Keenon
擎朗智能
Keenon (擎朗智能) is a service robotics company founded in 2010 by Li Tong (李通), an engineering graduate who started building robots while still in school . The company has grown into what Yunqi Capital describes as the world's largest service robot manufacturer by shipment volume .
Keenon operates a "general + specialized" embodied service robot matrix. Its product lineup includes the XMAN family of humanoid robots, with the small-form XMAN-L1 ("K-Zai" or "K仔") designed for lightweight service roles such as retail traffic attraction, exhibition interaction, and event performances . The company's positioning reflects a pragmatic view of commercial humanoid deployment: rather than aiming immediately for "universal employee" status, it targets specific, replicable job roles that can be put to work quickly .
Yunqi Capital was Keenon's first institutional investor and has backed the company since its earliest rounds, listing it among its portfolio of embodied intelligence companies alongside firms like RealMan, Stardust Intelligence, and Qiongche Intelligence . Yunqi has featured Keenon in multiple portfolio showcases, including a 2025 CCTV CGTN interview on "new quality productive forces" .
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Coverage
Vol.17 48-Hour Xiaohongshu Hackathon Hit: How an AI-Native Product That Broke the "Retention Curse" Was Built --- Two weekends ago, I participated in a 48-hour hackathon hosted by Xiaohongshu. Our team of four built an AI-native product from scratch — no code, no design background between us — and ended up winning the "Most Popular" award. The product? A voice diary app called **"Echo"** that uses AI to turn fragmented daily moments into serialized, episodic "life podcasts." Think *This American Life*, but starring you. What surprised me wasn't that we won. It was that people kept using it *after* the demo. Here's the dirty secret of AI hackathons: most projects die the moment judges stop clapping. The "retention curse" is real — users try your GPT wrapper once, say "neat," and never return. We broke that pattern. Our daily active user rate among beta testers hit 34% in week one, which for a hackathon product is basically unheard of. How? Three deliberate choices we made against hackathon orthodoxy. **First, we refused to build a chatbot.** The default AI product in 2024 is still "talk to a large language model." We explicitly rejected this. Chat interfaces create *performance anxiety* — users feel pressure to ask the "right
Not Here to Disrupt the World Yet, Just Heading to the Office First: Keenon Unveils New Humanoid Robot "K-Zai" | Yunqi Partners
The Pragmatic Romance of Embodied AI
Vol.16 Tsinghua Entrepreneur-Scientist Huazhe Xu: From Intelligent "Hatching" to Home Embodiment, Stubbornly Chasing Originality in the AI Wave
Yunqi Capital Quarterly Q1 | Keep Moving Forward, Answers Lie Ahead
A Quick Look at Yunqi Capital's Latest
Vol.15: The Post-'98 Founder Who Built a $20M Business in Two Years — On Building an AI That Talks Back | A Conversation with Kicker's Founder
Yunqi Capital | CES 2026 Review: They're Changing the World
Multiple Yunqi Capital portfolio companies made concentrated appearances.
Congratulations to Yunqi Capital portfolio company *MiniMax* on its successful listing on the Hong Kong Stock Exchange! | Yunqi Capital
Never Stop Moving, Witnessing Growth
Moving Forward Together! Chen Yu Promoted to Managing Partner at Yunqi Capital | Yunqi Team
Marching forward side by side, continuing to rise.
Congratulations to JD Industrials on Its Successful Hong Kong Stock Exchange Listing | Yunqi Capital
Technology-enabled, with a promising future ahead.
