Linear Capital's 2025 Investor Conference was held in Beijing on November 6-7, with more than 150 global LPs and founding teams of portfolio companies attending. The theme was "To be or not to be, in the AI dominated future".
WIRobotics' WIM KIDS children's walking-assist wearable robot won the CES 2026 Innovation Award in the Digital Health category, marking the company's third consecutive year of winning since 2024. WIM KIDS weighs under 1 kg, more than 37% lighter than the adult model WIM S (1.6 kg); its adjustable modular "grow-with-me frame" is replaced in three stages, fitting children aged 4 to 15, and it uses an AI-based personalized algorithm to provide gait assistance.
Zhisen Technology and Jiangsu Baoxin Technology signed a Strategic Cooperation Framework Agreement to advance the large-scale production of humanoid and quadruped robots through collaborative manufacturing and the establishment of joint ventures. Zhisen Technology will provide the full production technology package, product design drawings, and technical standards for core components, while Jiangsu Baoxin will organize batch production using its intelligent manufacturing capacity. The two parties plan to set up joint ventures in Chengdu and Suzhou, with the goal of achieving sales of no fewer than 3,000 units and sales revenue of 800 million to 1 billion yuan within three years after the joint ventures are established.
The Shenzhen Stock Exchange announced the results of its 2024-2025 information disclosure evaluation for listed companies. Lingyi iTech received the highest "A" rating, marking its third consecutive year earning this rating since 2022, while companies that received an A for three consecutive years account for about 9%. This evaluation was based on the Shenzhen Stock Exchange's Self-Regulatory Supervision Guideline No. 11 for Listed Companies - Information Disclosure Evaluation, which was revised and took effect in March 2025.
Wandercraft announced that its self-balancing exoskeleton Atalante X has received FDA indication expansion clearance, extending its scope from T5-L5 to C4-L5 spinal cord injury and adding a new indication for multiple sclerosis.
Lingyi iTech Chairman Zeng Fangqin delivered a keynote speech at the 2025 Dongguan Private Entrepreneurs Day, tracing the company's journey from a small factory with 80 employees to a global intelligent manufacturing platform with annual revenue exceeding 44.2 billion yuan (2024).
Zeroth showcased its core products at Bridge Summit 2025 in Abu Dhabi, where its consumer robot W1 drew large crowds to its booth to try it out. Founder Renjie Guo took part as a speaker in a key roundtable discussion, saying the robotics industry should not focus only on iterating technical specifications but should also address real social needs such as emotional companionship and daily-life assistance. Brand updates and partnership information will continue to be posted on the official website.
KEENON Robotics announced the deployment of its humanoid service robot XMAN-R1 at Shangri-La Hotel, Shanghai, calling it the world's first hotel to put a humanoid robot on duty and the first smart hotel model to achieve collaborative operation of general-purpose and specialized robots.
Zeroth announced it has completed three angel rounds, raising over $70 million in total at a valuation of $351 million, less than a year after its founding.
Why it matters: The original article provides details on the investors and amounts for the three funding rounds, allowing readers to understand this robotics company's capital structure and shareholder composition.
At a roundtable dialogue with Rokid founder and CEO Misa Zhu at the Hangzhou Future Life Festival, Kevin Kelly mentioned Rokid twice and said he is bullish on the smart glasses form factor. Rokid glasses raised $3.61 million on Kickstarter, breaking the XR industry crowdfunding record. Linear Capital was Rokid's earliest investor and has increased its stake across multiple rounds.
In September, Linear Capital and its founder and CEO Wang Huai were included in 36Kr's 2025 China Industrial Investor Annual Directory lists of embodied intelligence, artificial intelligence, and new quality productive forces industry investment institutions and investors. Linear Capital was also named to Cyzone's 2025 Top 12 Most Admired Early-Stage Investment Institutions and its Most Admired Venture Capital Institutions in Artificial Intelligence, and was rated among the Fund of Funds Research Center's 2025 Top 10 Best Early-Stage Funds in the Yangtze River Delta region.
Estun Cubot has won the "2025 Most Promising Enterprise" Embodied Intelligence (Collaborative Robot) award, jointly hosted by EY Greater China and Fudan University. The company has already achieved capabilities including assembly and robot collaboration, and in the future will advance a "one brain, multiple forms" embodied ecosystem through forms such as bipedal humanoids, wheeled mobile collaborative robots, fixed dual-arm humanoid systems, and wheeled mobile dual-arm humanoid systems.
