温馨提示 ： 点击下方图片，查看运营团队6月最新原创报告（共235页） 说明： 欢迎约稿、刊例合作、行业交流 ， 行业交流记得先加入 知识星球"机器人头条" ，后添加（ 微信号：lietou100w ）微 信； 若有侵权、改稿请联系编辑运营（微信：li_sir_2020）； 正文： 梅开三度， 国内领先具身智能机器人企业【跨维智能】 完成数亿元A1、A2轮系列融资 ！ 2 025年7月10日，通用具身智能技术研发公司 【 跨维（深圳）智能数字科技有限公司 】（以下简称"跨维智 能"）完成数亿元A1、A2轮融资，本轮融资由成都科创投、洪泰基金领投， 天鹰资本、四川院士基金、南山战新 投、一村资本、探元创投 等知名机构跟投， 老股东联想创投等持续加码；本轮融资后，公司将进一步加大在技 术研发与产品创新方面的投入。 据企查查显示，公司于2025年1月16日完成 由汇芯投资独投 新一轮Pre-A+轮融资，该 轮融资未官宣， 具体融资 金额企业未披露；针对A1、A2系列融资，公司曾于 2月21日有发生工商变更，新增股东 天鹰资本（持股 5.1724%）。 | 融资历程 7 | | | | | | 〔 导出数据, 联系商 ...

温馨提示 ： 点击下方图片，查看运营团队6月最新原创报告（共235页） 说明： 欢迎约稿、刊例合作、行业交流 ， 行业交流记得先加入 知识星球"机器人头条" ，后添加（ 微信号：lietou100w ）微信； 若有 侵权、改稿请联系编辑运营（微信：li_sir_2020）； 正文： 7月份国内人形机器人市场迎来梦幻开局，两句话概括： 1）国内具身智能领域创企大额融资资讯" 轰炸 "行业圈！2） 二级市场机器人板块"起飞"！ 融资情况： 7月份大额融资：[ 星动纪元 ]完成5亿元A轮融资、[云深处]完成近5亿元新一轮融资、[ 它石智航 ]完成1.22亿美元天使+ 轮融资、[ 星海图 ]完成超1亿美元A4、A5轮系列融资、[ 跨维智能 ]完成数亿元A1、A2轮、[ 智元机器人 ]新一轮融资等 等，其中它石智航、星海图正式晋升具身智能赛道独角兽阵营。 二级市场： 海外算力持续超预期，AI应用情绪延伸， AI板块现阶段已成为市场焦点，而二级市场似乎存在共识，既"每一轮机器人 大行情紧跟AI "；目前来看， 机器人板块在七月份迎来高涨行情，关注股市的朋友肯定深有体会。 7月份二级市场有两大热门事件：1）[智元机器人]收 ...

Core Viewpoint - The article discusses the recent financing round of Beijing Xiaoyu Zhizao Technology Co., Ltd. (Xiaoyu Zhizao), a startup focused on embodied intelligence and general-purpose robotics, highlighting its strategic partnerships and the growing interest from major tech companies in the field of embodied intelligence [3][6][10]. Financing and Investment - Xiaoyu Zhizao completed approximately 100 million yuan in its A+ round of financing, led by Didi, marking Didi's first investment in the embodied intelligence sector [3][6]. - The company has completed four rounds of financing, with previous rounds involving investments from Xiaomi Group, Yari Capital, and others, indicating strong backing from notable investors [5][10]. - Didi's entry into the sector follows investments from other major players like Huawei, Tencent, and JD, reflecting a trend of tech giants investing in embodied intelligence [6][7]. Company Overview - Founded in January 2023, Xiaoyu Zhizao specializes in developing large model robotics technology for industrial applications, aiming to create a "general brain" for robots that can adapt to various tasks [10][15]. - The founding team includes former Xiaomi members with extensive experience in software and hardware development, enhancing the company's technological capabilities [11][13]. Product Development - Xiaoyu Zhizao has developed the "Xiaoyu Brain," a general-purpose robotic brain that enables robots to self-learn and optimize their performance over time [14][15]. - The company has established strategic partnerships with industry leaders, including a significant order for 100 welding robots from a major heavy machinery company, indicating strong commercial traction [17][18]. Industry Trends - The article notes that over 200 companies globally are entering the embodied intelligence field, with a mix of startups focusing on either large model development or humanoid robotics [19]. - The shift in investment focus from hardware to software capabilities is emphasized, as software advancements are seen as crucial for overcoming commercialization barriers in humanoid robotics [20][21].

