梅开五度，2025年国内"最火"人形机器人初企之一 【松延动力】完成近2亿元新一轮融资！ 11月26日， "清华系"人形机器人创企 [松延动力（北京）科技有限公司] （以下简称"松 延动力"）宣布已完成 近2亿元 Pre-B+轮融资 ，本轮融资 由中金资本领投，允泰资本、厚为资本跟投。融资将用于加大技术创新与研发投入、拓宽高价值应用场景的生态合作，以及打通从研发到大规模 量产交付的通路。 值的注意的是，公司于10月26日刚完成 近3亿元 Pre-B轮融资，本轮融资由方广资本领投， 祥峰投资 、中车转型升级基金、聚合资本、东方嘉 富、央视融媒体基金、 嘉道资本 、宽桥恒松等一众知名机构跟投。 至此，这家 因参加4月19日人形机器人 半马"爆火"后的运动派人形机器人创企，半马过后在资本市场备受关注；据称，半马之后，已有数十位投 资人，开始找老股东打听松延动力的最新估值消息，希望寻求引荐。 | 融资历程9 | | | | | 〔〕 导出数据, 联系商务 | © 企查查 | | --- | --- | --- | --- | --- | --- | --- | | 序号 | 融资日期 | 融资轮次 | 融资金额 | ...

Core Viewpoint - The humanoid robot developer "Songyan Power" has successfully completed nearly 300 million yuan in Pre-B round financing, led by Fangguo Capital with participation from several well-known institutions [1][23]. Company Overview - Songyan Power was established in September 2023 in Beijing, focusing on general artificial intelligence, robotic bionics, and embodied intelligent systems, aiming to bring robots into households [3]. - The core team consists of members from prestigious institutions such as Tsinghua University and the Chinese Academy of Sciences, with the founder Jiang Zheyuan being a Tsinghua graduate [3]. Product Development and Business Expansion - Songyan Power has developed two main product lines: biped humanoid robots and bionic humanoid robots, with the N series focusing on lower limb movement and the Dora series on upper and lower limb coordination [5]. - The company successfully completed the structural design of its first humanoid robot, the N1, achieving stable bipedal walking and passing various terrain tests within two months of establishment [5]. Recent Product Launches - Within three months of its founding, Songyan Power launched the first high-freedom, immersive interactive bionic robot head in China, featuring self-developed multimodal large models for low-latency human-robot dialogue [7]. - The N2 humanoid robot, weighing 30 kg and standing 1.2 meters tall, gained public attention for its performance in a viral video showcasing its capabilities, including running and performing backflips [9][10]. Market Response and Sales - Following the participation in the first humanoid robot marathon, the company saw a significant increase in inquiries, with daily consultations rising from approximately 300 to between 500 and 1000 [12]. - By May 2025, Songyan Power had accumulated over 2,000 orders for its humanoid robots [12]. New Product Offerings - In May, the company released several new models, including the female bionic robot "Xiao Nuo," the athletic N2, and the versatile E1, with the E1 priced at 79,990 yuan and featuring up to 29 degrees of freedom [14][15]. - In October, the company introduced the "Bumi Xiaobumi," a family-oriented robot priced at only 9,998 yuan, which sold out quickly after its launch [18][19]. Production Capacity - Songyan Power's Beijing factory has a monthly delivery capacity exceeding 200 units, with plans for a new factory in Changzhou to achieve a total monthly capacity of 500 units by December 2025 [21]. Financing and Growth Potential - Within two years of its establishment, Songyan Power has completed over five rounds of financing, attracting both market and government-backed investment institutions, indicating strong recognition and growth potential in the capital market [23].

