Unitree
宇树科技
Unitree (宇树科技) is a Hangzhou-based robotics company founded in 2016 by Wang Xingxing, who serves as both CEO and CTO after his XDog quadruped project drew attention and a 2 million RMB angel round. It built its name on quadruped robots — from the consumer-grade Go2 to the industrial B2 and the 2025 industry-grade A2 — and broke into mainstream consciousness when its H1 humanoid robots performed on the 2025 CCTV Spring Festival Gala, billed as the first large-scale fully AI-driven humanoid group performance. Its backers include Source Code Capital, Sequoia China/Hongshan, Matrix Partners China, and Meituan, with a near-1-billion-RMB B2 round closed before the 2024 Spring Festival; Monolith's Xi Cao landed on the 2025 Forbes Midas List partly on the strength of his early Unitree bet.
The company listed on the STAR Market on August 19, 2026, touching 1,100 yuan per share at one point for a market cap above 440 billion yuan, before pulling back to 477.12 yuan and roughly 193 billion yuan by September 11. Commercially, though, its humanoid customers remain mostly universities and research institutions, with industrial and household use cases unproven — Wang himself has said robots truly entering homes is "not something achievable in the next two or three years."
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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.
Hands-On Review: Tencent Meeting's New Illustrated, Visual Meeting Minutes
In a meeting, there are more things you can hand off to AI than you might think.
Physical Intelligence Co-founder Chelsea Finn: Physical AI Has Reached Its GPT Moment
What does it actually take to make robots truly functional in the real world?
When Robots Start Running Experiments, AI for Science Hits an Inflection Point | A Conversation with Wenzhao Lian of Yuanluo Technology
Where Will Robots Converge Next?
22-Year-Old Embodied AI CEO, 5 Funding Rounds, Over $100 Million: "Don't Know How High the Sky Is," "Ate Ten Years of Bitterness in One Year" | Interview with RoboParty's Huang Yi
Runaway Legs, Lying Flat, and Fire: 21 Viral Moments From the 2026 Humanoid Robot Games
Let the first batch of robots that have taken on humanoid form start moving first.
Qiming Weekly | Top 10 Updates from Qiming Venture Partners Portfolio Vol.27, 2026.8.26
Celebrating milestone moments with Qiming Venture Partners' portfolio companies.
In Conversation with RIVR's Marko: From Refugee Streets to Amazon, Life Has No Safe Zone
From a land without a country, to a trillion-dollar river.
The Day Unitree Surged 629%, GEN 1.5 Dropped: Is the Robot ChatGPT Moment Finally Near?
People always overestimate change in the next two years and underestimate change in the next ten.
The elsewhere Podcast Is Back with Xing Meng
Better to not live at all than to live without enough experience.
The Start of Autumn — Wanwu Awaits the Harvest | Linear Quarterly
Spring sows, summer grows — the answer is on its way.
We captured 28 moments at WAIC, piecing together a cyber *ukiyo-e*.
Melting from the heat.
What Are Investors Worried About in AI's Hottest Six Months?
If the AI industry starts "popping bubbles," which category of companies would be the first to get repriced?
What Are Investors Worried About After AI's Hottest Six Months?
If the AI industry starts "deflating," which category of companies will be the first to get repriced?
Ant Group Treats World Models Like a Game
A Flash of Insight on a Hot Stove
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.
MaHui Entrepreneurs | Booster Robotics' Cheng Hao: Not Chasing Trends, Just Building an Embodied AI Company That's "Still Here in Ten Years"
Monolith's Xi Cao Named to Forbes 2026 Midas List
Made the list for two consecutive years on the strength of investments in MetaX, Unitree, and other companies.
Drinking Beer with Lex Fridman in Beijing
He's come to China too.
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.
Event Recruitment | Let AI Grow in Real-World Scenarios
April 30 · Shenzhen. Code Brain x WAIC Future Tech. Looking forward to meeting you, the AI founder.
