AgiBot

Unitree Robotics, the Hangzhou maker of quadruped and humanoid robots that listed on Shanghai's STAR Market in August 2026, now earns more from humanoids than from robot dogs. Its filings show 73.6% of humanoid revenue in the first nine months of 2025 came from research and education buyers, the central question for a company worth about RMB61 billion at its issue price.

Skild AI's $1.4 billion Series C, led by SoftBank, and Figure AI's $1 billion Series C, led by Parkway Venture Capital, are the two largest humanoid and embodied-AI rounds in MEKAWIRE's verified records since January 2025, and together make up 41% of the $5.86 billion disclosed across 22 rounds. Humanoid makers took 70% of disclosed money in 2025, but developers of robot foundation models have taken 71% in 2026 so far, and NVIDIA joined seven rounds without leading one.

A vision-language-action (VLA) model is one neural network that reads camera images and a plain-language instruction and outputs a robot's next motor commands, built by training a vision-language model on robot demonstrations. Google DeepMind, Physical Intelligence, NVIDIA, Figure AI, Skild AI and AgiBot lead, and the commercial race now turns on the cost of action data rather than model design.

Shipments of professional service robots rose 24% to almost 250,000 units in 2025, led by 117,500 transport and logistics robots, the International Federation of Robotics said on 30 September 2026. The IFR counted about 7,000 full-size humanoids sold worldwide and 174 humanoid makers, more than half of them in China, and said most humanoid uses still rely on teleoperation.

AGIBOT and Chimelong Group opened Chimelong Spaceship Park in Hengqin, Zhuhai, on 24 September 2026 with more than 300 AGIBOT humanoids and quadrupeds working daily at over 100 interaction points. AGIBOT handed over its 20,000th production robot, an Expedition A3 Ultra, 88 days after its 15,000th, and the partners launched a joint research institute and a 5G-A network with China Mobile.

D-Robotics, the robot-chip business Horizon Robotics stopped consolidating in March, said on 17 September 2026 it had closed a US$400 million Series C without naming a single investor or a valuation. The company says it has shipped more than 8 million Sunrise chips and that its newest S600 part won more than 20 robot customers within six months, including UBTECH, Fourier and Booster Robotics.

Tesla said in its second-quarter 2026 update, released on July 22, that it has decommissioned the Model S and Model X lines in Fremont and is installing first-generation Optimus production lines, with production expected soon and the first robots reserved for an internal Optimus Academy that collects training data. Capital expenditure rose to $5.79 billion from $2.49 billion in the first quarter and free cash flow turned negative at minus $1.09 billion, while the update gave no robot unit count, no capacity figure and no date for Optimus Gen 3.

Shanghai-based AgiBot told its 2026 partner conference on April 17 that revenue grew from RMB300,000 in 2023 to more than RMB1 billion in 2025, and that its ten-thousandth robot had rolled off the line this year. The company launched four hardware lines including the full-size Expedition A3, six models and a five-year ecosystem programme worth more than RMB2 billion.

UBTech Robotics said in its 2025 annual results that revenue from full-size humanoid robots rose 2,203.7% to RMB820.6 million on 1,079 units, lifting group revenue 53.3% to RMB2.0 billion. The net loss narrowed to RMB789.8 million, while three share placings raised RMB5.78 billion to fund capacity for more than 6,000 robots a year.

Shanghai-based AgiBot said on 30 March 2026 that its 10,000th humanoid robot had come off the production line, 112 days after it announced its 5,000th. The company said the step from 5,000 to 10,000 units ran four times faster than earlier phases, but its own December breakdown shows that only about a third of its fleet is full-size.

Hong Kong-listed RoboSense earned RMB103.7 million in the fourth quarter of 2025, its first profitable quarter, as robotics revenue more than tripled over the year to RMB709.8 million. Robot lidar shipments rose to about 303,000 units from 24,400, outpacing rival Hesai's 239,273, while revenue from car sensors fell 17.2%.

The Shanghai Stock Exchange accepted Unitree Robotics' application to list on the STAR Market on March 20, 2026, with the Hangzhou company seeking RMB4.202 billion. Its prospectus shows reviewed 2025 revenue of RMB1,708.21 million, up 335.36%, and more than 5,500 humanoids shipped in 2025, with humanoids overtaking quadrupeds as its largest product line.

NVIDIA used its GTC keynote on March 16, 2026 to preview Isaac GR00T N2, a robot foundation model built on its DreamZero world action model research that it says succeeds at new tasks in new environments more than twice as often as leading VLA models. It also put the 3-billion-parameter GR00T N1.7 into commercial early access and announced Cosmos 3 and Isaac Lab 3.0, with N2 due by the end of 2026.

Beijing humanoid robot maker Galbot announced on 2 March 2026 that it had closed a RMB 2.5 billion round, which Haidian district officials called the largest single financing in China's embodied AI sector. The state Big Fund invested in embodied AI for the first time through the National Artificial Intelligence Industry Investment Fund, alongside Sinopec, CITIC and SAIC's finance arm, and the Zhongguancun Science City administration put Galbot's valuation at RMB 20 billion.

A standards committee set up under China's Ministry of Industry and Information Technology released the Humanoid Robot and Embodied Intelligence Standard System (2026 Edition) in Beijing on 28 February 2026. The six-part framework runs from AI "brains" and computing to joints, complete robots, applications and safety, and came with a first list of priority standard projects drafted with more than 70 leading companies.

