会议室桌面上，黑白配色的Ropet轻轻晃动身体，绒毛在灯光下泛起柔和的光泽，访谈中，它不时眨动 双眼，偶尔发出小动物般轻柔的叫声，给人带来一种不打扰的"陪伴感"。这款已进入全球50多个国家的 AI（人工智能）萌宠，直到2025年"双11"才在国内首次正式亮相。并且，令人意外的是，当几乎所有AI 硬件都在竞逐语音交互时，Ropet却主动放弃了对话功能。这种"反其道"的决策无疑是大胆且冒险的。 近日，Ropet的开发商北京萌友智能科技有限公司（以下简称萌友智能）联合创始人兼CEO（首席执行 官）何嘉斌接受了《每日经济新闻》"对话未来商业"栏目记者独家专访。 这位曾任职于微软亚洲研究院、百度、物灵科技、字节跳动的创业者，也是一位潮玩爱好者。他向记者 自述过去养猫的经历让他深刻洞察了宠物带来的情绪价值。这让他更坚定地认为，无论是静态的潮玩摆 件，还是真实饲养的宠物，核心价值都在于提供"情绪价值"与"存在感"。 该理念催生了Ropet的设计理念和定位。成立近4年，萌友智能已经完成三轮融资，最新一轮数千万元人 民币A1轮融资，由北京市人工智能产业投资基金领投，峰瑞资本跟投。 现在，这个主动放弃"说话"的AI萌宠，正试图叩 ...

■行业属性：AI硬件 ■核心竞争力：非语音交互设计、全球市场 ■未来关键词：端侧智能、成长性陪伴 会议室桌面上，黑白配色的Ropet轻轻晃动身体，绒毛在灯光下泛起柔和光泽。在访谈中，它不时眨动 双眼，偶尔发出像小动物一般轻柔的叫声，给人带来一种不打扰的"陪伴感"。 这款已进入全球50多个国家的AI（人工智能）萌宠，直到今年"双11"在国内才首次正式亮相。并且，令 人意外的是，当几乎所有AI硬件都在竞逐语音交互时，Ropet却主动放弃了对话功能。 这种"反其道"的决策无疑是大胆且冒险的。 近日，Ropet的开发商北京萌友智能科技有限公司（以下简称萌友智能）联合创始人兼CEO何嘉斌接受 了《每日经济新闻》"对话未来商业"栏目（更多内容，详见专题|对话未来商业记录、预见、让未来发 生）独家专访。 这位曾任职于微软亚洲研究院、百度、物灵科技、字节跳动的创业者，也是一位潮玩爱好者。他向记者 自述过去养猫的经历让他深刻洞察了宠物带来的情绪价值。这让他更坚定地认为，无论是静态的潮玩摆 件，还是真实饲养的宠物，核心价值都在于提供"情绪价值"与"存在感"。 这一理念催生了Ropet的设计理念和定位。成立近4年，萌友智能已经完成 ...

Core Viewpoint - The article discusses the rapid growth and challenges of the AI toy industry, highlighting the duality of increasing sales and consumer dissatisfaction due to technological limitations and subscription models [5][10][36]. Group 1: Market Trends and Growth - The year 2025 is anticipated to be the "Year of AI Trendy Toys," with significant investments and product launches from various companies, including major tech firms and traditional toy manufacturers [5][10]. - AI toys are experiencing explosive growth, with sales on platforms like JD.com increasing sixfold month-on-month and over 200% year-on-year in the first half of 2025 [15]. - The market is seeing a diverse range of entrants, from startups to established companies like Baidu and ByteDance, all leveraging their technological and ecological advantages [10][15]. Group 2: Consumer Insights and Feedback - Consumers express mixed feelings about AI toys, with some praising their interactive capabilities while others criticize their performance, such as slow response times and lack of emotional engagement [13][28]. - The core audience for AI toys includes children and young adults aged 18-35, with a growing demand for emotional companionship rather than just play [20][24]. - A viral video highlighted the emotional impact of AI toys, showing how they can provide companionship to lonely individuals, particularly among the younger generation [22]. Group 3: Challenges and Limitations - Despite the hype, AI toys face significant challenges, including immature technology, poor user experience, and controversial subscription models that deter consumers [27][36]. - Common complaints include weak multi-turn dialogue capabilities, reliance on stable internet connections, and a lack of personalized responses, leading to a disconnect between expectations and reality [28][29]. - The subscription model for AI toys, which often requires ongoing payments for functionality, is viewed unfavorably by consumers accustomed to traditional one-time purchases [30][31]. Group 4: Industry Dynamics and Future Outlook - The entry of smartphone manufacturers into the AI toy market is seen as a potential game-changer, leveraging their advanced technology and extensive distribution networks to enhance product offerings [38][44]. - Collaboration between AI toy companies and established tech firms could lead to improved user experiences and more innovative products, addressing current limitations [45][46]. - The future success of AI toys may depend on their ability to integrate into broader smart ecosystems and provide meaningful emotional connections rather than just functional interactions [47].