Code Moment | Congratulations to Global Leading High-Performance CIS Provider Gpixel on Hong Kong Stock Exchange Listing
A MaHui portfolio company and one of the world's top-three high-performance CIS providers, Gpixel, has officially listed on the Main Board of the Hong Kong Stock Exchange.
Embodied AI Goes Global to Close the Data Loop: Imperial College Postdoc's UK Startup Raises Tens of Millions of RMB
A real-world case study of embodied globalization.
Source Code Rhythm Closes Over $150 Million Fund, Focuses on AI and Globalization
Focused on early-stage investing, with independent fundraising, independent decision-making, and independent operations.
Source Code Rhythm has raised over $150 million for its first fund and has launched RMB fund fundraising.
Another oversubscribed early-stage USD fund.
The First USD VC Fund to Close in 2026
What comes after Aksu. *(Note: "阿克苏之后的故事" literally means "the story after Aksu." If this refers to a specific title or context I'm missing — such as a book, film, or article — please provide more details and I can refine the translation.)*
Special Edition: North Slope Project
*The Signal and the Noise* Podcast Special Season
MaHui | Congratulations to MaHui Member Seeya Technology on STAR Market IPO, Becoming "China's First Domestic Silicon-Based OLED Stock"
Source Code Capital was one of the key investors in J&T Global Express's Series C round, providing continuous support throughout the company's growth.
MaKe | From Spring Festival Gala to NVIDIA GTC: Four MaHui Members Become "Global AI A-Listers"
Moonshot AI, Unitree, Galaxy Universal, Li Auto...
Peng Zhihui: The Most Robot-Like Human, Building Robots | BlueRun Ventures Family Headlines
Genius isn't a prerequisite for a career in robotics, but passion absolutely is.
What's the Best Form for an Investment Research Agent? AlphaEngine Offers a New Answer
How far can OpenClaw go in the investment research space?
九合创投王啸：具身智能狂热的终局，和早期投资的“模糊正确”｜九合分享
The Investment Philosophy Behind a Leading Embodied Artificial Intelligence Company
Code Moment | After Going Viral on Spring Festival Gala, Unitree Unveils Next-Generation Quadruped Robot
After its humanoid robots went viral for "practicing martial arts" at the Spring Festival Gala, Unitree has unveiled its first new robotic product: the quadruped robot Unitree As2.
Qiming Weekly: Top 10 Portfolio Company Updates, Vol. 06, Feb. 25, 2026
Staying with you through milestone moments for Qiming Venture Partners' portfolio companies
Hello, the Great Age of AI Entrepreneurship — Pony Ma, Yiming Zhang, and the Day 0 Moment of 21 People
The era rewards those who bravely take half a step forward through the fog of Day 0.
Source Code Capital Co-Leads Pre-A Round in 3D AI Chip Startup Suanmiao Tech, Which Raised Nearly 1 Billion Yuan Across Two Consecutive Rounds
Source Code Capital has invested in more than 20 companies across the AI industry chain.
An Underwater AI Chip Company Raises 1 Billion Yuan, Targeting Large Model Inference
Walking between two "hands."
Spring has arrived — can blossoms be far behind? | Linear Quarterly
Rather than waiting for spring, define it.
Every company in the embodied intelligence space could be solid — the key is whether they've figured out who they want to become | Linear Voice
The embodied data foundation needs to be at the scale of 10 million hours or more.
LimX Dynamics: Humanoid Robotics Innovation Leads the World | Vital Views
Achieving side-by-side collaboration with humans within 5 to 10 years
From Pi0.5 to LingBot-VLA: A Path to Embodied Intelligence Is Taking Shape
A VLA foundation model trained on 20,000 hours of real robot data, covering nine dual-arm configurations.
Independent Variable Robotics' Qian Wang: China will produce the world's top embodied AI company, aiming to be the OpenAI of embodied intelligence | Founders Talk
Lands the Year's Biggest Robot Funding Round to Date
Jinjian Zhang: In the Age of AI, Live as Yourself
"Long Action, Short Thinking"
Source Code Rhythm's Yungang Huang: From Gobi Desert Youth to Fund Captain
The rhythm moves because we believe the world has its own laws.
