Unitree Robotics confirmed plans to file for an initial public offering later this year. The IPO could value the Hangzhou-based company at up to 50 billion yuan (approximately $7 billion), which would make it one of the largest and most highly anticipated IPOs in China this year. It is unclear if the listing would be in Shanghai, Beijing, or Shenzhen.
Unitree Robotics was founded in 2016 by Wang Xingxing, a robotics engineer whose early work focused on developing affordable and agile legged robots, starting with the XDog prototype during his graduate studies at Shanghai University. The company quickly gained attention for its quadruped robots and its stated goal to offer advanced robotics at a fraction of the cost of Western competitors.
Looking ahead, by 2026, Unitree expects a significant leap in humanoid robot performance, especially in perception, comprehension, and ability to perform useful tasks. The goal is for general-purpose robots that can serve across domains, not just in demonstrations or limited scenarios.
Unitree Robotics’ largest shareholder is founder Wang Xingxing. Meituan (OTCPK:MPNGF) is the second-largest shareholder with approximately 8.24%. Notable investors also include the state-owned Beijing Robot Industry Fund and Shoucheng Holdings. Tencent (OTCPK:TCEHY), Alibaba (BABA), ByteDance (BDNCE), Ant Group, Geely (OTCPK:GELYF), and China Mobile all participated in the most recent Series C round as key investors. Notably, Unitree Robotics began the early process for a potential initial public offering in China earlier this year.
Related humanoid robotics ETFs: Roundhill Humanoid Robotics ETF (BATS:HUMN), KraneShares Global Humanoid & Embodied Intelligence Index ETF (NASDAQ:KOID), Themes Humanoid Robotics ETF (BOTT), Global X Robotics & Artificial Intelligence ETF (BOTZ), and ROBO Global Robotics & Automation Index ETF (NYSEARCA:ROBO).