文 | 蓝鲨财经社 简安 随着大模型等AI技术取得突破式进展， AI玩具逐渐从概念走向市场。尤其今年以来，多款热门爆款AI玩具的出现，让其成为当下增速最快的赛道之一， 2025年也被视为 "AI玩具元年"。 然而，剥开光鲜的外衣，硬件困境、渠道短板、用户接受度低等一系列问题浮出水面。这些暗藏的问题和挑战，都昭示着一个无法回避的事实：AI玩具 市场看着很美，但离真正的成功还很遥远。 风口上的狂欢 AI玩具这场风，其实从去年就已经刮起来了。 据蓝鲨财经社不完全统计，2024年至今，国内AI玩具赛道已发生至少31起投融资事件，其中2025年以来的主要投融资就有16起，且不乏多起亿级、千万 级投资，投融资数量和金额双增长。 编辑 | 卢旭成 "所有行业都值得用AI重做一遍。"这句话在当下AI浪潮下重新得到印证，其中最典型的案例就是：AI玩具。 | 序号 | 企业 | 代表产品 | 融资金额 | 融资轮次 | 融资时间 | 投资方 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 跃然创新(Haivivi) | BubblePal | 未披露 | 未公开事件 | 2 ...

Core Viewpoint - The article highlights the growing interest and investment in AI companion robots, particularly showcased at the 2025 West Coast International Technology Consumer Carnival (WTCC) in Shanghai, where numerous companies presented innovative AI products aimed at consumers [3][5][15]. Group 1: Event Overview - The WTCC took place from October 24 to 28, 2025, featuring over 300 AI and robotics companies, with many products making their debut in mainland China [3]. - The event focused on consumer-oriented technology, showcasing various themes such as AI smart terminals, new product launches, and a marketplace for creators [5]. Group 2: AI Companion Robots - AI companion robots were the highlight of the event, attracting significant attention from attendees [6]. - Ropet, an AI pet robot from Mengyou Intelligent, made its domestic debut at the event, previously gaining international exposure at CES with over 6 billion media impressions [7][8]. - Ropet is designed to interact with users through AI, recognizing human actions and emotions, and responding accordingly [8][10]. Group 3: Market Trends and Investment - The AI companion sector is becoming a focal point for investors, with notable figures like Lei Jun and Yu Minhong investing in related projects [16]. - The market for AI companion robots is seen as having high growth potential, with a broad audience across different age groups and significant emotional value [16].