Yungang Huang, Source Code Rhythm: My Aksu
"West Lake is so beautiful, I want to jump right in."
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...
Omdia Report: AgiBot Tops Global Humanoid Robot Shipment Rankings | BlueRun Ventures Portfolio Headlines
Leading the way in global commercial deployment
What AI Actually Looked Like in 2025
22 real moments documenting how AI is used, loved, questioned, misunderstood, and depended upon in reality.
Where Did the Money Go? Who's Still Writing Checks? A 2025 VC Debrief With Jing Liu
VC takes a certain amount of instinct.
LatePost Interview with Sun Kuan: The Geek Who Failed Other Subjects, Death Anxiety, and the Birth of the First Consumer Exoskeleton | Oasis Vitality
"Starting a Company Cured My Fear of Death"
One Aims for the Skies, the Other Cares About Face: They're Redefining What You Think Robots Can Do | 5Y View
The humanoid robot race is getting crowded? They're looking for a different play.
The True Story of Huadong Wang
"He's the Haruki Murakami of China's investment world."
Vol.002 | A Conversation with Huadong Wang: Living a Haruki Murakami Life
Huadong Wang: I read 30 books this year. Here is my annual reading list | End of 2025
Diligence, distillation, execution.
Investing in 50 AI Companies a Year; What Was I Thinking When None of Us Knew the Answers? | A Conversation with Jie Yang: Founding Partner of Jinqiu Fund
The moment the wind picked up.
China as a Variable Reshaping the Global Innovation Landscape | Oasis Capital x BRIDGE Summit
Adviser Vitality
Leaving ByteDance to Go All-In on AI: Why Jinqiu Fund Isn't Called "Jie Yang's Jump" | AI Deadlock
Don't overgeneralize.
MaHui | Source Code Rhythm's Yungang Huang: Where Are the Next ByteDance and Unitree in the AI and Robotics Era?
How do you bridge the "last centimeter" between robots and real-world interaction?
Why Is It the "Hand" That Chokes the Robot?
Yan Han, Heart Capital | Future Core Assets: Global Market Opportunities from China's Tech Innovation | Heart Voice
The world is rethinking Chinese tech, and the narrative around it is being rewritten.
Source Code Capital closes new dual-currency growth fund at $600 million
Long-term support and companionship for the great enterprises of this era as they grow.
Four years after its last close, Source Code Capital has raised another fund.
Dual-currency, $600 million.
Monolith Raises $488 Million in New Funding
Assets under management exceed 10 billion RMB.
MaHui Entrepreneur | Sand.ai's Yue Cao: A Decade from Researcher to Entrepreneur Traces the Evolution of Large Models
"After starting my own business, suddenly everything just clicked."
Another VC Rebrands with a New Name
The twentieth year of local iteration.
Wang Qian, Invariant Robot: How Far Is Embodied Intelligence's Scaling Law? | Yunqi Capital Doers Series
Embodied Intelligence ≠ Stuffing DeepSeek into a Unitree Robot
Inside JD.com: Accelerating Commerce, Empowering Technology, and Building Industry Partnerships to Speed Robots into Millions of Homes | Ronghui
"Help 100 robotics brands achieve one-billion-yuan sales within three years."
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.
Heart Capital's Bingjian Wu: I Don't Ask AI Startups About Their "Endgame" | Xinsheng VOICE
Build a boat and wait for the tide to rise.
Rongbao | Multiple autonomous driving, nuclear fusion, gaming, and innovative drug companies raise hundreds of millions of RMB in funding
From commercial deployment to world-first breakthroughs, innovation never stands still.
Is AI the Decisive Factor for Embodied Intelligence? After Raising 300 Million in Six Months, How Is VBot's First Product Shaping Up? | A Conversation with Vbot Co-founder Zhe Lun Zhao
I want to make a product that I can bring home to my mom.
The AI Investment Mid-Game: Talent Wars, Faith Divides, and Super Opportunities
I notice you've entered a period/full stop (。) with no Chinese text to translate. Please provide the Chinese content you'd like me to translate, and I'll be happy to help.
