以下文章来源于超越 J Curve ，作者刘惠娴 超越 J Curve . 用数据延伸你的阅读 将投中网设为"星标⭐"，第一时间收获最新推送 这种"未富先投"的现象似乎正成为AI领域的新常态。 作者丨 刘惠娴 编辑丨 杨博宇 来源丨 超越 J Curve 前两周，智元机器人在上海举办了首届合作伙伴大会。会上，董事长兼 CEO邓泰华 阐述了公司的对 外投资战略布局。这家头部机器人企业一边计划在年底完成 C轮融资，一边准备"开闸放水"——筹 建专业CVC平台，启动"智元A计划"，拟在三年内孵化50余个早期项目，打造千亿级产业集群。 而且据邓泰华披露，在过去的 1年多时间内， 智元 机器人投资了 15家公司，年化收益率8倍，俨然 一家专注早期科创投资的VC。这 并非孤例。 当下， AI竞赛早 已从单纯的技术 较量 ，演进为资本 与生态的全面对抗。不少仅成立一两年的独角兽，在尚未实现稳定盈利和规模收入之际，便已摇身一 变做起产业投资人 。 它们左手融资百亿，右手投资并购，通过资本手段构建技术护城河与生态壁垒。这种 "未富先投"的 现象 似乎 正成为 AI领域的 新 常 态。 投资 15家公司，年化收益率高达8倍？ 我 ...

2025年最红火的科技产品，当然少不了人形机器人，TA出现在春晚、首届人形机器人半程马拉松、首 届世界人形机器人运动会、世界人工智能大会、世界机器人大会上，扭秧歌、跑步、打拳、唱歌、跳 舞、泡制咖啡……人形机器人无所不在，似乎也无所不能。 今年也被称为"人形机器人元年"，无数创业者躬身入局，争当上游。其中，有一家2023年2月才成立的 创业公司，发展势头迅猛，它就是智元机器人。这家公司由前华为高管邓泰华掌舵，前华为"天才少 年"、技术极客"稚晖君"彭志军担任CTO，在短短两年多的时间里迅速崛起，成为与宇树科技并驾齐驱 的领头羊。 就在前不久，老冀参加了在上海举办的智元机器人首届合作伙伴大会，得知一个惊人的消息：今年第四 季度，智元将开源自研具身智能操作系统"灵渠OS"，助力国产操作系统占领全球机器人市场。 "我们成立智元的时候就开始搞操作系统，希望灵渠OS能够成为ROS之外的第二选择。"智元机器人董 事长兼CEO邓泰华透露。 邓泰华口中的ROS（Robot Operating System），是当前最主流的机器人操作系统。2022年12月，Google X下属Intrinsic公司收购了ROS背后的商业化主体 ...

前两周，智元机器人在上海举办了首届合作伙伴大会。会上，董事长兼CEO邓泰华阐述了公司的对外投资战略布局。这家头部机器人企业一边计划在年底 完成C轮融资，一边准备"开闸放水"——筹建专业CVC平台，启动"智元A计划"，拟在三年内孵化50余个早期项目，打造千亿级产业集群。 01. 投资15家公司 年化收益率高达8倍？ 我们先把镜头拉回智元机器人。 起初，这家公司因联合创始人是B站人气UP主稚晖君而备受瞩目；后来，华为系董事长邓泰华浮出水面，更让其受到一级市场热捧。投中嘉川CVSource 数据显示，截至今年8月下旬，智元已拿下11轮融资。虽然他们从未公布具体融资金额，但可以肯定的是，累计融资额与估值水平稳居国内第一梯队。 | | | 智元机器人融资历程 | | --- | --- | --- | | 交易轮次 | 交易时间 | 投资方名称 | | 天使轮 | 2023-04-14 | 奇绩创坛、高领创投 | | A | 2023-05-29 | 高榕资本、经纬创投、BV百度风投、临创司南、新片区基金、鼎晖投资 | | A+ | 2023-08-21 | 比亚迪、沃赋资本、蓝驰创投、奇煜投资 | | A+ | 20 ...