Core Viewpoint - The article discusses the recent strategic investment in Shanghai Zhiyuan New Technology Co., Ltd. (Zhiyuan Robot) by Charoen Pokphand Group, highlighting the company's ongoing financing rounds and its strategic direction in the humanoid robot industry [1][2]. Financing Overview - Zhiyuan Robot has completed a total of 11 financing rounds, with the latest investment from Charoen Pokphand Group following previous rounds led by Tencent and JD.com [1][2]. - The company has raised significant amounts in various rounds, including over 600 million yuan in the A++++ round and an estimated 15 billion yuan in the B round [3]. Strategic Acquisition - Zhiyuan Robot acquired a 66.99% stake in the listed company Shuangwei New Materials for approximately 2.1 billion yuan, marking a significant move in its growth strategy [4]. - Following the acquisition, Shuangwei New Materials' market value surged from 3.138 billion yuan to 9.3741 billion yuan, indicating strong market confidence in the acquisition [5]. Business Model and Market Position - The company employs a strategy focused on technology-driven development, order-driven growth, and ecosystem co-construction, positioning itself as a leader in the humanoid robot sector [9][10]. - Zhiyuan Robot aims to achieve approximately 1 billion yuan in revenue for 2024, with expectations of several billion yuan in revenue for the current year [11]. Ecosystem and Collaborations - The company has established various partnerships and joint ventures with over 30 listed companies, enhancing its capabilities in the humanoid robot market [12]. - Recent contracts include a significant order from China Mobile for humanoid biped robots, valued at 78 million yuan [11]. Market Outlook and Challenges - Despite the positive developments, the article notes that the commercialization of humanoid robots remains challenging, with many companies still in the proof-of-concept stage [13]. - The competitive landscape is intensifying, and while Zhiyuan Robot has made significant strides, the long-term sustainability of its business model and technology remains to be seen [13][14].

Core Insights - The global humanoid robot market is experiencing significant growth, with nearly 20 billion in financing and a market potential exceeding one trillion by 2025 [3][4] - The domestic market in China is particularly vibrant, with substantial investments and a strong start in the second half of 2025, despite challenges faced by major players like Tesla [4][6] - Notable financing events include the acquisition of a publicly listed company by Zhiyuan Robotics, marking a strategic move in the industry [7][9] Financing Overview - In the first half of 2025, the global humanoid robot sector saw nearly 20 billion in disclosed financing, with significant contributions from various companies [4][5] - Key financing events included Neura Robotics raising 120 million euros and Fourier Intelligence securing nearly 800 million yuan [4] - July 2025 saw continued momentum with several companies, including Xinghai Map and Itashizhihang, raising substantial funds, further solidifying their positions in the market [6] Strategic Moves - Zhiyuan Robotics successfully acquired 66.99% of the shares of Shangwei New Materials for approximately 2.1 billion, enhancing its market presence [7] - The acquisition led to a significant increase in Shangwei's market value, demonstrating the positive market reaction to strategic consolidations in the sector [7][9] - The competitive landscape is intensifying, with major players like Zhiyuan and Yushutec vying for dominance in the humanoid robot market [16][17] Market Trends - The humanoid robot industry is characterized by a long-term growth outlook, with increasing interest from major tech companies and a focus on achieving effective applications in real-world scenarios [17][18] - Despite the promising market, challenges remain in achieving mass production and true commercialization of humanoid robots [16][17] - The industry is witnessing a trend of strategic partnerships and collaborations aimed at enhancing technological capabilities and market reach [11][12]

Core Viewpoint - The recent developments surrounding Tesla's Optimus robot, including order cuts and leadership changes, have led to significant fluctuations in the robotics sector, particularly affecting T-chain concept stocks. However, these changes are seen as necessary adjustments for the future success of the Optimus project, paving the way for the upcoming Optimus V3 model [1][2]. Group 1: Market Reactions - On June 19, news of order cuts for Tesla's Optimus robot supplier caused a decline in the robotics sector, with T-chain concept stocks experiencing significant drops [1]. - Following the confirmation of the order cuts and the postponement of mass production plans, T-chain stocks like Zhejiang Rongtai (603119.SH) hit their daily limit down, while others like Beite Technology and Sanhua Intelligent Control fell over 4% [1]. - Despite a general recovery in the robotics sector on June 23, T-chain stocks continued to decline, indicating ongoing market concerns [1]. Group 2: Project Developments - The Optimus project is undergoing a redesign of its hardware and software, with a short-term reduction in delivery volumes anticipated. However, the project's importance remains unchanged as it aims for a more robust and reliable next-generation product [2]. - Milan Kovac, the original project leader for Optimus, has left the team, likely due to the need for a new direction in technology development [2]. - Elon Musk announced on June 25 that Optimus V3 will integrate the Grok voice assistant, utilizing AI language models for interaction, indicating a significant technological advancement [3]. Group 3: Future Prospects - On July 10, during the xAI launch, Musk reiterated that Grok 4 will be integrated into Tesla's Optimus, aiming for a real-world reinforcement learning loop by the end of the year [5]. - Recent orders for over 100 units of the Optimus robot were reported, suggesting that hardware redesigns are progressing well [6]. - Musk expressed confidence in the latest developments of Optimus, stating that the upcoming demonstrations will be the most impressive to date [6]. Group 4: Industry Dynamics - The T-chain concept stocks have shown positive momentum recently, with several companies releasing favorable news [8]. - The market is closely watching the upcoming Tesla quarterly meeting on July 24 and the shareholder meeting on November 6 for further insights into the Optimus project and its supply chain [9]. - The acquisition of the Sci-Tech Innovation Board listed company by Zhiyuan Robotics has led to a significant increase in market capitalization, highlighting the growing interest in humanoid robotics [9].