Core Viewpoint - The article highlights the recent success of Songyan Power, a humanoid robot startup, which completed nearly 300 million yuan in Pre-B financing, significantly increasing its market visibility and valuation to around 2 billion yuan after a successful performance in a humanoid robot marathon [2][4]. Financing Overview - Songyan Power has completed a total of 7 financing rounds, with the latest round on October 26, 2025, raising approximately 300 million yuan led by Fangguang Capital [3][4]. - Prior to this, the company had completed several rounds of financing, including a significant A+ round in August 2025, raising hundreds of millions of yuan [3][4]. Product Launch and Market Response - On October 22, 2025, Songyan Power launched the world's first high-performance humanoid robot priced under 10,000 yuan, named "Bumi Xiaobumi," which received a strong market response with rapid sales [4][5]. - The company reported that within the first hour of launching on JD.com, orders exceeded 100 units, and within two days, the initial batch of 500 units sold out [5]. Competitive Landscape - Songyan Power is positioned as the third major player in the "sports-style" humanoid robot sector, following Yushu Technology and Zhongqing Robotics, gaining attention after its robots performed well in a marathon event [8][29]. - The company aims to differentiate itself by focusing on both educational and industrial applications, while also expanding into consumer markets [29][30]. Team and Expertise - The core team consists of young professionals, primarily from prestigious universities such as Tsinghua University and Zhejiang University, with a strong emphasis on research and development [11][13]. - The company has over 60 employees, with 85% of the workforce dedicated to R&D [11]. Production and Strategy - Songyan Power has established production bases in Beijing, Changzhou, and Dongguan, focusing on humanoid robot manufacturing [28]. - The company currently relies on external processing for manufacturing, which is common among humanoid robot startups [29]. Future Goals - The company aims to achieve significant production and delivery targets, with a goal of delivering 10,000 units in the following year [22][30]. - The strategy includes transitioning from government and business (ToG and ToB) markets to consumer (ToC) markets, aiming for comprehensive coverage across various applications [29][30].

Core Insights - The launch of the humanoid robot "Bumi" by Songyan Power marks a significant shift in the market, bringing humanoid robots from the "laboratory" to the "consumer" level, challenging the notion that high performance equals high price [1] - Bumi is priced at 9998 yuan, making it accessible to a broader audience, and showcases various functionalities such as walking, running, dancing, voice interaction, and app control [1] Company Overview - Songyan Power was established in September 2023, with a founding team from prestigious universities such as Tsinghua University and Zhejiang University [1] - The company has completed six rounds of equity investment since its inception, with the latest round being a multi-hundred million yuan A++ financing in early August [1] Product Details - Bumi stands at 94 cm tall, weighs approximately 12 kg, has about 21 degrees of freedom, and a battery life of 1 to 2 hours [1] - The robot is positioned for applications in entertainment, companionship, education, and exhibition [1] Market Performance - Songyan Power's humanoid robot N2 has achieved notable success, winning the runner-up position in the Beijing Yizhuang humanoid robot half marathon and the championship in the gymnastics category at the World Humanoid Robot Games [1] - As of September, the total order volume for the N2 robot has surpassed 2500 units [1]

Core Insights - The focus of the WAIC and WRC this year is on practical applications of robotics, moving away from mere demonstrations of capabilities to real-world tasks such as sorting on production lines and retail operations [3][12][19] - The emergence of embodied intelligence is highlighted, with many companies showcasing robots that can interact and perform complex tasks, indicating a significant advancement in the field [6][8][21] Group 1: Event Highlights - The WAIC featured 80 companies focused on embodied intelligence, showcasing robots like boxing humanoids and agile quadrupeds [3][6] - At the WRC, robots demonstrated various skills, including delivering goods and engaging in interactive games, emphasizing their practical utility [3][8] - Companies like Yushutech and Zhiyuan Robotics attracted attention with their advanced humanoid robots capable of complex movements and interactions [6][9] Group 2: Technological Advancements - The integration of large models and high-precision dynamic performance has expanded the application scenarios for robots [5] - Companies are focusing on enhancing the realism and emotional engagement of robots through advanced expression simulation and sensory technologies [21][24] - The development of versatile robotic hands and components is crucial for the overall functionality of humanoid robots, with several companies showcasing innovative designs [30][31] Group 3: Industry Trends - The trend towards a diverse product ecosystem is evident, with companies developing a wide range of robots for various applications, from industrial to service sectors [28] - The industry is witnessing a deepening of the supply chain, with a focus on collaborative technologies and shared innovations among manufacturers [29] - The commercialization of robots in retail and service industries is progressing, with several companies demonstrating robots capable of performing specific tasks in real-world environments [18][19]