Core Insights - The first Zhiyuan Robotics Partner Conference was held on August 21 in Shanghai, focusing on accelerating the commercialization of embodied intelligence and transitioning the industry from "technical exploration" to "scaled commercial application" [1] Group 1: Ecosystem Development - Zhiyuan Robotics aims to build a comprehensive ecosystem by 2025, positioning embodied intelligence as the next smart terminal after smartphones and automobiles [1] - The strategy includes mass production of general-purpose humanoid robots, creating a robust collaborative software and hardware platform, and expanding into industrial, commercial, and home scenarios [1] - Key initiatives for ecosystem co-construction involve open-source middleware (AimRT), datasets, and the "Lingqu OS" system, alongside an integrated strategy to promote industry collaboration [1][3] Group 2: Product and Technology Strategy - The CTO introduced a "1+3" full-stack technology strategy, which includes one robot body and three core intelligences: motion intelligence, interaction intelligence, and operation intelligence [2] - Three product series were showcased: Expedition A2 (the first globally certified commercial humanoid robot), Yuanshi G1 (industrial/commercial data tasks), and Lingxi X2 (an educational robot) [2] - The company is focusing on eight major application scenarios, providing scalable solutions across various industries [2] Group 3: Partnership and Resource Allocation - The 2025 partnership policy will tier high-end resources directly to quality partners, with a goal of deploying over 100,000 general-purpose robots in three years [3] - Zhiyuan Robotics is establishing a closed-loop value chain through strategic partnerships, optimizing component development and production while enhancing robot performance and quality [3] Group 4: Supply Chain and Investment Strategy - Several listed companies are involved in Zhiyuan's ecosystem, covering key components such as actuators, sensors, AI models, and assembly [4] - Investment strategies include following the supply chains of leading robot manufacturers, with specific focus on companies like Lianyi Zhizao and Green Harmonic [4] - The market outlook suggests a potential shift in focus towards Tesla's supply chain following the release of Optimus V3 in Q4 2025 [4]

Core Viewpoint - The article discusses the competitive landscape of humanoid robotics in China, focusing on two leading companies: ZhiYuan Robotics and YuShu Technology, highlighting their strategies, partnerships, and market positioning. Group 1: ZhiYuan Robotics - ZhiYuan Robotics held its first partner conference on August 22, showcasing its "high-profile" development model and a comprehensive layout across the entire robotics industry chain [4][5] - The company aims to complete its Series C financing by the end of the year, with expectations of thousands of units shipped this year and tens of thousands next year, primarily targeting B2B markets [4][5] - ZhiYuan has established partnerships with numerous companies in the robotics supply chain, including Lens Technology and LiJing Innovation, and has invested in 15 early-stage projects [5][6] - The company has launched an open-source robotics middleware and a general-purpose embodied intelligence operating system, aiming to create a self-evolving intelligent system [6][7] - ZhiYuan's strategy includes a focus on three core capabilities: motion intelligence, interaction intelligence, and operational intelligence, with a goal of creating a comprehensive product lineup [5][14] Group 2: YuShu Technology - YuShu Technology is characterized as a "hardware-focused" company, emphasizing its strong motion capabilities and targeting educational and research markets for its humanoid robots [10][16] - The company has achieved annual revenue exceeding 1 billion yuan, with a significant portion coming from its biped humanoid robots, and plans to deliver over 1,500 units in 2024 [16][20] - YuShu has initiated its IPO process, with expectations of a high valuation, indicating strong market interest and potential for growth [20] Group 3: Market Dynamics and Comparisons - The article contrasts the two companies' approaches, with ZhiYuan focusing on software and AI capabilities while YuShu emphasizes hardware performance [10][14] - Both companies are racing towards IPOs, with ZhiYuan successfully acquiring a controlling stake in a listed company, enhancing its market position [17][18] - The competition between ZhiYuan and YuShu reflects broader trends in the humanoid robotics sector, where technological advancements and market strategies will determine future success [21][22]

