Meituan Doubles Down on Robotics: Can a $1 Billion Valuation Make U-Tree the Chinese Figure AI?
Meituan, the Chinese food deliveryand e-commerce giant, has once again invested in U-Tree Technology, a leading robotics company specializing in quadrupedal and humanoid robots. The latest C roundof funding, totaling hundreds of millions of yuan, was led by the Beijing Robotics Industry Investment Fund, with participation from Meituan Dragon Ball, Zhongguancun ScienceCity, Amber Capital, Shanghai Science and Technology Innovation Fund, Sequoia Capital China, CITIC Securities, and Peak Investment China Fund.
This marks Meituan’s second investment in U-Tree. Earlier this year, Meituan’s investment arm, led by CEO Wang Xing, participated in U-Tree’s B2 round, which raised a total of 1 billion yuan. Meituan’s subsidiary, Hanhai Information Technology (Shanghai) Co.,Ltd., is now the largest external shareholder of U-Tree, holding approximately 8% of the company’s shares.
According to IT Juzi, a commercial data platform, U-Tree’s post-investment valuation is estimated at 80 billion yuan, placing it firmly in the unicorn category (startups valued at over $1 billion). This valuation reflects the growing interest in robotics, particularly in China, where the government is actively promoting the development of the industry.
U-Tree, founded in August 2016, is a leading innovator in the field of consumer-grade high-performance quadrupedal robots.The company is one of the first in the world to commercialize quadrupedal robots, offering a range of products for research, education, and entertainment.
U-Tree’s latest funding round comes at a time of significant growth in the robotics industry. The global robotics market is expected to reach $260 billion by2027, driven by factors such as automation, artificial intelligence, and the increasing demand for robots in various sectors.
Meituan’s continued investment in U-Tree signals the company’s commitment to the robotics sector. Meituan is actively exploring new growth opportunities beyond its core food delivery business,and robotics is seen as a key area for future expansion.
The question now is whether U-Tree can live up to its $1 billion valuation and become the Chinese Figure AI. Figure AI, a US-based robotics company, is considered a leader in the field of humanoid robots. U-Treewill need to overcome several challenges to achieve similar success, including developing advanced AI capabilities, scaling production, and securing a strong market position.
However, with Meituan’s backing and its strong track record in innovation, U-Tree has a good chance of becoming a major player in the global robotics market.The company’s success could have significant implications for the future of robotics in China and beyond.
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