Hyundai Motor Group agreed on February 27, 2026 to invest about 9 trillion won from 2026 in a robotics, AI and hydrogen hub at Saemangeum in North Jeolla. The plan includes a 400 billion won robot cluster with a finished-robot factory sized for about 30,000 units a year, a contract-manufacturing foundry and a parts complex, due in 2029, next to a 5.8 trillion won AI data centre scaled in phases to 50,000 GPUs.

Shenzhen-based LimX Dynamics said on 2 February 2026 it had closed a US$200 million Series B with investors including Stone Venture, JD, Oriental Fortune Capital, CoStone Capital and SAIC-backed Shangqi Capital. The round came three weeks after the launch of LimX COSA, the agentic operating system that runs its full-size humanoid Oli, and the company added a second US$200 million pre-IPO round 162 days later.

Figure AI on Jan. 27, 2026 released Helix 02, a robot foundation model that runs a humanoid from camera pixels and fingertip touch down to joint commands at 1 kHz, replacing 109,504 lines of hand-written C++ with a 10-million-parameter learned controller. The company showed a Figure 03 unloading and reloading a dishwasher across a full kitchen in a four-minute, 61-action run it says had no resets and no teleoperation.

Mobileye agreed on 5 January 2026 to buy Israeli humanoid developer Mentee Robotics for $900 million in cash and stock and closed the deal on 3 February. Its filings show chief executive Amnon Shashua, Mentee's chairman and co-founder, receives about $341 million and chief technology officer Shai Shalev-Shwartz about $118 million, with 90% of the founders' stock released only after two and four years. Mentee targets autonomous customer pilots in 2026 and series production in 2028.

NVIDIA used CES 2026 to launch the Jetson T4000, a Blackwell robot computer priced at $1,999 at 1,000-unit volume, and to release the GR00T N1.6 humanoid model and the Cosmos Reason 2 reasoning model as open models. Qualcomm answered a day earlier with its Dragonwing IQ10 robot processor and named Figure as a partner, setting up a fight for the compute socket inside humanoids.

UBTech Robotics agreed on 25 November 2025 to place 31.468 million new H shares at HK$98.80, raising about HK$3.11 billion, and earmarked 75% of the net proceeds for investing in or acquiring upstream and downstream companies. Eight days earlier the Shenzhen company said its Walker S2 industrial humanoid had entered mass production and delivery, with orders since the start of 2025 above RMB800 million.

Robot foundation model developer Physical Intelligence has raised $600 million at a $5.6 billion valuation in a Series B led by Alphabet's growth fund CapitalG, according to its investors. The round followed the release of π*0.6, a model the company says more than doubles throughput on hard tasks after reinforcement learning on real robots.

Tesla shareholders approved the 2025 CEO Performance Award at the November 6, 2025 annual meeting, with 1,892,235,822 shares voting for and 564,940,908 against, according to Tesla's 8-K. The award of up to 423,743,904 restricted shares is split into 12 tranches, each earned only when a market capitalization step from $2 trillion to $8.5 trillion is paired with one of 12 operating milestones, among them the cumulative delivery of 1 million Bots, a category the award agreement defines to include Optimus.

AgiBot's acquisition vehicle Shanghai Zhiyuan Hengyue and a concert party now hold 63.6232% of Swancor Advanced Materials after holders tendered 135,663,336 shares at RMB7.78 in a partial offer that closed on 28 October 2025, Swancor disclosed on 30 October. With share transfers registered in September, the stake cost about RMB2.0 billion, and the filings say the buyer has no explicit plan to change Swancor's business within 12 months.

Unitree Robotics unveiled the H2 humanoid on 20 October 2025, a 1,820 mm, roughly 70 kg machine with 31 degrees of freedom and leg joints rated at up to 360 Nm. Its product pages now list the base model at US$29,900 before tax and shipping, or RMB 199,000 including tax, the only published price among the full-size humanoids compared here.

Shanghai-based Fourier on 6 August 2025 introduced GR-3, a 165 cm, 71 kg humanoid with up to 55 degrees of freedom, 31 tactile sensors and a padded exterior, which it calls its first full-size 'Care-bot'. The third model in its GRx line is aimed at public service settings, children and older adults, with rehabilitation and health monitoring named as later uses. Fourier did not disclose a price.

Unitree Robotics on 25 July 2025 launched the R1 humanoid, about 25 kg with 26 joints, from RMB 39,900 in China and US$5,900 abroad. The price is 40.3% of what the company charged for its G1 at launch and sets a public benchmark for low-cost humanoids.

Beijing embodied AI start-up Galbot completed a RMB 1.1 billion financing in June 2025 led by battery maker CATL and Puquan Capital, with China Development Bank's CDB Science and Technology Innovation, the Beijing Robotics Industry Fund and GGV Capital also investing, according to the Zhongguancun Science City administration. The deal took the company's funding over two years past RMB 2.4 billion and gave its synthetic data approach to robot learning a strategic industrial backer.

NVIDIA on 18 March 2025 released Isaac GR00T N1, a dual-system vision-language-action model for humanoid robots, as downloadable weights on Hugging Face and GitHub, with 1X, Agility Robotics, Boston Dynamics, Mentee Robotics and NEURA Robotics named as early-access partners. It also announced Newton, an open-source physics engine under development with Google DeepMind and Disney Research, a synthetic manipulation-data blueprint and a 15-terabyte open physical AI dataset.

Premier Li Qiang's 2025 Government Work Report, delivered to the National People's Congress on March 5, lists embodied AI alongside biomanufacturing, quantum technology and 6G as future industries Beijing will cultivate, and pledges a funding growth mechanism for them. The same report calls for intelligent robots as a new generation of smart terminals, a year after the 2024 report made no mention of embodied AI.