EngineAI Targets $1 Billion Valuation as Chinese Robots Heat Up

EngineAI is targeting a round of financing later this year at a $1 billion valuation, seeking capital to join a global race to develop humanoid robots.

The Chinese startup is hoping to raise 1 billion yuan ($139 million) around the fourth quarter, co-founder Ren Guowen told Bloomberg News. It aims to become a unicorn through that funding, he said.

EngineAI, founded in 2023, is among a coterie of up-and-coming firms hoping to take human-like robots into the mainstream. The Shenzhen-based company generated buzz this year after posting a video of one of its robots performing a frontflip.

Chinese startups ...