Core Viewpoint - The article highlights the significant funding achievements of the domestic intelligent robotics startup "Xinghaitu," which has completed over $100 million in Series A4 and A5 financing rounds, and is currently valued at $1 billion for a new round of financing [1][2][4]. Financing History - Xinghaitu has completed five rounds of Series A financing in 2025, with a total financing amount exceeding 1.5 billion yuan (approximately $215 million) [2][3]. - The A4 round raised over $100 million, led by Today Capital and Meituan Longzhu, with participation from several other notable investors [1][3]. - The A2 and A3 rounds, completed earlier in 2025, raised over 300 million yuan (approximately $43 million) [2][3]. Company Overview - Xinghaitu, officially known as "Xinghaitu (Beijing) Artificial Intelligence Technology Co., Ltd.," was established in September 2023 and focuses on developing "one brain, multiple forms" embodied intelligent robots [6]. - The company employs a full-stack self-research approach, covering everything from the physical body to end-to-end algorithms and scene implementation solutions [6]. Founding Team - The founding team is described as one of the strongest in the industry, with backgrounds in top autonomous driving companies and academic positions at Tsinghua University [7][20]. - Key members include the CEO Gao Jiyang, who has a PhD in computer vision and experience at Waymo, and co-founders Zhao Xing and Xu Huazhe, both of whom have significant academic and industry experience [8][20]. Core Technology and Products - Xinghaitu's strategy involves simultaneous development of hardware and AI capabilities, focusing on a dual-system model architecture that integrates visual language models (VLM) and action models (VLA) [10][18]. - The company has developed several products, including the X1 chassis, A1 lightweight robotic arm, and R1 series humanoid robots, which are primarily targeted at research scenarios [9][15][17]. Market Position and Trends - The article notes a trend of major tech companies, including Meituan, Alibaba, and Tencent, increasing their investments in the embodied intelligence sector, indicating a growing interest in this field [4][5][20]. - Xinghaitu's approach of integrating strong AI capabilities with hardware development positions it favorably in the competitive landscape of humanoid robotics [18][20].

Core Insights - The article discusses the contrasting fortunes of two humanoid robot companies, Ubiquity Robotics and Zhiyuan Robotics, highlighting Ubiquity's struggles in meeting production targets and declining stock performance [2][3][10]. - It emphasizes the competitive landscape of the humanoid robot market, where newer entrants like Yushutech are gaining traction while Ubiquity is lagging behind [7][16]. Summary by Sections Ubiquity Robotics - Ubiquity Robotics has faced significant downgrades in projected shipment volumes for 2025 and 2026, with estimates reduced from 500 to 300 units [2]. - The delays in product delivery, particularly the Walker S1 robots, have raised concerns about the company's operational capabilities [2]. - Ubiquity's stock has seen a dramatic decline from a peak of 328 HKD to 77.1 HKD, indicating a loss of investor confidence [3]. Zhiyuan Robotics - Zhiyuan Robotics has successfully completed a significant acquisition, obtaining 66.99% of the shares of Shangwei New Materials for approximately 2.1 billion CNY, which has positively impacted its market perception [10]. - The company is leveraging a "high-profile" development strategy, focusing on extensive partnerships and investments across the humanoid robotics supply chain [13]. - Zhiyuan's ecosystem includes over 30 listed companies and nearly 10 non-listed companies, showcasing a robust network in the industry [13]. Market Dynamics - The humanoid robot market is becoming increasingly competitive, with companies like Yushutech and Zhiyuan Robotics making substantial gains while Ubiquity struggles [7][16]. - The article notes that the core supply chain companies are expected to benefit from the ongoing humanoid robot trend, as highlighted in reports from Morgan Stanley and Goldman Sachs [8]. - The overall sentiment in the market is cautious, with many companies facing challenges in achieving commercial viability and scaling their operations [16].

