Chinese start-ups working on robotic hands are seeing a surge in venture capital,signaling stiff competition in humanoid hardware. On Friday, Xynova from Hangzhou announced it wrapped up Series A funding round, with support from big names like Xiaomi and Li Auto. This latest cash injection comes just two months after Xynova's last round. Investments are pouring into this sector at a breakneck pace.
The race for funding reflects a shift in how hard-tech start-ups get financed in China. AgiLink,another key player, recently hit a valuation over $1 billion after several funding rounds since spinning off from AgiBot in January. State media reports say AgiLink has made history by raising capital four times in under six months.
“Becoming unicorn in less than 150 days is unheard of in the humanoid component sector,” said Wu Meimei,a senior analyst at ITJuzi,which tracks venture capital trends in China. The rapid rise in valuations shows not just the competitive nature of the market but also the strong interest from industrial giants and venture capitalists looking to get in on the action.
