TECH

Chinese Robot Startup Unitree Gears Up for Market Debut

Published: Sep. 4, 2025 4:21 a.m. GMT+8

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A Unitree Robotics B2 robot dog during the Super AI Conference in Singapore, on June 18, 2025. Photo: Bloomberg

Chinese robotics firm Unitree Robotics said it aims to file for an initial public offering as soon as next month, reaffirming its identity as a company focused on civilian applications, as concerns mount over the military potential of its robotic systems.

The Hangzhou-based startup announced Tuesday that it plans to submit IPO documentation between October and December, adding that it will release more detailed financial and operational information during the process.

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Unitree Technology plans to file for an IPO between October and December 2024, reaffirming its civilian robotics focus amid concerns of military use.
In 2024, 65% of revenue came from robotic dogs, 30% from humanoids, with the firm holding nearly 70% of the global quadruped robot market in 2023.
The company addressed previous cybersecurity concerns, completed significant funding rounds, and secured a 120 million yuan contract with China Mobile in July.

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Who’s Who

Unitree Technology Co. Ltd.: Unitree Technology Co. Ltd. is a Chinese robotics firm based in Hangzhou, founded in 2016. It's a leader in quadruped robots, holding nearly 70% of the global market share in 2023, and has expanded into humanoid robots. The company is preparing for an IPO and emphasizes its focus on civilian applications for its technology, including education, research, consumer, and industrial uses.

Citic Securities Co. Ltd.: Citic Securities Co. Ltd. is acting as the sponsor for Unitree Technology Co. Ltd.'s initial public offering (IPO). Unitree filed for IPO tutoring with Citic Securities Co. Ltd. in July. This indicates their role as a financial institution guiding Unitree through the regulatory process of going public.

China Mobile Ltd.: China Mobile Ltd. is a state-owned telecom carrier. In July, it awarded a 120 million yuan procurement project jointly to Unitree and AgiBot. This project included orders for humanoid robots, computing backpacks, and dexterous robotic hands.

AgiBot: AgiBot is a company that partnered with Unitree to win a 120 million yuan procurement project from China Mobile Ltd. The project involves orders for humanoid robots, computing backpacks, and dexterous robotic hands.

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What Happened When

2016：: Unitree Technology Co. Ltd. was founded.

2023：: Research firm GGII estimated Unitree held nearly 70% of the global market share for four-legged robots.

During 2023 Hangzhou Asian Games：: Unitree's robots carried javelins and discus equipment at track-and-field events.

August 2023：: Unitree unveiled its first humanoid robotics model.

February 2024：: Unitree completed a Series B2 fundraising round, raising around 1 billion yuan.

2024：: Unitree launched the lightweight humanoid G1 at a price of 99,000 yuan ($13,600).

Lunar New Year 2025：: Unitree's humanoid robots performed during the Lunar New Year Gala.

February 2025：: Unitree CEO Wang Xingxing attended a high-level entrepreneurs’ forum.

March 2025：: Unitree reset the administrator password for affected Go1 units and discontinued Zhexi Cloud service days later due to cybersecurity concerns.

April 2025：: Overseas media claimed that Unitree’s Go1 robot dog contained a 'backdoor' vulnerability.

June 2025：: Unitree completed a Series C fundraising round (undisclosed amount).

July 2025：: China’s securities regulator disclosed that Unitree had filed for IPO tutoring with Citic Securities Co. Ltd. as sponsor.

July 2025：: Unitree and AgiBot jointly won a 120 million yuan procurement project from China Mobile Ltd.

September 2, 2025：: Unitree announced its plan to submit IPO documentation between October and December 2025, and issued statements addressing military and cybersecurity concerns.

September 3, 2025：: A quadruped robot dog, resembling Unitree’s designs, appeared in the military parade marking the 80th anniversary of the Japanese surrender.

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