Chinese robotics startup AI2 eyes IPO after securing $70M robot deal

Chinese robotics startup AI2 Robotics plans to go public within one to two years, driven by explosive revenue growth from industrial demand for its humanoid robots. The company just secured a $70 million contract with semiconductor display manufacturer HKC Corporation for over 1,000 humanoid robots across three years—nearly five times its $15 million revenue from the first half of 2024.

What you should know: AI2 Robotics is targeting aggressive growth as China’s robotics sector capitalizes on long-term demographic challenges.

• CEO Eric Guo projects “10 times growth (in revenue) pretty much every year” as industrial automation demand accelerates.
• The startup has raised an estimated $140 million from venture capital firms, which Guo says provides enough runway for 10 years at current spending levels.
• Founded in early 2023, AI2 has already achieved unicorn status with a valuation exceeding $1 billion, though Guo declined to specify the exact figure.

How their robots work: AI2’s AlphaBot2 represents a hybrid approach to humanoid robotics designed for industrial applications.

• The robots feature humanoid upper bodies capable of assembly tasks, quality inspections, and testing, but move on six wheels rather than legs for stability.
• They’re powered by Alpha Brain, an AI system that AI2 developed in-house and has now made freely available to other developers.
• “Our key advantage is that our robot has a brain, so we don’t need remote control to get the robot to work in our customer’s place,” Guo explained.

The big picture: AI2 is part of a broader wave of Chinese firms developing AI-powered humanoid robots as the world’s second-largest economy prepares for population decline.

• Rival Chinese robotics company Unitree is reportedly eyeing a $7 billion IPO valuation, indicating significant investor appetite for the sector.
• The timing aligns with China’s strategic push into robotics and automation as demographic shifts create labor shortages in key industries.

What they’re saying: Guo emphasized the company’s technological differentiation during a business forum in Singapore.

• “Our key advantage is that our robot has a brain, so we don’t need remote control to get the robot to work in our customer’s place,” he told Reuters.
• The CEO expressed confidence in the company’s growth trajectory, projecting continued exponential revenue increases driven by industrial adoption.