Core Viewpoint - The article highlights the rapid growth and investment interest in the humanoid robotics startup, Songyan Power, particularly following its performance in a recent marathon event, which has significantly increased its visibility and valuation in the capital market [2][4]. Financing Overview - Songyan Power completed a new round of financing amounting to several hundred million yuan on August 5, 2025, led by Jinpu Investment, with participation from several notable institutions [2][3]. - The company has completed a total of six financing rounds, with the most recent A++ round marking a significant increase in valuation compared to previous rounds [3][4]. - Prior to the recent surge in interest, the first five rounds of financing totaled approximately 200 million yuan, indicating a substantial increase in investor interest post-marathon [4]. Product and Market Performance - The humanoid robot N2, launched on March 14, 2025, is noted for being the world's first humanoid robot capable of performing continuous flips, priced starting at 39,900 yuan [10]. - Following the marathon event, the company reported a surge in orders, with over 700 units of the N2 robot ordered, and a target of 1,000 units for the year [12][18]. - By June 18, 2025, the total number of orders for the N2 robot surpassed 2,500, generating over 100 million yuan in total revenue [15]. Team and Structure - The core team consists of five founders, all born in the 1990s, with backgrounds from prestigious institutions such as Tsinghua University and Zhejiang University [8][9]. - The company employs over 60 staff, with more than 85% dedicated to research and development [9]. Strategic Goals and Future Outlook - The company aims to enhance its production and delivery capabilities, with a goal of achieving over 10,000 units delivered in the following year [17]. - Songyan Power is strategically focusing on government and business (ToG and ToB) markets before expanding into consumer (ToC) markets, aiming for a comprehensive coverage from industrial to commercial and eventually household applications [19]. Industry Context - The article discusses the competitive landscape of humanoid robotics, categorizing companies into two main camps: "hardware-focused" firms like Songyan Power and "software-focused" firms that emphasize AI capabilities [20][21]. - The current trend in the industry shows a preference for showcasing impressive physical capabilities, which raises questions about the long-term sustainability of such business models [20][22].

Core Viewpoint - The article discusses the current landscape of humanoid robotics in China, highlighting two main camps: the "hardware faction" represented by Yushu Technology, which focuses on motion capabilities, and the "software faction" represented by Zhiyuan Robotics and Galaxy General, which emphasizes strong AI capabilities. The article notes significant recent funding rounds for these companies, indicating a growing interest in the sector [1][2]. Funding and Valuation - Zhiyuan Robotics completed a B-round financing led by Tencent on March 24, achieving a post-investment valuation of 15 billion yuan. The company has received additional investments from Tencent and JD.com [1]. - Yushu Technology announced a C-round financing on June 19, led by a fund under China Mobile, Tencent, and others, with a post-investment valuation of 10 billion yuan [1]. - Galaxy General secured 1.1 billion yuan in a new financing round on June 23, bringing its total funding to over 2.4 billion yuan and elevating it to the "unicorn" status [1]. Market Dynamics - The article notes a competitive landscape in the humanoid robotics sector, with Zhiyuan Robotics and Galaxy General emerging as the leading players in the "software faction," while Yushu Technology remains the top player in the "hardware faction" [2]. - The rental market for humanoid robots is also highlighted, with Yushu's G1 robot commanding a rental price of 15,000 yuan per day, leading to significant profits for early adopters [8]. Performance and Challenges - Yushu Technology faced a trust crisis following a poor performance at a humanoid robot marathon, leading to skepticism about its products and a decline in the rental market [10]. - In contrast, Songyan Power, a new entrant in the "hardware faction," gained significant attention after its robot N2 performed well in the same marathon, leading to a surge in orders and interest from investors [12][16]. Future Prospects - Songyan Power aims to leverage its recent success to expand its product offerings and market presence, with a goal of selling 1,000 units of the N2 robot this year [20]. - The article suggests that the humanoid robotics sector is at a crossroads, with companies needing to balance impressive demonstrations of capabilities with sustainable commercial applications [21][24].

Core Viewpoint - The article discusses the rise and subsequent challenges faced by Yushu Technology, a leading humanoid robotics company in China, highlighting the impact of public perception and market dynamics on its growth and reputation [1][12][19]. Summary by Sections Company Overview - Yushu Technology gained significant attention after its humanoid robots performed at the Spring Festival Gala, leading to a surge in popularity and market interest [9][10]. - The company was initially celebrated as a potential leader in the humanoid robotics sector, likened to DJI in the drone industry [1]. Public Perception and Criticism - CEO Wang Xingxing's ambitious statements about the capabilities of humanoid robots sparked widespread ridicule, leading to a trust crisis for the company [2][12]. - Following a poorly received performance in a humanoid robot half-marathon, Yushu Technology faced backlash, with many questioning the practicality of its robots [12][15]. Market Dynamics - The company has seen fluctuations in its stock and market interest, with a notable rise in valuation and attention from investors following its initial success [10][22]. - Despite the initial hype, the company is now experiencing a "flow backlash," as the reality of its robots' capabilities does not meet public expectations set by promotional videos [12][19]. Financial Performance - Yushu Technology has maintained profitability, with projected revenues of approximately 2 billion yuan in 2023 and 4 billion yuan in 2024, alongside net profits ranging from 10 million to 70 million yuan [19][20]. - The company has secured numerous project bids, indicating a strong market presence despite recent challenges [20]. Competitive Landscape - Other humanoid robotics companies, such as Songyan Power, have emerged as competitors, capitalizing on Yushu Technology's missteps to gain market share and investor interest [15][17]. - The article highlights a trend where companies focusing on performance and spectacle are gaining traction, but questions the sustainability of such a strategy in the long term [12][19]. Future Outlook - The industry is at a crossroads, with companies needing to balance technological advancements with practical applications to ensure long-term viability [21][22]. - The article suggests that while the humanoid robotics sector has significant potential, the path to commercialization remains fraught with challenges, particularly in achieving meaningful technological breakthroughs [22][23].