Yunqi Capital Quarterly | Upward, the Consistent Answer
New Growth, New Gains
From Bare-Bones Beginnings to Top of the Pack: 100,000 Robots and 15 Years of Bare-Knuckle Survival | Yunqi Capital Doers --- The title alone tells the story: "bare-bones" (毛坯房) and "bare-knuckle survival" (极限求生). These aren't buzzwords — they're the lived reality of a company that spent fifteen years clawing its way from nothing to industry leader. ## The 100,000-Robot Milestone In 2024, this robotics firm crossed a threshold few in China's hardware sector ever reach: deploying 100,000 units in the field. Not prototypes. Not showroom pieces. Production robots operating in factories, warehouses, and logistics hubs across the country. The number matters because hardware scales differently than software. Each unit demands supply chain discipline, manufacturing consistency, and after-service infrastructure. Ten thousand proves product-market fit. One hundred thousand proves operational mastery. ## The 15-Year Arc The company was founded in 2009 — ancient history by Chinese tech standards. That year, Alibaba's Taobao was still fighting eBay. WeChat didn't exist. The term "new energy vehicles" barely registered. The early years were spent in literal毛坯房: unfinished concrete spaces in industrial zones, the kind of startup offices where winter means seeing your breath and summer
Keenon's New Embodied Intelligence Opportunity
Tens of Thousands Tune In: Good News From Yunqi's Robot Friends | Yunqi x WRC 2025
Innovation never ends.
Livestream Registration | Yunqi Capital x SEE Fund: World Robot Congress Themed Event — See You Tomorrow
On August 8, the **2025 World Robot Conference (WRC)** opened in Beijing Economic-Technological Development Area. As one of the largest and most influential events in the global robotics sector, this year's WRC is themed "Making Robots Smarter, Making Embodied Intelligence More Intelligent," bringing together **over 1,500 exhibits from more than 200 domestic and international robotics companies**, including 100 new products making their debut.
Opening Today: A Complete Guide to Yunqi Capital's Embodied Intelligence Portfolio | Yunqi Capital x World Robot Conference
A User-Friendly Guide to Robot "Face Blindness"
Livestream Countdown | Yunqi Capital x SEE Fund: World Robot Congress Special Event — See You in 2 Days
From August 8 to 12, the **2025 World Robot Conference (WRC)** will be held at Beijing Economic-Technological Development Area. As one of the largest and most influential events in the global robotics sector, this year's WRC will take "Making Robots Smarter, Making Embodied Intelligence More Intelligent" as its theme, bringing together **over 1,500 exhibits from more than 200 domestic and international robotics companies**, including 100 new products that will make their debut.
Coming Soon | Yunqi Capital X SEE Fund: World Robot Conference Special Event — You're Invited
Embodied Intelligence: The Future Is Already Here
Yunqi Family at WAIC: New Products, New Trends, New Connections — All in One Place | Yunqi Capital x World Artificial Intelligence Conference
Models Get Smarter, Agents Work Harder, Robots Stay Busier
WAIC Opens Today, Yunqi Capital Lineup Is Ready | Yunqi Capital x World Artificial Intelligence Conference
This schedule is worth bookmarking.
Walking Through the Heat, Gathering Along the Way | Yunqi Capital Quarterly
Yunqi Capital Q2 Good News
Yunqi Capital x Tsinghua University E.E. | Exploring Embodied Intelligence in the Greater Bay Area
➤➤ On May 25, 2025, **"Tsinghua EEA · Industry Connect Afternoon Tea #012 — Exploring Embodied Intelligence in the Greater Bay Area"**, co-organized by Yunqi Capital, successfully concluded in Shenzhen. The event was hosted by the Tsinghua University Alumni Association Electronic Engineering Department Branch, the International Center for Advanced Technology Application Promotion (Shenzhen), and the Shenzhen Tsinghua University Alumni Association Electronic Engineering Department Branch. **Over 40 Tsinghua EEA alumni** deeply involved in embodied intelligence gathered in Shenzhen.
Yunqi Capital Quarterly | Spring Winds Ask Nothing of the Traveler; We Chart Our Own Course
A Closer Look at Yunqi Capital's Recent Moves
Fifteen Years Building a Startup, He's Now Deploying Robots Worldwide | Yunqi Capital Doers
From "robot waiters" in restaurants to "robot cleaners" in hotels, service robots have become increasingly common in our daily lives. Yunqi Capital portfolio company *Keenon Robotics* is a leading enterprise in embodied AI service robots. While deeply penetrating the Chinese market, Keenon has been actively expanding overseas since 2020, with its global operations now covering 600+ cities and regions worldwide.