Core Viewpoint - The article emphasizes that the world is on the brink of a "bodily intelligence explosion," with artificial intelligence accelerating towards AGI (Artificial General Intelligence), and predicts that by 2025, embodied intelligent robots will reach a commercial development turning point, becoming the next generation of mass intelligent terminals after smartphones and cars [2][4]. Group 1: Company Strategy and Vision - The company aims to create a comprehensive software and hardware platform for general-purpose humanoid robots, focusing on strong intelligence and easy collaboration, to gradually implement commercial applications in industrial, commercial, and home scenarios [2][3]. - The core strategy includes "ecological co-construction" as a key driver for scaling the embodied intelligence industry, with plans to gather global innovation through open-source initiatives, integration, and capital empowerment [3][4]. Group 2: Product Development and Technology - The company has developed a full series of products suitable for various scenarios, including the "Expedition" series, "Sprite" series, and "Lingxi" series, each targeting different applications such as entertainment, industrial, and educational uses [6][8]. - The "1+3" full-stack technology strategy focuses on building three core capabilities: motion intelligence, interaction intelligence, and operational intelligence, with the goal of creating a self-evolving general embodied intelligent base [6][8]. Group 3: Ecosystem and Market Expansion - The company has launched the "Zhiyuan A Plan," aimed at incubating over 50 high-potential early-stage projects within three years to create a trillion-level industry ecosystem, providing technical support, financing, and open scenarios for participants [4][8]. - The company plans to achieve a deployment of 100,000 general-purpose robots over the next three years, supporting a wide range of tasks and building an open, self-evolving, and self-growing ecosystem for general robots [8].

2025年8月21日，智元机器人首届合作伙伴大会在上海举办。本次大会以"与智同行共启新元"为主题， 通过战略发布、八大场景化解决方案展示、百台机器人沉浸式体验，全面展现了智元机器人在"产品、 技术、商业、生态、资本、团队"各方面的全链条布局。依托"一体三智"全栈技术架构与全系列全场景 产品矩阵，智元机器人与合作伙伴携手，加快具身智能商业化落地进程，推动产业从"技术探索"迈 向"规模商用"。 软硬协同构建具身智能新生态，多元场景覆盖加速具身智能商用新纪元 在大会主论坛上，智元机器人董事长兼CEO邓泰华发表了精彩的开场演讲。他提出，全球正处于"具身 智能大爆发的前夜"，人工智能正加速朝着AGI(Artificial General Intelligence，通用人工智能)迈进，2025 年具身智能机器人将迎来商用发展的拐点，最终成为继手机和汽车之后的"下一代海量智能终端"。 智元机器人秉持创造无限生产力的初心，志在成为智能机器人领域的全球领军企业，开创通用机器人产 业生态，加速通用智能时代的来临。邓泰华还详细阐述了智元机器人的核心战略：以通用量产人形机器 人为牵引目标，着力打造强智能、易协作的软硬件全栈平台，梯次 ...

智元机器人试图通过"灵渠OS"填补这一行业空白。在刚刚落幕的2025世界人工智能大会上，智元机器人联合创始人、CTO彭志辉发布"智元灵渠OS"开源 计划。这是一套面向具身智能场景的操作系统参考架构，是目前业界首个具身智能操作系统。 智元机器人此时推出灵渠OS，不仅是打通自身软硬件技术栈、加速平台化转型的关键一步，对整个具身智能领域而言，也意味着行业在早期探索的分散 态势中，开始显露出标准化与协同化的收敛趋势。 打通具身智能从本体到应用的全链路 具身智能方兴未艾，各家企业大多正忙于围绕特定硬件配置自建闭环系统，无暇打造操作系统平台、构建生态协同。 这一行业现状导致的直接结果是，具身智能当前系统碎片化、软硬件适配成本高，且重复开发现象普遍。尤其是在涉及多任务调度和多设备协同的复杂落 地场景中，缺乏统一中间件和标准化接口，已成为研发慢、落地难的重要原因。 具身智能加速演进，硬件本体持续刷新边界，具身模型也在数据与交互中渐现雏形。而在系统层，通用协同的操作底座依然缺位。 另一大痛点则是仿真和部署的割裂，这极大程度地限制了"大脑"在机器人本体的迁移和验证的效率。 而灵渠OS瞄准的正是具身智能领域当前发展面临的这一系列痛 ...