19 new robot startups reach unicorn status in 2026, backed by state funds, tech giants, and global investors

In the first half of 2026, China's robotics industry experienced a surge in the emergence of unicorns.

According to the latest unicorn data from IT Juzi, 19 new robotics/embodied AI companies achieved unicorn status (valued over $1 billion) in the first half of this year alone, spanning the entire industry chain—including humanoid robots, dexterous hands, vision systems, power systems, computing platforms, and leasing platforms.

They include Zhi Square, Independent Variable, Qianxun Intelligence, Lingxin Qiaoshou, Jijia Vision, and Sudu Technology.

Among these 19 companies, some are already producing thousands of units per month and have moved into automotive manufacturing facilities, while others have just completed their business registration and have not yet onboarded their teams.

But the common point is—they have all completed at least one round of financing exceeding 100 million yuan, and their valuations all surpassed $1 billion during this period in the first half of the year.

The birth of a unicorn has never been the work of a single entrepreneur.

Behind the $1 billion valuation threshold stands a capital network comprising local governments, state-backed funds, major internet companies, industry players, top-tier VCs, securities firms, insurance capital, and even overseas sovereign wealth funds.

IT Juzi breaks down the investor groups behind these 19 new robotic unicorns to see who is footing the bill for this robotics boom.

Investor Overview

At least 16 of the 19 companies received investment from local government or state-owned capital funds.

One of the most notable features of the 2026 robotics funding surge is that local governments are no longer just offering policies—they are directly investing real money.

Currently, only Kunlun Xing, Tianji Intelligence, and Zhijian Power have not yet involved local state-owned capital.

Government investment funds can be sourced from three levels:

1. National-level fund

Six new unicorns have received funding from national-level funds: Zhi Square (National SME Industry Fund, China Cultural Industry System Fund, Guotou Chuangying); Zibianliang (National Artificial Intelligence Industry Investment Fund, Guokai Science and Technology); Qianxun Intelligence (China Internet Investment Fund); Lingchu Intelligence (Guokai Science and Technology, Guozhong Capital, CCTV New Media Industry Investment Fund); Jijia Vision (New Industrialization Fund); Tashizhihang (Guoqi Investment).

The entry criteria for national-level funds are the highest, meaning the target must possess "strategic significance" rather than merely "commercial potential."

2. Provincial/Regional Industrial Funds

This is the most active state-owned category in the robotics sector:

• Guangdong/Shenzhen: Guangdong Artificial Intelligence Fund, Shenzhen Capital Group, Nanshan Strategic New Investment, Greater Bay Area Series Funds → Major stakes in Zhifangping, Zibianliang, and Zhujidongli

• Beijing: Beijing Information Industry Fund, Beijing High-End and Advanced Industry Fund, Jingguosheng Fund, Beijing AI Industry Investment Fund, Zhongguancun Science City, Yizhuang State Investment, Beigong Investment, Jingguorui → Investors in Self-Variable, Accelerated Evolution, Boundless Power, Lingchu Intelligence

• Shanghai: Xu Hui Capital, Shanghai State Investment Pioneer, Zhangjiang Group, Xu Hui Technology Investment → Invested in Lingchu Intelligence, Tashi Aeronautics, Qingtian Lease, Critical Point, Pasini

• Hefei: Hefei Innovation Investment → Zhuji Dynamics

• Zhuhai/Guangzhou: Zhuhai Science and Technology Industry Group, Guangzhou Emerging Fund → Pascin Sensing

• Chongqing: Chongqing state-owned assets → Qianxun Intelligence

• Suzhou: Xiangcheng Financial Holding, Yuanhe Holding → Pacini, Lingchu Intelligence

3. District-level or Park-level Funds

Zhongguancun Science City Fund (Lingxin Qiaoshou, Accelerated Evolution), Ningbo Tongshang Fund (Sweet Potato Robotics), Nanling Fund (Pacini), Liangxi Science and Technology Parent Fund (Stardust Intelligence), and others. These funds are relatively small in size but reflect the intense competition among local governments to retain enterprises—Lingxin Qiaoshou remains in Beijing’s Zhongguancun, and Sweet Potato Robotics stays in Shenzhen, both supported by the stabilizing role of park-based funds.

