衡宇 发自 凹非寺 量子位 | 公众号 QbitAI 朋友，你相信光吗？ 在你正式做出回答之前，AI玩具领域已经用行动告诉我们：有人依然相信。 全球首款 迪迦奥特曼AI玩具 正式发售，国产的。 长这样： （没错，最左边背对咱们的是同期发售的赛罗hhh） 就在大家都盯着具身智能、AI眼镜赛道的时候，一位阿里前天猫精灵老兵，选择了一条看起来没那么性感的赛道——AI毛绒玩具。 公司跃然创新，又名Havivi ，一家基于AIGC技术的玩具公司，视玩具为人类从天性出发的最伟大的发明 （没有之一）。 把玩具视为AIGC最佳普及商业机遇的同时，跃然创新又瞧准了中国智能制造的优势。 奥特曼AI玩具是他们刚刚推出的第二款产品。 伴随着这个消息公布的，还有该公司 宣布完成2亿元A轮系列融资 ， 中金资本旗下基金、 红杉中国种子基金 、华山资本等参与领投，资金 将用于公司系列新品的研发、人才梯队建设以及市场渠道拓展。 回顾往昔，跃然创新的第一发产品和迪迦AI玩具迥乎不同： 没有IP加持，没有可爱的外表，没有毛茸茸的手感，甚至不能全天候待机，需要长按进行对话。 但 那款BubblePal从去年6月发售至今，已经卖出了20多万台，成为 ...

出品 | 36氪未来消费（微信ID：lslb168） 离你更近的消费创投一线。 编辑 | 王毓婵 头图 | IC Photo Busy Money TOP TOY获淡马锡投资，投后估值100亿港元 TOP TOY是一家潮玩新独立品牌，产品覆盖盲盒、艺术潮玩、日漫手办、美漫手办、娃娃模型、拼装模型、积木等七大核心品类。同时，TOP TOY持续 推出自研与独家产品，实现IP产品差异化。近日，潮玩品牌TOP TOY也收获来自全球投资机构淡马锡领投的最新融资，投后估值达到约100亿港元。 Haivivi跃然创新获得A+轮融资，中金资本投资 Haivivi跃然创新是一家基于智能技术的儿童益智玩具品牌，公司致力于通过现代科技技术打造与众不同的玩具体验，陪伴孩子能在全新的体验中更好的 成长，旗下产品有AIGC 玩具 BubblePal等。近日，Haivivi跃然创新获得A+轮融资，中金资本投资。 Turing Market获得近千万元投资 Turing Market是一家网红营销AI智能体研发商，自主研发推出了全球首个按结果付费的海外红人营销智能体，彻底颠覆了传统网红营销的模式。愿景是 通过先进的AI技术，让海外网红营销更 ...

Core Viewpoint - The AI toy market is experiencing significant growth, driven by a surge of new companies entering the space, focusing on emotional value and user engagement rather than just technological capabilities [6][8][21] Group 1: Market Dynamics - The AI toy sector has seen over 30 emerging companies, with products designed to cater to both children and adults, reflecting a diverse range of user needs [6][8] - The market is characterized by a low entry barrier for consumers, allowing for a variety of products that fulfill different emotional and psychological needs [8][20] - The success of AI toys will depend on achieving significant sales volumes, with a benchmark of 100,000 units being crucial for establishing a product as a market leader [8][19] Group 2: Key Players and Products - Notable companies include Mengyou Intelligent, which launched the Ropet AI toy, and Luobo Intelligent, which introduced the Fuzozo, both targeting female consumers [6][12] - Ropet has achieved significant crowdfunding success in Japan, raising 26 million yen on its first day, while Fuzozo has gained traction in China through effective marketing strategies [12][13] - The products differ in their interaction capabilities, with Fuzozo utilizing a multimodal model for language interaction, while Ropet focuses on non-verbal responses to enhance user experience [13][14] Group 3: Consumer Insights - The primary purchasing motivation for consumers is the aesthetic appeal of the toys, particularly among female users, indicating a strong link between product design and consumer engagement [14][20] - The emotional value created by AI toys is paramount, with companies exploring various approaches to meet the emotional and psychological needs of users [20][21] - The market is still evolving, with opportunities for new entrants to address unmet needs, particularly in areas like mental health and emotional support [20][21] Group 4: Future Trends - The AI toy industry is expected to continue diversifying, with products aimed at both emotional companionship and practical applications in mental health [20][21] - Companies are leveraging advanced AI technologies to enhance user interaction and product functionality, which will be critical for long-term success [19][20] - The competition is intensifying as larger companies like Pop Mart enter the market, potentially reshaping the landscape of AI toys [8][21]

