Chinese Robot Maker Unitree Reaches Unicorn Status With Major Tech Backing
Unitree Robotics secures a US$1.3 billion valuation in a new funding round backed by ByteDance, Alibaba, and Tencent. The Hangzhou-based company earns global recognition as a top producer of quadruped and humanoid robots.
Unitree Robotics reaches unicorn status after completing a new financing round that values the Hangzhou-based company at over 10 billion yuan, or US$1.3 billion. The start-up attracts significant investment from major Chinese technology firms, including ByteDance-linked Jinqiu Capital, Alibaba Group Holding, Ant Group, Tencent Holdings, China Mobile, and Geely Group.
The company stands out as the world's top producer of quadruped and humanoid robots, according to Jinqiu partner Zang Tianyu. Unitree combines extensive hardware and software expertise to drive advances in the robotics sector, positioning itself as a leader in the development of advanced humanoid machines.
Unitree gains widespread public attention when its humanoid robots perform dancing routines at China Central Television's annual Lunar New Year's Eve gala. Founder Wang Xingxing, aged 35, also rises to prominence as a leading young entrepreneur after attending a high-profile symposium hosted by President Xi Jinping in February.