以下文章来源于小饭桌 ，作者小饭桌 小饭桌 . 创业从这里起步 本文来自微信公众号： 小饭桌 ，作者：苏迪，编辑：张丽娟，原文标题：《379亿热钱涌入，投资 人只问"订单在哪"？| 什么值得投之具身智能篇》，题图来自：视觉中国 毫无疑问，具身智能是2025年全球最火热的创新创业领域之一。 根据IT桔子数据，过去一年，整个赛道发生304起融资，超过379亿元资金涌入，分别是2024年的 2.95倍、4.05倍，是2023年的7.24倍、4.37倍，且融资轮次从早期向中后期延伸。 这其中，既有单笔近20亿的"巨无霸"融资，也有十几家机构扎堆抢投的"明星项目"，更有一年完成6 轮、九个月内完成5轮融资的"黑马企业"。 钱在哪儿，故事就在哪儿。 只是，资本虽然依旧踊跃，眼光却愈发挑剔。 对于已推出机器人的公司，投资人开始紧盯"量产能力"与"真实订单"；而对于专注"机器人大脑"的算 法公司，则更关注其技术能否在特定场景中形成"可复制的解决方案"。 金鼎资本就明确表示，具身智能是一二级市场的持续主线，但资本偏好已转向"有独特价值和产业链 生态位"的企业。 这种从"铺赛道"到"选优胜"的转变，或许是行业从狂热走向理性的关键 ...

Group 1 - Meituan has significantly increased its daily order volume to over 100 million through substantial subsidies, demonstrating its dominance in the food delivery market amidst competition from JD.com [2] - The company is also accelerating its investments in the retail sector, having led multiple funding rounds for startups in the robotics and AI fields, including a recent $122 million round for Itstone Intelligent [2][5] - Over the past three years, Meituan has invested in 30 robotics and related companies, positioning itself as a major player in the robotics sector [5][6] Group 2 - Meituan's CEO Wang Xing has outlined a strategic focus on three new directions for the next decade: grocery retail, international expansion, and technology [2][3] - The company aims to leverage AI to build a comprehensive local business ecosystem, although it has not yet developed its own large language models like competitors [5][6] - Meituan's strategy in AI includes enhancing employee efficiency, creating AI-native products, and developing its internal language models to support AI applications [6] Group 3 - The robotics industry is still in its early stages, with challenges in developing large models for robots compared to language models like ChatGPT [8] - Meituan's investment in companies like Galaxy General, which has achieved record funding, reflects a focus on practical applications of robotics in retail, such as automated pharmacies [10][11] - The collaboration between Meituan and Galaxy General aims to implement robotics in various sectors, including offline retail and smart logistics, indicating a long-term vision for automation in retail [12]