Key finding: Local government investments exhibit a clear "regional binding" logic—Shenzhen invests in Shenzhen-based companies, Shanghai in Shanghai-based companies, and Beijing in Beijing-based companies. Only a handful of companies, such as Zhi Pingfang and Ziziran, have achieved cross-regional state-owned capital coverage, which in itself signals a valuation ceiling.

Eleven internet and tech giants have invested in at least fifteen of the nineteen unicorns. The involvement of these large corporations brings not only capital, but also scenarios, data, and ecosystems.

The most noteworthy phenomenon:

1. JD.com is a severely undervalued major investor. While the market has primarily focused on Tencent and Meituan, data from IT Juzi shows that JD.com has actually invested in four companies—tying with Meituan for first place. JD.com’s investments span the entire robotics industry chain (integrated systems, AI brains, dexterous hands, production lines), and its logistics operations present the most rigid demand for robotics.

2. Huawei has officially entered the scene through HuaBo Investment—a significant signal previously overlooked by the market. Huawei’s investments in Qianxun Intelligence (humanoid robotics) and Jijia Shijie (vision/world models) indicate that Huawei is now integrating robotics into its strategic framework of “chip + operating system + ecosystem.” Combined with Huawei’s existing investments in AI chips (Ascend) and operating systems (HarmonyOS), its capabilities in robotics extend far beyond mere financial investment.

3. “Tencent and Alibaba investing in the same company” has become the new norm. Both Zhijian Dynamics and Suduo Technology have seen simultaneous investments from Tencent and Alibaba. This would have been nearly impossible in the past—the two giants typically compete in most sectors. However, in the field of embodied intelligence, they have chosen to “bet together,” indicating the high level of uncertainty in this space, where even giants must diversify risk and collaborate.

4. Ziduan is the only company to have secured investment from all four tech giants: Meituan (lead investor in Series A), Alibaba (lead investor in Series A+), ByteDance, and Xiaomi (lead investor in Series B)—making Ziduan the sole embodied AI company in China to receive strategic backing from all four major internet firms. Xiaomi’s venture capital has participated in three consecutive rounds, underscoring its strong commitment. The collective endorsement from these giants carries immense signal value—they possess the strongest capabilities for real-world scenario validation, and a company backed by all four is most likely to secure future orders.

5. Meituan is the largest company investor with the clearest industrial logic. Its investments—Zhihang Shi (the nimble hand), Tianji Intelligence (the body), and Dgua Robotics (the computing platform)—cover the entire robotics industry chain, from upstream to downstream, with each company directly integrable into Meituan’s delivery and warehousing scenarios.

Ant Group led the angel round for Lingxin Qiaoshou, marking its largest investment to date in the hardware sector. Leading a multi-hundred-million-yuan investment in the market leader of the dexterous robotics space signals that Ant Group is no longer content with following others—it is now independently positioning itself in core components of embodied intelligence.

The depth of corporate venture capital (CVC) involvement is a key indicator of a sector’s maturity. According to IT Juzi data, CVC participation reached unprecedented levels in the 2026 wave of new robotics unicorns—among the 19 companies, at least 17 received investment from industry players.

1. The new energy/automotive industry chain is the most active CVC camp.

SAIC Motor is the most active corporate venture capital (CVC) in this wave of the automotive industry. Through direct investments and its subsidiary Shangqi Capital, SAIC Motor has consistently invested in four unicorns:

SAIC’s investment portfolio spans the brain (independent variable), dexterous hands (critical point, Pacini), and complete systems (Zhuji Power), making it the single automotive industry CVC with the broadest coverage among the 19 unicorns.

Other automotive industry CVCs:

BAIC Capital: Has invested in Jijia Shijie, Digua Robotics, and Pasini (three companies), making it the automotive CVC with the second-largest investment coverage after SAIC.

• CATL: Invested in Qianxun Intelligence through Bore Capital (founded by co-founder Li Ping) and directly invested in Sudu Technology. CATL’s rationale is “both investor and customer”—Qianxun Intelligence’s humanoid robots have operated flawlessly on CATL’s battery production line, handling nearly a thousand batteries; this production line itself has been validated by CATL through real financial investment.

• BYD: Invested in Pasini Sensing. Another new energy vehicle manufacturer enters the market, drawn by the application of haptic sensing in automotive manufacturing.

• NIO Capital: Invested in ZhiJi Dynamics, signaling新能源 automakers' bet on humanoid robots entering automotive production lines.

