TECH

Smart-Home Startup OneRobotics Lands $206 Million in HK IPO, Bets Big on AI Bots

Published: Dec. 31, 2025 1:26 a.m. GMT+8

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OneRobotics products shown in simulated home settings. Photo: OneRobotics official website

OneRobotics (Shenzhen) Co., Ltd., a smart-home device maker, debuted flat in Hong Kong trading on Tuesday after raising HK$1.64 billion ($206 million) in its initial public offering.

Shares closed at HK$73.85, nearly unchanged from their issue price of HK$73.80. That pegged the company’s market capitalization at about HK$16.4 billion.

Founded in 2015 by two graduates of the Harbin Institute of Technology, OneRobotics is best known for its SwitchBot line of home-automation gadgets, including smart curtain openers and door locks. More recently, it has expanded into AI-driven home assistants, unveiling a plush robotic companion, a wheeled humanoid robot for household tasks, and a robot capable of playing tennis.

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OneRobotics debuted flat on the Hong Kong exchange after a HK$1.64 billion ($206 million) IPO, closing at HK$73.85 with a HK$16.4 billion market cap.
Core revenue grew from 275 million yuan (2022) to 610 million yuan (2024); Japan comprised 68% of 1H 2025 revenue.
The company, now profitable, remains controlled by its co-founders and an employee platform holding 40.1% of voting rights.

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Who’s Who

OneRobotics (Shenzhen) Co., Ltd.: OneRobotics (Shenzhen) Co., Ltd., a smart-home device maker, debuted flat in Hong Kong trading on Tuesday after raising HK$1.64 billion ($206 million) in its IPO. Shares closed at HK$73.85, nearly unchanged from their issue price of HK$73.80. The company, founded in 2015, is known for its SwitchBot line of home-automation gadgets and has expanded into AI-driven home assistants.

Edge Medical Robotics Co. Ltd.: Edge Medical Robotics Co. Ltd. is a Chinese robotics firm. The company launched its Hong Kong IPO on Tuesday, coinciding with a broader surge in sector activity, including the listing of OneRobotics and Deepinfar Ocean Technology Co.'s filing for a Shanghai Star Market listing.

Deepinfar Ocean Technology Co.: Deepinfar Ocean Technology Co. (深之蓝海洋科技股份有限公司) is an underwater drone manufacturer. The company filed for a Shanghai Star Market listing on December 27. Their listing coincides with a broader surge in sector activity, alongside companies like OneRobotics (Shenzhen) Co., Ltd. and Edge Medical Robotics Co. Ltd.

Amazon: Amazon is a key channel for OneRobotics' international sales. The smart-home device maker relies heavily on international markets, with the majority of its sales channeled through Amazon, especially in Japan, Europe, and North America.

XBot Park: XBot Park is an investor in OneRobotics (Shenzhen) Co., Ltd., a smart-home device maker. It participated in funding rounds for the company before its initial public offering.

Brizan Ventures: Brizan Ventures is an investor in OneRobotics (Shenzhen) Co., Ltd., a smart-home device maker. They were among the notable investors prior to OneRobotics' initial public offering in Hong Kong. OneRobotics completed 14 funding rounds before its IPO, with Brizan Ventures participating before the company's valuation reached 4.1 billion yuan in a Series C round in May 2025.

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What Happened When

2015：: OneRobotics was founded by two graduates of the Harbin Institute of Technology.

2022：: OneRobotics reported revenue of 275 million yuan and a net loss of 87 million yuan.

2024：: OneRobotics' revenue increased to 610 million yuan, with a net loss reduced to 3.1 million yuan.

First half of 2025：: OneRobotics reported net income of 27.9 million yuan on revenue of 396 million yuan; smart curtain and lock controls generated 43.7 million yuan and 102 million yuan respectively; Japan contributed 268 million yuan, or 68% of total revenue.

May 2025：: OneRobotics completed a Series C funding round, valuing the company at 4.1 billion yuan.

Before 2025-12-30：: OneRobotics completed 14 funding rounds before its IPO.

2025-12-27：: Deepinfar Ocean Technology Co. filed for a Shanghai Star Market listing.

2025-12-30：: OneRobotics debuted on the Hong Kong Stock Exchange, closing at HK$73.85 after raising HK$1.64 billion in its IPO; Edge Medical Robotics Co. Ltd. launched its Hong Kong IPO.

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