Chinese robot maker Unitree wins approval for $619 million Shanghai IPO

This is less a funding round than a national milestone, Beijing is using public markets to bankroll its humanoid robotics champions rather than leaving it purely to venture capital. A successful STAR Market debut would give Unitree currency and visibility to compete globally against Western rivals still reliant on private funding. It also tests whether retail investors are willing to price in years of embodied AI R&D before profits catch up, a bet that has been much harder to make in the US IPO market.