Core Viewpoint - The article discusses the launch of "Artificial Productivity," an AI hardware company that has completed a multi-million dollar seed round of financing and aims to innovate in the children's toy market by leveraging advanced AI technology to enhance interactivity and engagement [6][8]. Group 1: Company Overview - "Artificial Productivity" was founded in 2024 by former chief scientist of Fourth Paradigm, Tu Weiwei, and has developed its first AI companion robot, the Panda Robot, which is set to be launched next month [6]. - The company has secured funding from notable investors including Amiba Capital, SenseTime Guoxiang Capital, and Fourth Paradigm Fund, with Yuanhe Capital acting as the exclusive financial advisor [6]. Group 2: Market Context - The global toy industry is facing structural challenges, with the traditional toy market nearing 1 trillion yuan in 2024, while leading companies are experiencing growth pressures [7]. - Video games are rapidly capturing children's attention, with daily active users of games like NetEase's "Egg Party" peaking over 50 million, of which over 70% are minors [7]. Group 3: Product Innovation - "Artificial Productivity" aims to address the growth challenges in the traditional toy industry by utilizing large model technology to revolutionize human-machine interaction, moving beyond traditional remote-controlled toys [7][8]. - The Panda Robot has been tested in children's malls, revealing that its most popular features—rock-paper-scissors and action imitation—can keep children engaged for over two hours, with a replay rate exceeding 80% [7]. Group 4: Technology and Features - The core technology of the AI Agent's autonomous decision-making capability is crucial for delivering personalized experiences to children [8]. - The company has developed the "Artificial Productivity" Autonomous Hardware Platform, which includes multi-modal interaction, user behavior prediction, and decision-making capabilities based on user feedback [8][10]. Group 5: Competitive Advantage - The product pricing is competitive, with some models priced in the double-digit range, while maintaining a focus on fun and engagement [10]. - The company collaborates with top IPs to integrate content into the AI toy system, allowing for diverse gameplay experiences [10]. Group 6: Distribution Strategy - Unlike many AI toy companies that focus solely on online sales, "Artificial Productivity" has partnered with a wide range of online and offline channels, including e-commerce platforms, Douyin, and retail stores, to maximize consumer reach [11]. Group 7: Team Background - The founder, Tu Weiwei, holds a PhD from Nanjing University and has extensive experience in AI technology development, having previously worked at leading companies such as Baidu and Fourth Paradigm [11]. - The core R&D team comprises members from top universities and has experience in software and hardware development across various leading firms [11].

Core Viewpoint - The company Tom Cat is focusing on the AI toy sector, launching AI companion robots based on its own IP, which are significantly more expensive than traditional products, indicating a strategic shift towards high-margin offerings [1] Company Overview - As of August 4, 2025, Tom Cat's stock price is 5.68 yuan, down 0.02 yuan or 0.35% from the previous trading day [1] - The company operates in the mobile internet cultural industry, with main products including the "Talking Tom Cat Family" series of mobile applications, animated films, and related derivatives [1] AI Toy Sector - Tom Cat has recently made significant moves in the AI toy market, launching an AI companion robot priced at 1799 yuan, which is 26 times the price of ordinary story machines [1] - The company's AI toy products have topped category rankings on platforms like Douyin and Xiaohongshu, attracting considerable attention from channel merchants [1] - The gross profit margin in the AI toy industry is reported to be between 70% and 80%, with some products exceeding 90% [1] Financial Performance - On August 4, 2025, the net outflow of main funds was 67.27 million yuan, accounting for 0.36% of the circulating market value [1] - Over the past five days, the main funds have shown a net inflow of 14.40 million yuan, representing 0.08% of the circulating market value [1]

