Chinese Startup AI² Robotics Is Said to Consider Hong Kong IPO

Chinese robot maker AI² Robotics is considering an initial public offering in Hong Kong, according to people familiar with the matter, looking to tap into interest for the growing sector.

The Shenzhen-based company is working with advisers on a potential offering that may take place as soon as next year, the people said, asking not to be identified discussing confidential information.

AI² Robotics recently raised almost 5 billion yuan ($740 million) in a funding round that pushed its valuation above 20 billion yuan, a level reached by just a handful of firms in the crowded field.

Deliberations on the IPO are ongoing and details such as timing are subject to change, the people said. A representative for AI² Robotics didn’t immediately respond to a request seeking comment.

Founded in 2023, AI² Robotics makes general-purpose robots covering research, development, manufacturing, and services. It has also developed an artificial intelligence foundation model tailored for navigating the physical world, called AlphaBrain.

A growing cohort of Chinese robotics companies are looking to go public in both Hong Kong and on mainland exchanges as they seek funds to develop their technology. They are led by Hangzhou-based Unitree Robotics, which will start taking orders for it 4.2 billion yuan Shanghai IPO later this month.