Early 2026, robotics funding exceeds 20 billion yuan. The roundtable forum gathers industry experts to discuss the sector's value and opportunities for international expansion.

On March 27, alongside the first Overseas Investment and Comprehensive Services Exhibition and Matchmaking Fair (OIF 2026), the KETON Technology Robotics Industry Ecosystem Forum’s investment and financing roundtable was successfully held at the same time. Centered on the core theme of “track value and capital synergy,” the forum, against the backdrop of Unitree Technology’s IPO launch and continuing industry fundraising momentum, invited guests from the industrial, investment, and legal sectors to jointly discuss the investment logic for the robotics track, companies’ financing pain points, and the path to integrating industry with finance, providing practical references for the industry’s development.

According to data, in 2025 there were 674 robotics-related financing events, with the total amount reaching a record high; by the time the forum was held in 2026, more than 190 financing deals had been completed, with the total amount exceeding 20 billion yuan. Unitree Technology’s IPO launch has also become a landmark event marking the industry’s move toward large-scale development. The industry has shifted from the frenzied concept period to the critical stage of commercialization and implementation. Investment logic has moved from chasing technological narratives to focusing on real-world application demand and order conversion.

The forum was hosted by Wang Jiawei, Founder of Zhenarong Consulting. Guests including Liu Yang from PIX Moving, Chen Zhen from Qianchuang Capital, Chen Zhilin from Common Sense Investment, and Xu Renjie from Jinghe Law Firm participated in the dialogue.

Chen Zhen of Qianchuang Capital said that early investment hotspots were concentrated in core component companies, but localization of upstream key core components is the foundation of the industry. Technological breakthroughs in areas such as reducers and sensors carry more long-term value. Chen Zhilin of Common Sense Investment also warned that there is a need to be wary of a hardware valuation bubble for high-end embodied intelligent robots. Industrial customers especially emphasize cost recovery within 18 months; only companies that can enter real demand scenarios have investment value.

Financing strategies on the industrial side are becoming more pragmatic. Liu Yang of PIX Moving revealed that the industry has shifted from “valuing with expected future revenue” to “pricing based on stable past revenue.” Capital requirements are that the financing funds must be used for industrialization implementation and order creation. He proposed that urban service scenarios, due to their high repeatability and structural characteristics, are a high-quality entry point for embodied intelligent industrialization, and that technology rollout can be accelerated through “scenario dimensionality reduction.”

Regarding the investment preferences of different capital groups, the guests noted that U.S. dollar and technology-focused funds concentrate on cutting-edge technologies such as tactile sensing sensors and simulation mechanics; industrial capital focuses on replicable scenario deployment; government-guided funds emphasize industrial implementation and employment-driven effects, and pay greater attention to projects such as data factories.

From a legal perspective, Xu Renjie of Jinghe Law Firm interpreted changes in investment and financing transactions. Before financing, companies place more emphasis on building fine-grained corporate and financing structures. Cross-border structure planning and the design of earn-out/valuation adjustment (betting) clauses have become more rigorous, and founders’ joint liability is generally set with an upper limit. He suggested that companies should build a three-dimensional intellectual property protection system, and make advance plans for data compliance and AI ethics risk prevention and control.

Looking ahead, the guests reached a consensus that the closer the pricing power is to customers, the stronger it is. Deep coordination across upstream and downstream will be an inevitable trend. Investment hotspots will concentrate on large-scale shipment scenarios, independent data providers, and industrial mergers and acquisitions and integration. Compliance capability will become a company’s core competitiveness.

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