Shanghai STAR Market accepted, revealing a massive revenue surge and a pivot toward embodied AI and humanoids.

State Grid Corp. of China has unveiled a landmark 6.8 billion yuan ($994.7 million) procurement plan for 8,500 embodied AI units, signaling the first 10-billion-yuan vertical market for humanoid and quadruped robotics.

OpenMind has debuted a shared marketplace for robotic applications, partnering with heavyweights like UBTECH and AgiBot to break down the software silos currently fragmenting the robotics industry.

Backed by state-owned giants China Telecom and China Unicom, the Series C round positions Deep Robotics to scale its new wheeled-legged and humanoid platforms ahead of a potential IPO.

A new survey reveals 62% of Chinese executives plan to adopt humanoid robots within three years, yet only 23% are satisfied with current technology.