Wandercraft was selected for the inaugural Physical AI Fellowship co-hosted by AWS, NVIDIA, and MassRobotics, a program aimed at organizations developing intelligent systems for the physical world.
Linear Capital portfolio company Bot Auto announced it has completed its first real-world road test in which the truck truly performed all operations on its own, with no one in the driver's seat, the back seat, or at a remote-control terminal, and no escort vehicle. During the test, the truck on a Texas highway handled scenarios including avoidance, detouring, merging, and responding to the appearance of a fire truck. The vehicle is equipped with 15 cameras, 8 lidars, and 3 millimeter-wave radars, with redundancy in perception, computing, actuation, and power supply; after the primary server is shut down it can switch to a backup server, and if the backup is also shut down, the vehicle control unit takes over to pull over and stop.
Why it matters: The article sorts out the differences between Bot Auto's truly driverless road test and earlier modes with safety drivers, escort vehicles, and remote control, helping readers understand the differences in its technical approach.
HCFA Technology held a relay of product roadshows in four cities—Chengdu, Shijiazhuang, Jinan, and Qingdao—attracting a total of 200 distributors and industry customers. The events showcased M-series and Q-series controllers, the SV730W multi-axis integrated servo system, the D5 series micro low-voltage servo, and the E630 vector VFD. The company's drive product sales exceeded 432 million yuan in the first half of 2025. The events also displayed linear guides, linear motors, vision cameras, and the "HCFA Vision" software platform, while deepening cooperation with channel partners.
Figure AI announced a strategic partnership with Brookfield. Brookfield, which manages over 1 trillion USD in assets and owns more than 100,000 residential units, will help Figure build a real-world humanoid robot pretraining dataset, build the AI infrastructure needed to scale Helix (Figure's in-house vision-language-action model), and explore commercial deployment of humanoid robots.
Why it matters: The official partnership announcement covers three areas: data scale, infrastructure, and deployment, letting readers understand how the data sources support scaling Helix.
Figure AI announced over $1 billion in committed capital for its Series C round at a $39 billion post-money valuation, led by Parkway Venture Capital with participation from NVIDIA, Brookfield, Intel Capital, Salesforce, Qualcomm Ventures and others.
Why it matters: Figure's official disclosure of the funding size and how it will be used lets readers understand the priorities for advancing its three lines: Helix, BotQ manufacturing and data collection.
At the 2025 Jiangsu Industry-University-Research Cooperation Matchmaking Conference, which opened on September 11, Estun Cubot was selected for the national list of 80 "Sci-Tech Future Stars" enterprises. Since its founding in 2022, the company has focused on embodied intelligence and within three years completed R&D on two generations of humanoid robots, 17 high-end collaborative robots, 4 composite mobile robots, and multiple workstations for welding, palletizing, and other tasks. It has also participated in the Ministry of Industry and Information Technology's humanoid robot "open competition" project and the first batch of national humanoid robot standards projects.
Zhejiang Provincial Party Secretary Wang Hao visited the Zhejiang University-Hangzhou Global Scientific and Technological Innovation Center, where MirrorMe Technology demonstrated three robots on site: Black Panther II, BAOBAO, and Apollo.
Mirror Recognition Technology and South Korean senior-care company Caring have signed a strategic cooperation agreement focused on deploying the dual-form robot BAOBAO in elderly care scenarios. Caring will provide scenario requirements from home care, day care, and senior housing, while Mirror Recognition Technology will carry out targeted upgrades to BAOBAO's dual-form switching mechanism, interaction logic, and service algorithms. The two parties will run pilot applications in Caring's day care centers, Caring Stay senior housing, and home care services, then gradually move toward large-scale deployment in South Korea's elderly care market.
TeknTrash Robotics has been included in Google Cloud's official customer success stories. Its humanoid robot sorting system is built on Compute Engine, Cloud Data Fusion, and Cloud Storage, and can automatically sort waste in hazardous and unsanitary environments, with a data collection rate exceeding 6MB per second.
Over the past month, Linear Capital received recognition from several venture capital media outlets: the Fund of Funds Research Center's "2025 Early-Stage Funds Best Returns TOP14", Qimingpian's "Best Early-Stage Comprehensive List TOP8", and its "Best Early-Stage Active List TOP16".
