人形机器人炫技热潮过后，投资人开始考核创业公司商业化

Group 1 - The core viewpoint is that the robotics startup landscape is maturing, with entrepreneurs focusing on commercial viability and investors becoming more discerning in their evaluations [2] - Commercialization capability has become a key decision-making criterion for investors, shifting from a focus on team and technology to include mass production and delivery capabilities [2] - The industry is witnessing a concentration of resources towards leading companies, with higher standards for startups, making it difficult for projects focused solely on robotic joints to secure funding [2] Group 2 - Approximately half of current robotics entrepreneurs come from the automotive sector, with around 25% from academia and the remaining 25% from major internet companies [3] - There is a strong synergy between the fields of embodied intelligence and automotive, particularly in supply chains and technology reuse, which attracts capital to those with backgrounds in autonomous driving [3] - A significant portion of components in humanoid robots, such as batteries and sensors, are shared with electric vehicles, indicating a close relationship between the two industries [3]