Core Viewpoint - The article discusses the rise and subsequent challenges faced by Yushu Technology, a leading humanoid robotics company in China, highlighting the impact of public perception and market dynamics on its growth and credibility [1][12][15]. Group 1: Company Overview - Yushu Technology gained significant attention after its humanoid robots performed at the Spring Festival Gala, leading to a surge in popularity and market interest [8]. - The company has undergone a name change to Hangzhou Yushu Technology Co., Ltd. and is preparing for an IPO, which has generated considerable buzz in the stock market [8][12]. Group 2: Technology and Market Position - The founder, Wang Xingxing, emphasized that the ultimate goal is to create humanoid robots capable of performing practical tasks in both domestic and industrial settings, although current technology limits their immediate application [3][6]. - Yushu Technology's robots are designed to showcase advanced movement capabilities, such as dancing and martial arts, to demonstrate the current state of robotics technology [3][6]. Group 3: Market Dynamics and Competition - The success of Yushu Technology has sparked a trend among other humanoid robotics companies to showcase their robots' capabilities, leading to a competitive "show-off" culture in the industry [9][11]. - Competitors like Zhongqing Robotics have also gained attention by demonstrating their robots' athletic abilities, securing significant investments and orders [9][15]. Group 4: Challenges and Criticism - Despite initial success, Yushu Technology has faced a trust crisis due to underwhelming performances in practical applications, leading to public skepticism about the capabilities of its robots [12][13]. - The company has been criticized for focusing on flashy demonstrations rather than practical applications, raising concerns about the sustainability of its business model [19][20]. Group 5: Financial Performance - Yushu Technology has maintained profitability since 2020, with projected revenues of approximately 200 million yuan in 2023 and 400 million yuan in 2024, alongside net profits ranging from 10 million to 70 million yuan [20][22]. - The company has secured numerous project contracts in the first five months of the year, indicating strong market demand despite recent challenges [21].

Group 1 - The company, Songyan Power, has successfully capitalized on the flow dividend, selling over 2,000 humanoid robots and achieving a contract sales revenue exceeding 100 million yuan [1][13] - The founder, Jiang Zheyuan, emphasizes the importance of converting short-term traffic into long-term commercial advantages by building a sales channel system [1][7] - The company has completed five rounds of financing, with ongoing A++ and Pre-B rounds totaling several hundred million yuan [1][30] Group 2 - Compared to other star startups with valuations reaching hundreds of millions, Songyan Power's latest financing round values the company at approximately 2 billion yuan [2] - Jiang Zheyuan believes that valuation should align with business progress and warns against overextending valuations prematurely [2][22] Group 3 - The company is exploring the potential of "event economy" in the humanoid robot sector, with a focus on competitive sports as a marketing strategy [3][4] - Following the success of the robot half marathon, the company has seen a significant increase in media attention and customer inquiries, leading to a surge in sales [5][7] Group 4 - Songyan Power has signed contracts with over 100 agents during an ecological conference, aiming to build a robust distribution network [8][11] - The company has established production bases in multiple locations to ensure stable mass production and delivery [11][12] Group 5 - The humanoid robot N2, which gained popularity during the half marathon, is a key model driving sales [1][13] - The company aims to maintain competitive pricing and enhance product features to adapt to market demands [32][33] Group 6 - Jiang Zheyuan reflects on the challenges of transitioning from academia to entrepreneurship, emphasizing the need for a comprehensive understanding of business operations [17][18] - The company focuses on attracting like-minded individuals and providing reasonable compensation to retain talent [25][28]