Core Viewpoint - The article discusses the rising prominence of humanoid robots, particularly focusing on the supply chains associated with leading companies like Yushu Technology, Tesla, and Huawei, and highlights the investment opportunities and market dynamics surrounding these developments [1][2]. Group 1: Humanoid Robot Supply Chains - Yushu Technology's humanoid robot H1 gained significant attention after its appearance on the Spring Festival Gala, leading to the emergence of the "Yushu Chain" alongside Tesla's "T Chain" and Huawei's "H Chain" as the three core supply chains in the humanoid robot sector [1]. - The article notes that companies involved in the upstream core components of humanoid robots have seen substantial stock price increases, reflecting the market's enthusiasm for this technology [1]. Group 2: Market Reactions and Events - Following news of order cuts from Tesla's Optimus robot suppliers, the entire robotics sector experienced a downturn, with significant declines in T Chain-related stocks, indicating the influence of leading companies on the supply chain [3][4]. - Conversely, a positive event occurred when Zhi Yuan Robotics acquired a majority stake in Shangwei New Materials for approximately 2.1 billion yuan, leading to a surge in stock prices for related companies [4][5]. Group 3: Zhi Yuan Robotics' Strategy - Zhi Yuan Robotics has adopted a "high-profile" development model, leveraging a wide network of partnerships and investments across nearly 40 companies, positioning itself as a major player in the humanoid robot market [7][8]. - The company has completed multiple funding rounds, achieving a valuation of approximately 15 billion yuan, making it a leading startup in the field of embodied intelligence [8]. Group 4: Investment and Collaboration - Zhi Yuan Robotics has established a comprehensive ecosystem through joint ventures, investments, and collaborations with over 30 listed companies, enhancing its capabilities in the humanoid robot sector [11][12]. - The company has invested in several upstream and downstream robotics firms, focusing on various aspects such as tactile perception and humanoid robot development [12][13]. Group 5: Future Outlook - The article speculates on whether Zhi Yuan Chain could potentially rival Yushu Chain, suggesting that the dynamics of the humanoid robot supply chains may evolve as new players emerge [7][8]. - The ongoing developments in the humanoid robot sector, including partnerships and technological advancements, indicate a rapidly changing landscape with significant investment potential [20].

Core Viewpoint - The article highlights the rapid success of TARS, a startup in the embodied intelligence robotics sector, which has raised a total of $242 million (approximately 1.736 billion yuan) in just five months, setting a record for angel round financing in this field in China [1][2]. Financing and Investment - TARS completed its first angel round financing of $120 million on March 25, followed by an additional $122 million in the angel+ round on July 8, led by Meituan's strategic investment [1][2]. - The total financing of $242 million surpasses the previous record held by Galaxy General, which raised 1.2 billion yuan in its angel round [2]. - Meituan's investment in this round is estimated to be between 300 million to 400 million yuan, indicating a strong interest from major tech companies in the embodied intelligence sector [4]. Company Background and Team - TARS was established in July 2024 and is driven by an AI-powered embodied intelligence technology focus, with a core team comprising individuals from prestigious backgrounds including Huawei, Tsinghua University, and Fudan University [5][6]. - The founding team includes experts with significant experience in autonomous driving and academia, such as CEO Chen Yilun, who has a strong background in intelligent systems and has previously worked at Huawei and DJI [6][7][8]. Product and Technology - TARS aims to develop a comprehensive technology stack that includes a human-centric embodied digital engine and a full-stack approach to both software and hardware, focusing on the development of intelligent software capabilities and hardware systems [2][11]. - The company is working on a unique integrated embodied large model, AWE (AI World Engine), which aims to create a data-driven, generalized intelligent system for the physical world [12]. Market Dynamics - The embodied intelligence sector is witnessing a surge in interest, with numerous tech giants and automotive companies entering the market, leading to a competitive landscape [13][14]. - The article notes that many startups in this field are struggling with commercialization and scaling production, despite initial funding successes [16]. Future Outlook - TARS is positioned as a key player in the embodied intelligence market, with its dual focus on large models and humanoid robot development, which aligns with current investment trends favoring companies with strong AI capabilities [14][15]. - The article suggests that the long-term prospects for humanoid robotics are promising, but challenges remain in achieving effective application and mass production [15][16].