Core Viewpoint - The article discusses the rise of AI hardware, particularly focusing on the emotional companionship aspect of products like Ropet, which aims to provide emotional value rather than practical utility [4][10]. Investment Focus - Fengrui Capital emphasizes early-stage investments in technology-driven startups, particularly in sectors like consumer/TMT, hard technology, and biomedicine, with over half of its investments in interdisciplinary innovations [2]. Market Trends - As of mid-2025, investments in embodied intelligence and AI hardware in China reached 114 deals, totaling over 14.5 billion yuan, significantly surpassing the previous year's figures [4]. - In May 2025 alone, funding for AI hardware accounted for over 50% of all investments [4]. Product Development - Ropet is positioned as a "weak robot," designed to simulate a life form that requires care, thereby providing emotional comfort to users [6][10]. - The product targets urban women, aiming to alleviate feelings of loneliness through an aesthetically pleasing AI pet that can be placed in familiar environments like desks [12]. User Engagement - Ropet learns from user interactions, gradually understanding their emotional changes and preferences, enhancing the emotional connection [12]. - The product is defined as "100% fun" and "0% useful," focusing solely on providing emotional value rather than solving practical problems [9][13]. Technological Evolution - The future of AI lies in "embodied intelligence," which can take various forms and interact with the world, creating new consumer opportunities [14]. - The development of AI hardware typically follows three stages: technological explosion, imaginative application, and realization of commercial value [26][30]. Market Dynamics - The article highlights the challenges of creating a product that is purely for enjoyment, noting that while "useful" products face price competition, "fun" products can achieve premium pricing once market education is successful [15][18]. - The current market environment favors products with emotional value, allowing for higher pricing and unique competitive advantages [15]. User Demographics - Initial target users for Ropet were urban women aged 24-30, but the user base expanded to include older demographics in different regions, indicating a broader appeal [22]. Challenges in Product Development - The journey from concept to market for Ropet involved significant challenges, including financing and product acceptance, leading to a pivot towards a more market-friendly design [45][46]. - The company faced difficulties in hardware iteration, requiring multiple adjustments to meet user expectations and market demands [54][55].

Group 1 - The core viewpoint of the articles highlights the rapid growth and investment in AI hardware in China, with a significant increase in funding and projects expected by mid-2025 [1] - Ropet, a company focused on AI companionship products, has positioned itself uniquely in the market by creating a "weak robot" that provides emotional value rather than practical utility [2][6] - The AI hardware market is experiencing a shift towards products that prioritize emotional connection and user engagement, as seen in Ropet's design and marketing strategy [6][10] Group 2 - Ropet's product is designed specifically for women, aiming to alleviate feelings of loneliness through an aesthetically pleasing AI pet that can be placed in familiar environments [6][9] - The concept of "embodied intelligence" is emphasized, suggesting that AI can take various forms and interact with the world, creating new consumer opportunities [7][24] - The company aims to collect user data through interactions with Ropet, enhancing its ability to understand and respond to user emotions over time [9][41] Group 3 - The discussion around AI hardware indicates a cyclical nature of technological advancements, moving from foundational breakthroughs to practical applications and commercial viability [25][26] - Ropet's development process involved significant iterations and adjustments to hardware design, reflecting the challenges of creating innovative products in a competitive market [51][60] - The company has successfully leveraged media exposure and strategic marketing to gain traction, resulting in substantial global visibility and interest in its product [55][58]

Core Viewpoint - The article discusses the rising trend of AI toys, particularly those integrated with popular IPs, highlighting their potential to reshape the market and attract investment [6][7][22]. Group 1: Market Dynamics - AI toys have gained popularity since last year, but many initial products were criticized for lacking genuine AI capabilities [6]. - The integration of well-known IPs with AI toys has significantly changed the market landscape, as evidenced by the recent 200 million yuan funding for the startup YueRan Innovation [6][10]. - Investors are increasingly favoring AI toys that incorporate IPs, as this combination leads to lower customer acquisition costs and faster market acceptance [7][14]. Group 2: Product Classification and Key Players - The AI toy market can be broadly categorized into AI + robots, AI + pets, and AI + toys, with the latter two often overlapping [9]. - Key players in the AI toy sector include companies like Ropet, LuoBo Intelligent, BeiPei Technology, and YueRan Innovation, with the latter being the highest funded [10][12]. - The pricing of AI toys varies, with products like the Cocomate Ultraman collaboration priced at 799 yuan, reflecting the added value of IP [12][14]. Group 3: Development Challenges - Developing AI toys that accurately represent their associated IPs involves significant challenges, including understanding the IP's story and voice [16][17]. - The technical requirements for creating AI toys are not overly complex, but ensuring they resonate with the IP's essence is crucial [19][20]. - The overall development cycle for an IP-based AI toy can range from one to two months, depending on communication with IP partners [19]. Group 4: Market Performance and Consumer Reception - Despite the initial excitement, the market performance of AI toys has been underwhelming, with high return rates reported [22][24]. - Many AI toys struggle with user experience, particularly in achieving natural and fluid voice interactions [25][28]. - The pricing model for AI toys, which often includes a base price plus a membership fee for software access, has deterred potential customers [28]. Group 5: Future Outlook - The combination of AI and IP in toys is seen as a promising avenue, but the industry has yet to produce a breakout hit with annual sales exceeding one million units [22][24]. - The potential for AI toys to provide emotional companionship and enhance IP value remains a key selling point, but the execution challenges are significant [24][28]. - The industry is still in its early stages, and while there is optimism for future success, achieving a "Bubble Mart" level of impact may take time [28].

