Robot Maker Xingchen Intelligent (Astribot) Raises RMB 1 Billion at RMB 15 Billion Valuation, Report Says
Shenzhen's Xingchen Intelligent (Astribot) has announced a RMB 1 billion round at a RMB 15 billion valuation, led by Shenzhen Investment Holdings' Toukong Donghai, according to a report published by 21st Century Business Herald on Oct. 13. The report says it is the company's fourth round in about six months. Xingchen says it mass-produces rope-driven robots, including a T1 humanoid priced from RMB 89,900.
Shenzhen robot maker Xingchen Intelligent (Astribot) has announced a new RMB 1 billion financing round at a RMB 15 billion valuation, according to a report by Investment Jie (投资界) published by 21st Century Business Herald on Tuesday, October 13. The report says it is the company's fourth round in about six months, three months after a Series B of more than RMB 1 billion.
Who invested
The round was led by Toukong Donghai (Shenzhen Investment Holdings), with Hongtai Fund, the Ninghai Xingtaihe Fund managed by Guanghua Sunshine, and Shanheng Capital participating; existing shareholder Xianmu invested again, the report says. It describes the backers as a mix of state-linked and financial investors.
What the company claims
- Rope-driven robots: Xingchen says it is the first company in the world to commercially mass-produce rope-driven (tendon-driven) AI robots, the report says.
- Products: its T1 humanoid began shipping in June 2026 at a starting price of RMB 89,900; the S-series flagship opened thousand-unit orders in September 2025. Combined S and T capacity has reached the 10,000-unit level, according to the report.
- Models: it released Lumo-2, which it describes as a world-action model for home settings, in July, and an online reinforcement-learning framework, SmoothRL, in September.
Founder and CEO Lai Jie was previously the first employee and an architect at Tencent's Robotics X lab, the report says.
Limits
- All figures come from one Chinese-language report; we have not seen a company filing or second outlet.
- Production, capacity and "world first" claims are the company's, as reported.
- We give RMB figures only; outlets' dollar conversions vary.