Is AI the Decisive Factor in Embodied Intelligence? After Raising 300 Million in Six Months, How Is VBot's First Product Shaping Up? | A Conversation with Zhao Zhelun, Co-founder of Vitality Dynamics
Unitree, DJI, Fourier, Xiaomi… We Rounded Up 15 New AI Hardware Products for 2025
"The year of AI hardware" has come and gone, and the market remains the one and only ruthless arbiter.
Robot Confucius, robot dog-walking, robot folding laundry... The robots haven't found good jobs yet, but they're approaching their ChatGPT moment.
Is the tidying robot gently stepping into the "ChatGPT moment" on the eve of its arrival?
MaHui Entrepreneur | Xingxing Wang: The Biggest Barrier to Mass Humanoid Robot Deployment Is Embodied Artificial Intelligence
MaHui portfolio company Unitree founder and CEO Xingxing Wang shared his latest observations and insights on the global robotics industry at World Robot Conference 2025.
Noetix Robotics Hits 100M Yuan in Orders in Six Months, Closes Sixth Round in Two Years, Joins Humanoid Robot "Thousand-Unit Club" | Unity Ventures Portfolio News
Secured over 2,000 units in orders within six months, rising to the top tier of commercialization
A Conversation with Lingchu AI CEO Qibin Wang: On Robotics Technology Roadmap Choices, and the Key Breakthroughs for VLA Capabilities | BlueRun Ventures Family Headlines
Peng! Play Mahjong with a robot!
Qiming View: Technology Grows Upward, Applications Take Root Downward — Releasing the AI Resonance Cycle and Top 10 AI Predictions for 2025
This year, AI has entered a "resonance cycle of technology and application." On one hand, the technology continues to grow rapidly upward with no obvious ceiling in sight. On the other hand, it has become "good enough" in terms of performance and cost for large-scale deployment to take root and grow solidly, like tree roots digging deep — creating massive value in the process.
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
Are Model and 'Shell' Values Both Underestimated? ZhenFund's Yusen Dai's Mid-2025 AI Review
In 2025, the "Sedol moment" for industries far and wide is only just beginning.
When the investors of Ning Wang, Xingxing Wang, and Junjie Zhang sat down together
What makes a "newly made person" new?
Starting from Five Investments in Manus's Red Xiao: A Conversation with ZhenFund Partner Yuan Liu on How His Read of People Has Evolved
I think the market is at its best right now.
The Wind Still Howls Where No One Stands | Monolith Monthly
Every step is worth recording.
Starting with Five Investments in Manus Founder Red Xiao: A Conversation with ZhenFund Partner Yuan Liu on How Reading People Evolves
A Conversation with Hangzhou Capital's Sun Gangfeng: The Key to Patient Capital Is Attitude, Not Time
The Unvarnished Truth from the Hottest State-Backed Fund of the Year
2025: Has Embodied Intelligence Reached Its "ChatGPT Moment"? | FreeS Research
The "Triangular Game" of Embodied Intelligence: Success Rate, Generality, and Cost
Xi Cao of Monolith Named to Forbes 2025 Midas List
First-time appearance on the list thanks to early-stage investments in Kuaishou and Unitree
Yunqi Capital's Chengyu Mao in Conversation with SenseTime's Xu Li: 2025 — Is AI Entrepreneurship Getting Harder?
Run with a marathoner's mindset — just keep going.
Psi R1 from Lingchu AI Becomes First Embodied Intelligence Model to Achieve Vision-Language-Action Multimodal Coordination | BlueRun Ventures Portfolio Spotlight
Accelerating the Deployment of Embodied Robots in High-Value Scenarios
Linear Capital Portfolio Company Rokid Founder Misa Zhu Interview: The AI Glasses Battleground Is Only in China
The Springtime of an 11-Year-Old Company
After Allen Zhu's "Wake-Up Call," We Surveyed the Survival Status of 10 Leading Humanoid Robot Companies
Pessimists are often right, but optimists are the ones who succeed.