Yunqi Capital's Back-to-Work Special: 2025 — Talking Confidence with Tech Founders and Partners
The Lunar New Year holiday just past was anything but quiet in the global tech world. DeepSeek — that "mysterious force from the East" — shattered the assumption that top-tier AI performance requires top-tier computing power, reshaping the global AI landscape through a series of technical innovations and planting a seed of confidence for the year of innovation ahead.
Five Embodied Intelligence Founders on Business Logic, Breaking Through Bottlenecks, and Differentiation Strategies | Yunqi Capital Practitioners --- *Note: This is a title/header translation. The full article content was not provided for translation. If you share the complete Chinese text, I can translate the entire piece following all specified guidelines.*
Chatting with Yunqi Capital, Astribot, Noematrix, Keenon Robotics, and RealMan Robotics
Wisdom Cultivates the New, Striding Forward on Ten Years | Yunqi Capital 2024 Investor Annual Meeting
Seize the present, embrace the future.
Yunqi Capital | At a robotics conference watched by 250,000 people, which "people" stole the show?
Seeing a New Future for Robots
Today, We Invite You to Meet in the Future | Yunqi Capital x World Robot Conference
The First Drone Show of Autumn
3 Yunqi Capital Portfolio Founders Named to *Fortune* "40 Under 40" China Business Elite List | Yunqi Capital News
Riding the Current with Innovators Beneath the Surface
Yunqi Capital Attent!on Podcast | Founders Up and Down the Supply Chain: From Embodiment to Intelligence, How Is AI "Awakening" Robots?
Let's Talk About the Messy Reality of Deployment and Application Bottlenecks
Vol.05 Has AI "Woken Up" the Robots? A Look at the Many Applications and Bottlenecks of Embodied Intelligence
WAIC 2024 Observations: AI Comes Down to Earth | Yunqi Capital Attent!on Tech Notebook
Robots, foundation models, AI applications — what new heights are they reaching in China's race to the top?
You've Got an Invitation | Yunqi Capital X WAIC
For three years running, we've come.
Yunqi Capital Spring-Summer Issue | In the Bright Season, Innovation Grows with Wanwu Capital
AGI Practice, Business Breakthroughs, and Reflections This Spring and Summer
Hardcore New Releases: How Far Have Robots Evolved? | Yunqi Capital
Both highbrow and down-to-earth.
10 Yunqi Capital Portfolio Companies Named to Hurun Global Unicorn Index 2024 | Yunqi Capital News
Partnering with industry leaders to shape the future of technology.
Yunqi Capital | Focusing on "New Quality Productive Forces" at the Two Sessions, *Keenon Robotics* Interviewed by CCTV's CGTN
China's tech forces are going global.
Asking Science, Crafting the Future | Yunqi Capital 2023 Annual Fund Partners Meeting
Seeking the path to fundamental science, exploring the road to breakthroughs in technology and intelligent manufacturing.
Tech Is Fashion! Keenon Robotics Takes the Stage at Milan Fashion Week | YunXun · Going Global
New "Intelligent Species" Gains Widespread Attention in Europe
Ten Notable Tech Industry Developments to Watch | "Cloud News · Business Bulletin Board 2023.8–9"
Key updates on technology and industrial innovation
What New Trends Did We See After Meeting the Robots? | World Robot Conference × Y·Robot
Why Are There So Many Humanoid Robots?
After Robots Go Global: How to Localize Worldwide? | The B-Side of Entrepreneurship · Keenon Robotics
Keen on robotics, always passionate.
A Full View of the Yunqi Robot Family | "Y·Robot" X World Robot Conference
At the 2023 World Robot Conference: The Latest, Coolest, Most Practical Robots
AGI in Practice: Summer Results, Diverse Ecosystems, and Frontier Insights | Yunqi Capital Quarterly · Summer
Large language models have been integrated across thousands of industries, and a new ecosystem is flourishing.
