Unitree aiming to raise $904 million in Shanghai IPO
Unitree, the robotics company behind those viral dancing robots, is about to launch an IPO on the Shanghai Stock Exchange, aiming to raise $904 million.
If all goes well, Unitree will become mainland China's first publicly listed humanoid robot manufacturer.
Shares are priced at 150.8 yuan each, and subscriptions begin Monday.
Unitree revenue nearly 1.7 billion yuan
Started in 2016 by engineer Wang Xingxing in Hangzhou, Unitree began with robot dogs before making waves globally with its G1, H1, and R1 humanoids (yep, the ones you've probably seen running or doing martial arts online).
The company's revenue rose more than fourfold to nearly 1.7 billion yuan last year, with more than 40% of sales coming from overseas.
While most humanoid robots are still used for research rather than everyday jobs due to reliability issues, this IPO could help push them closer to mainstream use.