Hangzhou-based Unitree Robotics, a rising star in China’s booming robotics industry, has increased its registered capital from 2.6 million yuan to 2.9 million yuan (US$400,000), a move that could signal preparations for a new fundraising round.
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The company fuelled speculation about a potential initial public offering (IPO) in May when it transitioned from a limited liability company to a joint-stock company. According to Chinese corporate database Tianyancha, this restructuring allowed Unitree to raise more capital as its operations continued to grow.
Unitree has garnered significant attention, becoming a poster child for China’s dynamic robotics sector. The company achieved nationwide fame after its H1 robots captivated audiences with a dancing performance at the country’s televised Lunar New Year evening gala. In February, Unitree founder and CEO Wang Xingxing was one of the Chinese tech entrepreneurs invited to a high-profile symposium hosted by President Xi Jinping.
While Unitree has not yet formally disclosed any listing plans, Chinese digital media outlet Sohu Tech reported this month, citing sources, that the start-up could be valued between 10 billion yuan and 15 billion yuan in a pre-IPO financing round.
The confirmed capital base increase is likely a preliminary step towards such a larger funding round. Unitree’s last financing round in September attracted significant investment from entities like Beijing Robotics Industry Development Investment Fund, Meituan, and HongShan, valuing the company at 8 billion yuan at that time.
Unitree is recognised as one of Hangzhou’s Six Little Dragons, alongside China’s artificial intelligence start-up DeepSeek.
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During a visit by Hong Kong Chief Executive John Lee Ka-chiu to Hangzhou in April, founder Wang indicated that a listing in Hong Kong was a possibility and that Unitree was actively expanding into the global market and had established a business base in the city.