Zhongding Holdings and Guangyang Holdings: Investing in ZhiJi Dynamics, representing automotive parts companies transitioning into robotics components.

• Juniper Electronics: At an investment inflection point, expanding from automotive components into dexterous hands.

• Changying Precision: Holds a 27% stake in Tianji Intelligent, the highest among the 19 industry participants—Changying Precision, as a precision manufacturing company itself, views its investment in Tianji Intelligent as a strategic move downstream.

2. Technology/Semiconductor Industry Chain

• Huawei/Haibo Investment: Invested in Qianxun Intelligence and Jijia Vision (see the Big Tech section above)

• Horizon: Invested in the Angel Round of Wuji Dongli, expanding into embodied intelligence through AI chip technology

• Zhongxin Juyuan and Shanghai Semiconductor Industry Investment Fund: Invested in Jiyi Vision, reflecting confidence from domestic semiconductor capital in the robotics chip sector.

• ThunderSoft: Invests in Stardust Intelligence, expanding intelligent operating system company into robotics

• Dongtu Technology: Invests in Zhujie Power, entering the industrial internet sector

3. Consumer / Retail / Entertainment Industry Chain

• Charoen Pokphand Group (Charoen Pokphand Robotics): Invested in Qingtian Leasing; the global agricultural and food giant sees potential in robotics applications within agriculture and food processing.

• Yili Group (Jianling Capital): Investment in Jiling Vision, reflecting the food and beverage giant’s demand for intelligent manufacturing

• Lansheng Technology, Meige Intelligent, and Changxin Corporation: Simultaneously investing in Qingtian Lease, as consumer electronics supply chain companies expand into the robotics sector

• Joyoung: Invests in Sweet Potato Robotics, a home appliance company venturing into robotics

• Huaxi Biotechnology: Invests in Zhi Pingfang, a cosmetic medicine/biotech company venturing into robotics

• Yuehua Entertainment: Invested in SkyRent’s angel round—this entertainment company’s foray into robotics was the most unexpected industry participant among the 19.

• Nai'ai Group: Invests in Zhujidongli, entering the daily chemicals industry

4. Communications/Telecom Providers

• China Mobile: Invested in Self-Variable Robotics for two consecutive rounds, as telecom operators seek entry points to the "next-generation intelligent terminal"

5. Peer investing in peers

• Leju Robotics: Invested in Lingxin Qiaoshou’s Series A+ round—a typical example of cross-investment along the industrial chain, where a humanoid robot integrator invests in a dexterous hand manufacturer.

The investment logic of corporate venture capital (CVC) is almost always "supply chain lock-in" rather than "financial return."

CATL invested in Qianxun to validate production lines, BAIC invested in Digua for automotive-grade chips, and Changyong Precision holds a 27% stake in Tianji to extend its manufacturing capabilities. SAIC’s consecutive three-round investments in Zhujie Power essentially aim to secure future robotic suppliers for automotive production lines. This means these industry players will actively provide orders and real-world use cases after investing—something pure financial VCs cannot offer as “value-added services.”

Among the 19 unicorns, 4 venture capital firms invested in more than 4 companies each, earning them the title of "versatile investors."

Hillhouse is undoubtedly the leading player in this wave of robotics investments, having invested in nine companies—almost achieving “full coverage”—from entire robots (Tianji, Sudo) to brains (WuJie), dexterous hands (Critical Point), algorithms (Lingchu), platforms (Qingtian Zu), and computing power (Digua), even including the newly registered Kunlunxing. Sequoia has invested in seven companies, showing a stronger preference for targets with compelling technical narratives, and has made early moves in the dexterous hand sector through Sequoia Capital’s seed fund.

According to IT Juzi data, this wave of new robotic unicorns has, for the first time, attracted systematic investment from overseas sovereign funds and oil capital—a phenomenon that was nearly unnoticed in prior public reports.

Temasek’s entry is highly significant—as one of the world’s most active sovereign funds, Temasek’s investments are typically seen as a signal of long-term value recognition. Its choice of Digua Robotics (a computing power platform) indicates that overseas capital recognizes robot chips and computing power as the most valuable segment across the entire industrial chain.

