# Why embodied AI funding suddenly got harder: after 322 deals worth nearly 93.5 billion yuan in H1, September funding fell 40% month-on-month

- Source: OFweek Robotics
- Published: 2026-11-02T06:01:00.000Z
- RoboHot: https://robohot.news/en/items/m1vrxvnmstjifdeu918eht78w
- Original: https://robot.ofweek.com/2026-11/ART-8321206-12003-30709752.html

## Summary

After embodied AI funding reached 322 deals worth nearly 93.5 billion yuan in the first half of 2025, September funding fell 40% from August, and the first half of October totaled only 4.9 billion yuan. The article analyzes the cooling from three angles: technology, orders, and valuation. In the first half, 218 publicly disclosed winning bids totaled about 1.7 billion yuan, of which industrial orders accounted for only 20% and were mostly prototype testing. After Unitree's listing, its share price fell from 1,100 yuan to 404 yuan, and more than 20 robotics companies collapsed within 19 months. The author argues that capital has not left but has shifted toward early-stage rounds and up and down the industry chain, with more emphasis on real delivery and orders.