China’s robotics market is witnessing an investment boom, as start-ups in the field obtain increased venture- capital funding, raising the sector’s potential to become as important as the country’s electric-vehicle (EV) industry.
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In the first two months of the year, nearly 2 billion yuan (US$276 million) in new funding went to humanoid robot developers across 20 deals, up from 1.2 billion yuan generated from 4 transactions a year earlier, according to data from ITJuzi, which tracks China’s venture-capital market.
That development reflects China’s position as a leading player in building humanoid robots; the domestic industry predicted to be on the cusp of achieving mass production and commercialisation in 2025.
Of the 100 publicly-traded companies worldwide that Morgan Stanley “confirmed to be involved” in developing humanoid robots, 56 per cent were based in China, according to a research paper published last month.
China is also home to 45 per cent of the world’s integrators, which are firms that customise robots to match end-user needs, according to the report.
At least three Chinese robotics start-ups on Thursday announced new financing, including LimX Dynamics, AI2Robotics and Eyoubot.