Core Viewpoint - The white paper discusses the AI toy industry, covering its current development status, consumer insights, technological support, best practices, and future trends. It highlights the rapid growth of the AI toy market, driven by favorable government policies and technological advancements, with a significant market presence on platforms like JD.com [1][8][12]. Group 1: Current Development Status - AI toys represent a fusion of AI and traditional toys, utilizing large models and various technologies for intelligent interaction, with 2025 seen as a pivotal year for the industry [1][24]. - The global and Chinese AI toy markets are experiencing rapid growth, with JD.com leading the online market [1][50]. - The industry chain features a technology-intensive upstream, a manufacturing-focused midstream, and a diverse downstream channel structure [1][51]. Group 2: Consumer Insights - AI toys differ significantly from traditional toys in interaction methods, providing emotional companionship and educational value [1][59]. - The consumer demographic has expanded from children to all age groups, with varying motivations and usage scenarios, such as Z-generation parents focusing on education and companionship, while single adults seek emotional support [1][66][70]. Group 3: Technological Support - The technology framework consists of a software layer and a hardware layer, with advancements in real-time communication and sensor modules [1][12]. - The integration of cognitive interaction systems is a notable trend, with JD.com's JoyInside technology offering multimodal interaction advantages [1][12]. Group 4: Best Practices - Successful products like LING Universe and companies like LuKa Doctor have demonstrated strong sales and marketing performance, leveraging technological and resource integration [1][12][14]. Group 5: Future Trends - The commercialization of the industry is in its early stages, with potential for diverse revenue channels in both B2B and B2C sectors [2][12]. - The AI toy market is projected to reach over 100 billion yuan by 2030, with a compound annual growth rate (CAGR) exceeding 70% in China [1][49][50].

Core Viewpoint - The AI toy industry is facing significant challenges, including high return rates and a lack of product-market fit, leading to skepticism about its future viability [5][7][22]. Group 1: Market Feedback and Challenges - The current return rate for AI plush toys is between 30% and 40%, indicating consumer dissatisfaction with the products [5][12]. - Many AI toys are priced between 300-400 yuan, but their production costs are generally under 100 yuan, leading to high consumer expectations that are often unmet [19][20]. - Common issues reported by consumers include heavy AI characteristics, response delays, complex interactions, and connectivity problems, which detract from the intended experience of having an emotional and engaging companion [6][15]. Group 2: Product Development and Market Dynamics - Most AI toys on the market are simple in design, typically consisting of a plush toy and a voice interaction box, which has led to a crowded and competitive market [9][11]. - The reliance on e-commerce platforms and their return policies can be detrimental to companies that fail to deliver satisfactory product experiences [12][22]. - Many companies in the AI toy sector are still operating at a loss and depend on financing to sustain their operations, highlighting the financial strain within the industry [7][18]. Group 3: Future Directions and Innovations - New entrants in the AI toy market are exploring differentiated products that incorporate multi-modal interactions and emotional value, targeting a broader audience beyond just children [27][28]. - Companies are beginning to recognize the limitations of current AI toys and are adjusting their designs to improve user experience, such as integrating voice boxes into the toys themselves and enhancing interaction capabilities [25][26]. - The ultimate goal for many AI toy companies is to create personalized AI companions, which requires sustained user engagement and interaction to refine the AI's capabilities [23][24].