Group 1 - The AI doll market is experiencing growth driven by advancements in AI technology and decreasing production costs, making products more affordable for consumers [2][11] - Various prototypes of AI dolls have been showcased at technology exhibitions, indicating a rising interest and potential in the market [3][5] - The production of AI dolls has become easier due to the maturity of the electronics and toy supply chain, allowing for quicker manufacturing and lower costs [9][10] Group 2 - AI dolls can be categorized into two types: plush or soft exterior dolls with limited movement and hardware-like dolls with interactive capabilities [7] - The pricing of AI dolls varies significantly, with some high-end models exceeding 10,000 RMB, while others are priced below 1,000 RMB, making them accessible to a broader audience [7][8] - The cost of AI doll production can be kept under 200 RMB, allowing for competitive pricing in the market [9] Group 3 - B2B clients show interest in AI dolls for customization and cost-effectiveness, indicating a potential market despite the C-end consumer market still developing [10] - The global AI toy industry is projected to exceed 100 billion RMB in 2023, with expectations to surpass 1 trillion RMB by 2030, highlighting significant growth potential [11] - Companies are exploring various functionalities for AI dolls, with a focus on practical applications rather than just companionship, to enhance user engagement [13][14]

Core Viewpoint - The article discusses the emergence of AI companionship products, particularly focusing on the company Ropet and its founder's personal experiences with loneliness, which inspired the creation of an AI pet that provides emotional support rather than traditional conversation [4][6][10]. Group 1: Company Overview - Ropet is an AI companionship robot company founded by He Jiabin, who has a background in major tech companies like Microsoft and Baidu [7][15]. - The company aims to address the loneliness experienced by urban populations through its product, which simulates a living being that requires care, thus providing emotional value to users [10][11]. Group 2: Product Design Philosophy - Ropet's design philosophy is counterintuitive; instead of focusing on conversation, it emphasizes the emotional connection through caregiving, allowing users to find satisfaction in nurturing [10][12]. - The product is designed to resemble a small cat, featuring a soft surface and temperature control, and it responds to human touch with expressions and sounds, enhancing the sense of companionship [12][35]. Group 3: Market Response and Performance - Ropet successfully raised 26.87 million yen (approximately 1.3 million RMB) on the first day of crowdfunding in Japan, indicating strong market interest [13][15]. - The company has completed a multi-million A1 round of financing, led by the Beijing Artificial Intelligence Industry Investment Fund, showcasing investor confidence in the product's potential [15][16]. Group 4: User Insights and Target Demographics - Extensive research involving over 1,000 samples revealed that the target demographic, particularly urban women aged 20-40, do not necessarily seek verbal interaction with AI pets, challenging common assumptions about companionship [34][36]. - Users reported emotional attachment to Ropet, treating it as a pet and expressing a desire for its data to be restored if lost, indicating a deep emotional investment [42][43]. Group 5: Future Outlook and Strategy - The company plans to prioritize overseas markets for initial sales to gather diverse user feedback before launching domestically, with a version expected in November [47][48]. - Ropet aims for a sales target of 10,000 to 15,000 units in the following year, emphasizing the importance of genuine market demand over aggressive marketing strategies [54][55].