AgiBot's Chief Scientist: "The Biggest Misunderstanding of Embodied AI Is Treating It Like a Large Language Model" | BlueRun Ventures Family Headline
Now is the best time to enter embodied AI.
A Conversation with Rokid's Misa Zhu: The AI Glasses Battleground Is China Alone
The Spring of an 11-Year-Old Company
A Conversation with Zhiyuan's Chief Scientist: Calling Embodied Intelligence "the Next LLM" Is Its Biggest Misunderstanding
Necessary froth.
An Exhibition Revisiting 30 Years of Chinese Venture Capital | WAVE's Third Anniversary
The great schools of fish have returned.
Alphaist: A Dollar-Denominated Fund Born in 2025, and Its Ten-Year Bet
Find the founders who create something out of nothing, who insist on pushing through when the odds are against them.
Post-95s Founders Lead the GenAI Application Revolution: A Look at 2024's New American Unicorns
In the US, more than half of the new AI unicorns are application companies.
"LimX Dynamics' Wei Zhang: Humanoid Robots Won't Enter Factories, Embodied AI Won't Hoard Real-Robot Data" | Oasis Vitality
Counselor Vitality
MaHui Entrepreneur Xingxing Wang: With Enough Focus, I Don't Believe There's Any Problem That Can't Be Solved
The Youngest Person at That Symposium
Butterflies, OCD, and Robots.
From Selling Robot Vacuums to Billions, a Post-'95 Entrepreneur Enters the AI Hardware Race | Z Talk
"Being number one" is the most efficient management tool.
When Post-'90s Founders Cluster Into the Unicorn Club: A Look at China's New Unicorns in 2024
Forty-four companies made the list, with hard tech taking center stage.
Code Moment | Code Gather Members Make a Collective Appearance at CES, Showcasing Tech Innovation Power
Make business smarter, make life better.
MaHui Members Make Zero2IPO's 2024 VENTURE50 List
To AI Founders: In 2025, Go to These VCs for Funding | Debriefing a Year in Primary Markets with Jing Liu of "Waves"
"2024: Who's Still Actively Investing in AI?"
To AI Founders: In 2025, Go to These VCs for Funding | A Year-in-Review of the Primary Market with "An Yong" and Jing Liu
Galaxy Universal Raises 500 Million Yuan in Strategic Funding Round | BlueRun Ventures Headlines
Embodied Intelligence Powers a New Future for General-Purpose Robotics
Code View | Booster Robotics: When the Starting Gun Fires, Stand Shoulder to Shoulder with the Robotics Giants
The Most RMB-Denominated Singapore-Based Fund Raises Over 3.5 Billion Yuan丨Making Its Move
Focused on early-stage deep tech investments.
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?
ChatGPT Mac App Arrives | DingTalk to Open Up to All AI Large Model Vendors | Groq Valued at $2.5 Billion in New Funding Round
The power of intelligence comes from human complexity, not from a single, perfect principle.
Looking Back at AI's "May": The Five Most Important Little Things | Attent!on Tech Notes
The future is already here — it's just not evenly distributed.
Sam Gao and Xiaoyu Ma of Gaorong Capital: AI + Hardware, China's Opportunity in a World of Upheaval
You can't just gild the lily on the giants' extensions.
A Globalization Guide for Chinese Founders: Slicing the World Horizontally
The word "globalization" — so brief, yet it encompasses so many narratives.
Code Moment | Unitree Raises Nearly 1 Billion RMB to Advance Technology for Global Progress
MaHui | How Investors View CES in the United States
Baidu Ventures' Gao Xue: Nothing Stays the Same — That's the Destiny of AI Investing
You never know what tomorrow will bring.
Entrepreneurship is a climb where the journey itself is the reward.
The journey is the reward.
Monolith's Xi Cao and His Eleven Musketeers
Starting a business is like climbing a mountain — the meaning lies in the climb itself.
Hongshan Seed Deploys Another $480 Million, Early-Stage Investing Is About to Get Even More Crowded
What Should Seed Investing Look Like in a New Cycle?