Group 1 - The core viewpoint of the article highlights the rapid growth potential of AI toys, with the Chinese AI toy market expected to exceed 100 billion by 2030, growing at an annual rate of over 70% [2] - JD.com hosted the "2025 AI Toy Conference" in Shenzhen, gathering over 600 toy and smart hardware manufacturers to discuss methodologies for creating successful AI toy products [2] - Many Shenzhen toy companies showcased their latest AI toy products at the conference, indicating a strong recognition and practice of AI integration within the local toy industry [2] Group 2 - JD.com’s JoyInside platform aims to enhance the capabilities of embodied intelligence companies by expanding AI from basic functions to more complex interactions, enabling toys to engage in conversations and provide emotional support [3] - Several mainstream robot and AI toy brands have integrated with JD.com’s JoyInside, including Fuzozo, Huohuo Rabbit, and others, indicating a growing ecosystem of AI toy products [3] - A strategic collaboration was announced between JD.com and various brands, including Huohuo Rabbit, which successfully launched a product featuring the character "Nankong Grandpa" that achieved over one million sales within 30 days [3] Group 3 - JD.com has recently invested in several embodied intelligence companies, such as Zhiyuan Robotics and Qianxun Intelligent, which has garnered significant attention in the industry [4]

Core Viewpoint - The stock price of Tom Cat is reported at 5.56 yuan as of July 29, 2025, reflecting a slight decline of 0.02 yuan or 0.36% from the previous trading day [1] Group 1: Company Performance - Tom Cat's main business focuses on the mobile internet cultural industry, developing various casual games and derivatives around the "Talking Tom and Friends" IP [1] - The new game "Talking Tom Gold Run 2" launched overseas on July 15 has shown impressive performance, achieving over 11 million downloads within two weeks [1] - The game ranks in the top ten on the Google Play platform across 70 countries/regions and has reached the top of the download charts in app stores in 31 countries, including the United States and the United Kingdom [1] Group 2: Market Activity - The trading volume on the reporting day was 1.391 million hands, with a transaction amount of 773 million yuan [1] - The company is actively expanding into the AI toy sector, launching AI companion robot products based on its own IP [1]

Core Insights - The AI toy market is gaining attention as a new growth area, shifting focus from AI software applications to hardware that provides companionship for children [1][2] - The founder of Bepei Technology, Huang Yingning, aims to create AI toys that are not merely tools but provide emotional connection and engagement for children [2][3] - The company has successfully raised nearly ten million USD in funding through multiple investment rounds, indicating strong investor interest in the AI toy sector [2][3] Industry Trends - The AI industry is transitioning from foundational models to hardware solutions, with a growing emphasis on AI toys that combine technology with emotional support [1][2] - The market is currently experiencing a saturation of similar AI toy products, leading to a demand for differentiation and unique user experiences [1][2] Company Strategy - Bepei Technology focuses on developing a plush toy with integrated AI capabilities, emphasizing emotional recognition and interactive storytelling [2][3] - The company has opted for a full-chain research and development approach, creating its own hardware and software solutions to meet specific needs that existing suppliers could not fulfill [2][3][20] Product Development - The product design includes a plush toy with glasses, aimed at enhancing children's safety and hygiene while providing an engaging experience [14][16] - The company utilizes insights from child psychology to inform product features and interactions, ensuring that the AI toy fosters curiosity and emotional connection [27][30] Market Positioning - Bepei Technology aims to position its AI toys as affordable yet high-quality products, targeting a wide range of consumers across different regions [40][41] - The company is focused on building brand credibility and consumer trust, with plans to enhance marketing strategies to resonate with parents and children alike [42][45] Future Outlook - The increasing interest and investment in AI hardware are expected to benefit the AI toy sector, leading to improved supply chain cooperation and cost reductions [46] - The company recognizes the importance of adapting to consumer feedback and continuously improving product features to enhance user engagement and retention [30][34]