Yushu Technology has completed the delivery of Series C financing, led by the Funds under China Mobile, Tencent, Jinqiu, Alibaba, Ant Group, and Geely Capital.
Yushu Technology has secured financing.
According to multiple sources confirmed by the Star Daily reporter, Yushu recently completed the delivery of Series C financing, which began at the end of last year, led by Funds under Mobile, Tencent, Jinqiu, Alibaba, Ant Group, and Geely Capital, with most of the old Shareholders also participating.
Business registration information shows that Yushu Technology has completed 9 rounds of financing. In February 2024, it secured nearly 1 billion yuan in Series B2 financing, with participants including Shenzhen Capital Group, China National Investment, Rongyi Investment, Jingsui Capital, Source Code Capital, Meituan Strategic Investment Department, CITIC Jinshi, Borui Zhilian, and Junshi Venture Capital.
On May 29, Yushu Technology issued a notice to its partners stating that due to the needs of company development, Yushu Technology will change its name to Hangzhou Yushu Technology Co., Ltd. effective immediately. At that time, all business of the original company will continue to be operated under the 'new company name,' and all contracts signed by the original company will remain valid. This means Yushu Technology has completed its transformation into a joint-stock company, also sparking speculation about whether it will advance its IPO listing.
During the Spring Festival Gala in 2025, Yushu Technology's humanoid robot H1 appeared on stage during a dance performance, becoming one of the most eye-catching acts of the evening, further making Yushu Technology a focal point in the industry.
At the recent Beijing Zhiyuan Conference, Yushu Technology CEO Wang Xingxing stated that whether it’s the Spring Festival Gala in January or the recent fighting competition, the goal is to showcase the current stage of robot development to the public and generate some commercial value. For instance, the humanoid robot rental market was particularly booming in the first half of the year.
According to the Star Daily reporter, humanoid robots are mainly deployed in areas such as exhibition guidance and educational research, and there is still a long way to go to truly reach the C-end market and achieve large-scale consumer applications. Wang Xingxing also admitted that it’s still unrealistic to have robots work at home directly, but through training in activities like dancing and fighting, robots are gradually learning various full-body movements, with the ultimate goal of liberating human productivity.
Wang Xingxing also stated that Yushu Technology's product development is not limited to humanoid Robotics, but currently AI mainly relies on human data collection, so humanoid robots will be easier to train and implement. It is believed that once AGI (Artificial General Intelligence) truly arrives, the forms of Robotics will be more diverse.
At the end of May, Yushu Technology released a product poster preview, indicating that the company is about to launch a humanoid robot with 26 degrees of freedom. The price of the new product has not been announced yet, but the price given on the poster is "$?000", which may hint that the price is in the thousands of dollars.
Previously, Yushu Technology has released two humanoid Robotics, named H1 and G1. Among them, G1 attracted widespread attention both inside and outside the industry due to its extremely low price of 0.099 million yuan. Based on current Exchange Rates, if the price is in the four-digit dollar range, then the new product Yushu Technology is about to launch is expected to be priced lower than G1.
This article is reprinted from Caixin and edited by Zhitong Finance: Chen Wenfang.