In the first half of 2025, sales revenue of HCFA Technology's drive products reached 432 million yuan, keeping it firmly in the top tier of domestic servo brands. Its SV730W multi-axis integrated servo system won the CIIF Intelligent Manufacturing Award at the 24th Shanghai Industrial Fair; it uses single-chip multi-axis control and a single-node EtherCAT bus, saves over 60% of installation space compared with conventional servos, features a 3.5kHz speed loop bandwidth, and supports 23-bit encoders, 4000RPM motors, and a 36-month warranty. The company said it will continue to deepen its work in servo drives and expand research in areas such as industrial control and humanoid robots.
Swiss embodied intelligence company RIVR (formerly Swiss-Mile) announced a partnership with Just Eat Takeaway.com, Europe's largest food delivery platform, to bring fully autonomous delivery robots to the European market, starting in Zurich, Switzerland, where local restaurants have already begun delivering real orders.
Why it matters: The original article discloses the wheel-legged design, cargo compartment specifications, and rollout timeline, allowing readers to assess the deployment path for this type of delivery robot in real urban environments.
The finals of the 8th China University Intelligent Robot Creative Competition were held in Yuyao from August 21 to 22, with 10,880 teams and nearly 47,000 university students from 752 universities nationwide participating. The competition featured three main tracks—creative, competitive, and combat—and four special events: ROS, legged robots, VEX U, and Sunny Optical's "Future Vision." Unitree Robotics and DEEP Robotics respectively supported the legged robot 2v2 soccer match and the quadruped robot dog inspection, rescue, and grasping events. Yuyao is using the event to promote industry-education integration and attract talent through competitions, aiming to build a robotics industry hub.
On the morning of August 21, the 8th China University Intelligent Robot Creative Competition opened at the China Plastics International Convention and Exhibition Center in Yuyao, Ningbo. The two-day event is hosted by the Yuyao Municipal People's Government and the Robotics Institute of Zhejiang University. The competition features 3 themed events, 3 special events, and 1 industry-education integration creative event, among which the industry-education integration Sunny Optical "Future Vision" creative event was added for the first time. This edition attracted 752 universities, 10,880 teams, and more than 47,000 students from across the country to participate in the preliminaries, with more than 4,000 students traveling to Yuyao for the finals.
White Rhino, an L4 autonomous driving company, announced the completion of a B+ funding round. Existing shareholders SF Express and Linear Capital invested in three consecutive rounds within a year, while Jun Capital, 360 Fund, and Huatai Zijin joined as new shareholders. Total B-round funding has reached nearly 500 million yuan. The funds will go toward R&D of automotive-grade unmanned vehicle products, AI technology iteration, and expansion of commercial scenarios.
Why it matters: The original article disclosed specific cost-reduction figures and changes in operational scale for unmanned vehicles in last-mile delivery scenarios, which can be used to assess the actual progress of commercialization in this sector.
Sam Hou Fai, Chief Executive of the Macao Special Administrative Region, led a delegation to visit the Zhejiang University Hangzhou International Science and Technology Innovation Center, where he personally operated and experienced Mirror Recognition Technology's quadruped robot "Apollo" and gave it high praise. The exhibition area also displayed "Panther II," which broke Boston Dynamics' WildCat record of 8.89 m/s held for ten years with a measured speed of 10.3 m/s; "Apollo" set a Guinness World Record by completing the 100-meter sprint in 16.33 s, and features endurance in extreme environments from -22°C to 55°C and a 40 kg payload capacity, targeting power inspection and emergency rescue scenarios.
Lumos Robotics' full-size humanoid robot LUS2 took second place in the group dance event at the first World Humanoid Robot Games. The 2-minute 36-second performance was carried out by three LUS2 robots, each 1.6m tall and weighing 57kg, relying on millisecond-level multi-joint path planning, dynamic balance control, and a full-body dynamic control system with 28 degrees of freedom.
The 2025 World Robot Conference concluded on August 12. Estun Cuzhuo exhibited the CODROID02 humanoid robot and the Co-Palletizer 20 lifting palletizing system. CODROID02 stands 170 cm tall, weighs 70 kg, has a single-arm payload of 5 kg, and has 31 degrees of freedom across its body (excluding dexterous hands). Its joint modules are fully self-developed, and it uses a fast-slow system architecture combining a vision-language large model with a flow matching strategy. On site, it demonstrated part grasping and barcode scanning.
Linear Capital released quarterly progress updates from its portfolio companies, covering four categories: funding, products, partnerships, and industry recognition. On funding: D-Robotics completed a $100 million Series A, Tashi Zhihang completed a $122 million angel+ round, White Rhino completed a 200 million yuan Series B led by SF Express, and Weiwo completed over $60 million in C1/C2 funding.