Prosperity7 has been even more aggressive, making multiple investments in both Qianxun Intelligence and Digua Robotics. In recent years, Saudi Arabia has made substantial investments in AI and robotics—including indirect stakes in OpenAI. Prosperity7’s repeated bets on China’s robotics sector demonstrate that Saudi Arabia is systematically converting its "petrodollars" into "tech dollars."

Among the 19 unicorns, one name appears repeatedly—Agibot. It is not an investee, but an investor:

AgiRobot itself is not on the list of 19 new unicorns (it became a unicorn earlier), but it has built a robotics ecosystem cluster through “spin-offs, incubation, and investment”: Linjie focuses on dexterous hands, Qingtian Leasing operates a leasing platform, and Lingchu develops algorithms. This is essentially a capital-driven approach to constructing an industrial chain—AgiRobot is acting as a holding company for the robotics industry.

At least 10 new robotic unicorns have received investment from securities firms or insurance funds:

The involvement of securities firms and insurance capital typically signals that the market is beginning to manage expectations around an "exit path through listing."

These types of capital have low risk tolerance and high compliance requirements; their entry indicates that the market has already priced in an IPO expectation.

Zhuji Power secured investment from four securities firm-backed capital providers—Guangfa, Guotai Junan, CITIC Construction, and Tianshuang—essentially selecting their IPO underwriters.

Zhifangping has also attracted two leading securities firm-backed investors, CICC Capital and CITIC Construction Investment, with a strong IPO signal evident in its capital structure.

Lingxin Qiaoshou has secured partnerships with four major securities firms/financial institutions—China International Capital Corporation, Guangfa Securities, Shanxi Securities, and Bank of China—making its listing prospects the most clearly defined in the Qiaoshou segment.

"Full-chain capital coverage" is an indicator of the valuation ceiling.

Zhi Square and Ziyuan are the only two among the 19 companies to achieve full-chain coverage spanning “state-owned teams, local state-owned enterprises, industry players, major internet firms, top-tier VCs, and securities and insurance capital.” The breadth of capital coverage directly correlates with the highest valuation ceiling. Ziyuan uniquely brings together four major tech giants (Meituan, Alibaba, ByteDance, and Xiaomi), making it the most strongly signaled investment target in terms of capital backing.

2. SAIC Group is the most active corporate venture capital (CVC) in the automotive industry.

SAIC Motor, through direct investments and Qishen Capital, has invested in four unicorns: Zixiang, Zheji Dynamics, Pasini, and Critical Point, and has participated in three consecutive funding rounds for Zheji Dynamics. The automotive industry is using capital to secure future robotic suppliers.

3. Systematic entry by overseas sovereign funds.

The entry of Temasek (Singapore) and Saudi Aramco Ventures (Prosperity7) signals that China’s robotics sector has gained recognition from global sovereign capital. Saudi Aramco’s multiple investments in Qianxun Intelligence and Sweet Potato Robotics indicate a strategic, systematic approach rather than a tentative entry.

4. Industry participants (CVC) are deeply involved.

In 2026, at least 17 new robotic unicorns received investments from industry players, with major giants from diverse sectors—including CATL, SAIC Motor, BAIC, BYD, Huawei/Harbor, ThunderSoft, China Mobile, Yili Group, and Charoen Pokphand Group—all entering the space.

5. Pure financial VCs still exist, but their roles are changing.

Top VCs such as Sequoia (7 companies), Hillhouse (9 companies), and BlueChilli (5 companies) remain dominant, but they are increasingly acting as “organizers” rather than just investors—Hillhouse investing in 9 companies and Sequoia in 7 are essentially bringing together their portfolio companies to facilitate business connections. The core competitive advantage of VCs is shifting from “selecting projects” to “building ecosystems.”

6. Heavy entry by brokerage firms = IPO expectations are kicking off.

Zhuji Power has secured investments from China Everbright, CICC, CITIC Construction, and Tianchuang; Zhi Pingfang has secured investments from CICC and CITIC Construction; Lingxin Qiaoshou has secured investments from CICC, China Everbright, Shanxi Securities, and Bank of China; Jiashenhua has secured investments from Bank of Communications, Guohai Securities, and Minsheng Bank—this surge of capital from securities firms typically precedes IPO filings by 12 to 18 months, suggesting that 2027–2028 may witness a wave of robot unicorns going public.

This article is from the WeChat public account "IT Juzi" (ID: itjuzi521), authored by Judy.