(Yicai) July 8 -- Deep Robotics said the Chinese startup has raised CNY500 million (USD69.7 million) to bolster its position in quadruped robotics and speed up the research and development of humanoid and other advanced robots.

The fundraiser was led by Fortune Venture Capital and CRHC Fund, a unit of state-owned China Reform Holdings, Hangzhou-based Deep Robotics announced today. New investors, including Beijing Robot Industry Development Investment Fund and Qianhai Fund of Funds, joined existing shareholders such as private equity firm Peakvest in also taking part.

In the first five months of this year, investment in Chinese robotics startups topped the total for all of last year, according to figures from market research firm IT Juzi. Companies in the sector raised CNY23.2 billion (USD3.2 billion) between them, surpassing the CNY20.9 billion banked in 2024.

Eighty-seven percent of the funding went to firms working on embodied artificial intelligence, or systems that are integrated into physical agents such as robots, drones, or simulated avatars that perceive, act upon, and learn from their environments in a continuous feedback loop.

Robotera, another Chinese robotics startup, yesterday announced that it had secured CNY500 million in a fundraiser led by CDH Investments and Haier Capital.

The proceeds of Deep Robotics’ latest financing round will be used to strengthen its leading position in the field of quadruped robots, accelerate the development of new products, including humanoid robots, and recruit top talent, said founder and Chief Executive Officer Zhu Qiuguo.

Founded in 2017, the company has brought out several mass-production robotic dogs for use in power inspections, firefighting and emergency response, logistics, and scientific research and education. Last August, the firm unveiled its first android, the DR01, to explore the field of embodied AI.

This April, Deep Robotics introduced the LNYX M20, the world's first wheel-legged robot designed for complex terrains and hazardous environments. Equipped with AI-powered motion control algorithms, it can autonomously perceive, navigate, and avoid obstacles in extreme conditions, including rugged mountain paths, muddy wetlands, and building ruins.

Editor: Futura Costaglione