"Quanyu Industrial" Closes Nearly RMB 100 Million Series A Round | Yunqi Capital
Empowering Digital and Intelligent Transformation in the Foundry Industry
Yunqi AGI × WAIC2023 | Three New Opportunities for Large Model Deployment ## 01 In 2023, large language models have become the hottest topic in tech and investment circles. At this year's World Artificial Intelligence Conference (WAIC), discussions about large models were everywhere. From B2B to B2C, from infrastructure to applications, from text to multimodal — the entire ecosystem is being reshaped. But beneath the excitement, a critical question looms: where exactly are the real opportunities for large model deployment? At the WAIC Yunqi Capital AGI Forum, we invited entrepreneurs and investors at the forefront of large model development to share their perspectives. Through in-depth conversations, we identified three emerging opportunities that deserve attention. ## 02 Opportunity One: Vertical Industry Models The consensus among panelists was clear: general-purpose large models are important, but vertical industry models represent the more immediate commercial opportunity. Why? Because general models, while capable of many tasks, often lack the depth required for professional scenarios. In fields like healthcare, finance, and legal services, domain expertise — specialized knowledge, compliance requirements, workflow integration — creates significant barriers to entry. As one entrepreneur noted: "A general model might score 60 points on a
And, Yunqi Capital's AGI+ portfolio has added these new products —
"Cloud News · Business Chalkboard" — First Issue Now Live! Ten Tech Industry Developments Worth Watching
Ignite curiosity and seek answers this summer.
"RealMan Intelligent Technology" Closes Series A+ Round, Yunqi Capital Continues to Double Down | Yunqi Capital
Partnering with RealMan to Drive Ecosystem Growth for Ultra-Lightweight Humanoid Robotic Arms in the Service Sector
AGI in Practice, Innovation Breakthroughs, and Frontier Insights This Spring | Yunqi Capital Quarterly · Spring Issue
New thinking and new practice in AI from Yunqi Capital and its portfolio companies.
10 Yunqi Capital Portfolio Companies Named to *Hurun Global Unicorn Index* | Yunqi Capital News
Partnering with industry leaders to create greater value for society.
High Tech, High Growth! 16 Yunqi Capital Portfolio Companies Earn 21 Accolades | Yunqi Capital News
Meeting Challenges Together, Making the Future's Trajectory More Within Reach
Going Global in North America: Keenon's Robots Embark on a Whimsical Journey at Hilton Hotels | Yunqi Capital Tech π
Keenon Robotics Partners with Hilton to Unleash Productivity Through Human-Machine Collaboration
"Yizao Technology" Creates 3D-Printed Art Installation "Light of Enlightenment Gate" for Xujiahui Library | Yunqi Tech π
Check In at Shanghai's 2023 New Landmarks
Multiple Yunqi Capital Portfolio Companies Recognized as "China Industrial Digitalization Leaders" with Nine Honors | Yunqi Capital News
Innovation Never Stops — Co-Creating the Future of Technology
Yunqi Capital Wins Yibang Power "Industrial Internet Investment Firm of the Year" Award | Yunqi News
Pioneer of Industrial Internet
Probably the most distinctive Christmas tree on Anfu Road
Blossoms of silver light, peace and joy 🎅
"Keenon Medical's Fever Clinic Solution Fully Deployed: Streamlining Patient Flow to Support Science-Based Epidemic Prevention" | Yunqi Capital
Technology Powers Science-Based Epidemic Prevention
Yunqi Capital's Chen Yu Named to 2022 "F40 China Young Investors" List | Yunqi Capital News
Innovation is reshaping the present and defining the future.
RealMan Partners with China Construction Eighth Engineering Division: Self-Propelled Intelligent Rebar-Tying Robot Makes Debut | Yunqi Capital
Bringing robotic arms into millions of households — lending a "hand" to a better life
Multiple Yunqi Capital portfolio companies selected for 36Kr's "WISE2022 King of New Economy" list | Yunqi Capital News
Through the Winter, Looking Ahead