Sichuan Tianlian Robot Co., Ltd. signed a STAR Market listing coaching agreement with Huaan Securities on July 25, 2025, submitted coaching filing materials on July 28, and on July 30 was accepted by the Sichuan Regulatory Bureau and entered the coaching period. The company's revenue in 2023 and 2024 was 21.3926 million yuan and 29.9100 million yuan respectively, with net profit negative in both years; as of July 30, 2025, its total market value was 756 million yuan, and its market value and financial indicators do not currently meet the STAR Market listing conditions, so there is a risk that it cannot be listed.
More than ten Linear Capital portfolio companies exhibited at WAIC 2025. Rokid Glasses reached sales of 300,000 units, and Manycore Tech released the InteriorGS dataset containing 1,000 3D Gaussian semantic scenes. D-Robotics' RDK S100x and the Qinglong robot demonstrated voice-controlled grasping on site, and White Rhino's R3 unmanned vehicle has been approved for a road testing permit in Pudong New Area. Ling Universe's AI learning companion Xiaofangji went on sale on JD.com at the end of May, and Lingshu Intelligence's ship material management case was selected as a 2024 AI innovation practice case by China State Shipbuilding Corporation.
SAIC Beijing and LimX Dynamics signed a strategic cooperation memorandum in Beijing, announcing the establishment of a joint embodied intelligence laboratory to conduct embodied robot algorithm R&D, system development, and toolchain deployment around automotive scenarios. LimX Dynamics will provide underlying technologies including robot bodies, whole-body motion control algorithms, VLA model frameworks, data engines, and toolchain platforms. The two parties will carry out humanoid robot data collection, training, and evaluation in automotive manufacturing scenarios, and gradually form a complete R&D process from data collection and model training to system testing.
Gritworld recently announced the close of a B3 funding round in the tens of millions of dollars, led jointly by Wuxi Venture Capital, Wuxi Binhu Industrial Group and BYD, with existing shareholder Longma Peak Ventures and others participating; Linear Capital was the earliest-round investor and continues to add. The round will fund the AI-native upgrade of its 3D graphics engine GritGene, as well as R&D in simulated training for embodied intelligence and world models, and multimodal intelligent human-computer interaction.
Wandercraft announced that its self-balancing, hands-free exoskeleton Atalante X has been deployed at the Moody Neurorehabilitation Institute to provide high-intensity gait therapy for patients with complex mobility impairments such as traumatic brain injury.
Embodied intelligence startup TARS announced on July 8 that it has completed a $122 million angel-plus funding round led by Meituan Strategic Investment, with joint participation from Junshan Investment, Bihong Investment, Guochi Investment, Lingang Science and Technology Innovation Investment, SAIF Investment Fund, and Jianfa Emerging Investment, while existing shareholders Linear Capital and Xianghe Capital continued to increase their investment.
The Jiangsu Embodied Intelligent Robot Industry Alliance was established in Nanjing, and Estun Cobot was elected as its first vice-chair unit. During a tour of the exhibition, Governor Xu Kunlin and other officials interacted with the humanoid robot Codroid 02. Codroid 02 stands 170 cm tall, is equipped with self-developed integrated joint modules, has 31 degrees of freedom (excluding dexterous hands), and a single-arm payload of 5 kg. It uses a dual-system architecture combining a vision-language large model with a flow matching strategy, and demonstrated dynamic walking and fine manipulation on site. It is planned for future use in automotive final assembly, electronics assembly, logistics, and other industries.
On June 24, Estun Codroid showcased three product categories at AUTOMATICA 2025 in Munich: humanoid robots, collaborative robots, and intelligent workstations. The second-generation humanoid robot CODROID 02 stands 170 cm tall, features self-developed integrated joint modules, has 31 degrees of freedom (excluding dexterous hands), and supports a 5 kg payload per arm; it demonstrated dynamic walking and fine manipulation on site. The Co-Palletizer 20 palletizing workstation has a 20 kg payload and a 1777 mm reach, can be unpacked and used within 30 minutes, and supports a maximum stacking height of 2.4 meters.
Hangzhou Disi Medical Biotechnology Co., Ltd. recently completed a Series A financing round of nearly 100 million yuan, led by Panlin Capital, with Shangcheng Capital, Jinhe Capital, and Hangzhou Science and Technology Innovation Group (Disruptive Technology Achievement Transformation Fund) participating as co-investors. Linear Capital was the lead investor in the Pre-A round and increased its investment in subsequent rounds.