Keenon
擎朗智能
Keenon (擎朗智能, Keenon Robotics) is a Shanghai-based service robot company founded in 2010 by Tong Li, an engineering graduate who had been tinkering with robots since his student days; it builds and operates unmanned delivery robots for the local-life sector, acting as both manufacturer and operator . Its commercial breakthrough came via restaurants — Haidilao became its first major customer, and Keenon helped it build what Yunqi Capital calls the world's first smart restaurant, which still runs 8 of its latest-model robots . Funding milestones include Yunqi Capital leading its first round in 2016 as its first institutional investor, and a RMB 200 million Series B announced in March 2020 led by Source Code Capital, just as it was partnering with Meituan and the China Cuisine Association on "contactless restaurants" during the pandemic recovery . More recently it has pushed overseas — per Yunqi Capital's 2025 telling, partners like SoftBank Robotics and Hyundai handle operations in markets such as Japan and Korea, and the company has shipped 100,000 robots on its way to what Yunqi frames as global No. 1, with newer product lines like the T10 delivery robot and C30 cleaning robot unveiled in 2023 .
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Coverage
Talking Embodied Artificial Intelligence with Yu Chen: Embrace the Bubble, but Manufacturing Must Eventually Do the Math | Yunqi Capital Insights X Tencent Technology
The truly slow and expensive variable is data accumulated bit by bit by people in the real world.
Vol.19 Scaling Isn't Just About Stacking Data: Three Embodied AI Founders on World Models, Talent, and Real-World Deployment
Yunqi Capital Quarterly Q2 | In the Height of Summer, the Future Takes on More Concrete Shapes
A Quick Update on Yunqi Capital
Yunqi Capital WAIC Recap | Four Days That Weren't Enough, and Where AI Is Headed Next
The future belongs to the doers.
Please find attached: Yunqi Capital's WAIC 2026 Roaming Guide
Browsing exhibitions by day, hitting up events by night.
Code Moment | Independent Variable Robotics Closes Four Consecutive Funding Rounds, Valuation Exceeds 20 Billion Yuan
Source Code Capital participated in SelfVariable's Series C round, another key move in its Embodied Artificial Intelligence ecosystem map.
Vol.17 48-Hour Xiaohongshu Hackathon Hit: How an AI Native Product Broke the 'Retention Curse'
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
Code Moment | Congratulations to LDROBOT on Hong Kong Stock Exchange Listing, Becoming the First Listed Spatial Perception Robotics Company
Source Code Capital participated in J&T Global Express's Series B round and continued to increase its stake in subsequent rounds.
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
MaKe | 11 MaHui Companies in AI Robotics and Intelligent Systems Debut at CES 2026, Building an Intelligent Future Across All Scenarios
Unitree, Galaxy Universal, Booster Robotics, Keenon, Cloud Whale, Woan Robotics, Xingmai Innovation, LD Robot...
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
MaHui | Multiple MaHui Member Companies Named to MIT Technology Review's Annual "50 Smartest Companies"
Unitree, Moonshot AI, WITMEM, Keenon Robotics, METiS Pharmaceuticals, and DeepWise made the list.
From Bare-Bones Office to Global No. 1: 100,000 Robots and 15 Years on the Brink | Yunqi Capital
Keenon's New Embodied Intelligence Opportunity
Code Brain · 2025 WRC Series | Five Voices: Commercialization Challenges for Robotics and the Pitfalls of Going Global
During the World Robot Conference 2025, Xiang Li, partner at Source Code Capital, moderated a roundtable with Tong Li, founder and CEO of Keenon Robotics; Xu Xu, director at Starmax; Chuansheng Wang, chief strategy officer at HAI ROBOTICS; and Tianyu Zang, partner at Jinqiu Fund.
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
MaHui Spotlight | Over a Dozen MaHui Members Showcase AI Hardware Strength at WAIC
Unitree, Li Auto, Moonshot AI, Galaxy Universal, Mech-Mind, Keenon Robotics, Lynksoul, Biren Technology, and more than ten other MaHui member companies appeared at WAIC
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 AI Entrepreneurs on Commercial Logic, Breaking Through Bottlenecks, and Differentiation Strategies | Yunqi Shiganpai
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 Capital at WAIC 2023: Three New Opportunities for Large Model Deployment
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.
Source Code Capital | Source Code Capital Honored with "Top Investors and Investment Firms Across Ten Innovation Economy Sectors" Awards
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
Code View | Wu Jian, Source Code Capital: Reassessing the Value of Manufacturing
Source Code Capital portfolio company StreamNative announced the completion of a $23 million Series A funding round, with existing shareholder Source Code Capital continuing to increase its investment.
Driving sustainable development in open-source communities and helping enterprises achieve digital transformation.
Jellyfish Intelligence Raises 70 Million Yuan in Series A Led by Source Code Capital
Let everyone enjoy the beauty of design through AI intelligence.
Source Code Capital portfolio company Mech-Mind raises 1 billion yuan, with existing investor Source Code Capital continuing to increase its stake
Make intelligent robots ubiquitous.
Source Code Capital portfolio company "ONES" announces $50 million Series C round, with existing investor Source Code Capital continuing to increase its stake
Dedicated to building R&D management systems tailored to the needs of Chinese tech companies.
Source Code Capital portfolio company HAI ROBOTICS raises over $200 million across two rounds, with existing shareholder Source Code Capital continuing to increase its stake
Accelerating its global expansion, the company's operations now span more than 30 countries and regions across five continents.
Source Code Capital portfolio company Keenon Robotics announced the completion of a $200 million Series D funding round. Source Code Capital led the company's Series B round.
Dedicated to providing intelligent autonomous delivery solutions for enterprises worldwide.
What do CEOs of smart manufacturing companies talk about when they get together?
Stande, XYZ Robotics, Keenon, Chuxin... All the robotics companies you care about are right here.
6 Source Code Capital Portfolio CEOs Make "36 Under 36" List of Remarkable Founders
Create Lasting, Genuine Value
Guofeng Content E-Commerce Platform *Wanwudezhi* Closes Tens of Millions of Dollars in Series B Funding, Led by Source Code Capital
It hit 2 billion yuan in revenue within a year of launch.
World's First Smart Mopping Robot 'Cloud Whale' Announces Close to 100 Million Yuan Series B Funding Led by Source Code Capital and ByteDance
The World's First Smart Mopping Robot
Source Code Capital portfolio company "Qingzhu" announces completion of tens of millions of dollars in Series B funding — Source Code Capital was the sole angel round investor
Qingzhu currently has over 3,000 partner hotels under contract, with full coverage across all first-tier, new first-tier, and second-tier cities nationwide.
Delivery Robot Maker Keenon Closes RMB 200 Million Series B Round Led by Source Code Capital
Keenon has partnered with more than 1,000 B2B clients, expanding into over 400 cities across China and multiple overseas markets.
