Hangzhou Deep Robotics Technology Co., Ltd. (DEEP Robotics) is a leading player in the embodied intelligence space and a prominent member of the renowned "Hangzhou Six Little Dragons." The company specializes in the R&D and industry application of quadruped robots, wheeled-legged robots, and humanoid robots, and is currently sprinting toward an IPO on the STAR Market.
Core Profile
| Item | Information |
|---|---|
| Company Full Name | Hangzhou Deep Robotics Technology Co., Ltd. |
| Founded | November 29, 2017 |
| Founder | Zhu Qiuguo (also Associate Professor and Doctoral Supervisor at Zhejiang University) |
| Headquarters | Xihu District, Hangzhou City, Zhejiang Province |
| Core Fields | R&D, production, and sales of quadruped robots, wheeled-legged robots, humanoid robots, and core components |
| Market Position | In 2025, ranked first globally in revenue from quadruped robot industry applications, and second globally in total quadruped robot revenue |
Latest IPO Progress
DEEP Robotics has entered a critical phase in its capital operations:
STAR Market Application Accepted: On May 18, 2026, the Shanghai Stock Exchange formally accepted DEEP Robotics' STAR Market IPO application, marking a significant step forward in its listing process.
Core Financial Performance: According to the prospectus, the company is in a high-growth phase and has already achieved profitability—a relatively rare accomplishment in the robotics sector.
Revenue: Reached RMB 337 million in 2025, with a compound annual growth rate (CAGR) of 159.51% from 2023 to 2025.
Profitability: Achieved net profit attributable to shareholders of RMB 28.684 million in 2025, turning from loss to profit.
Gross Margin: Benefiting from economies of scale, gross margin increased to 52.83% in 2025.
Fundraising Plan: In this IPO, DEEP Robotics plans to raise RMB 2.503 billion, primarily for embodied intelligence algorithm and model R&D, robot body industrialization, and facility construction.
Technology and Product Roadmap
While many robotics companies are chasing the "humanoid" trend, DEEP Robotics has chosen a differentiated path—entering through B-side mission-critical scenarios and deeply cultivating industry applications.
Core Product Portfolio:
Jueying X Series: Industry-grade quadruped robots, priced at approximately RMB 287,500 per unit. This is the company's primary revenue driver, contributing RMB 196 million in 2025. Capable of operating in temperatures from -20°C to 55°C with IP67 protection rating, they are specifically designed for power inspections, emergency rescue, and other complex environments.
Jueying Lite Series: Primarily targeting the scientific research and education sector.
Mountain Cat M Series: The world's first industry-grade wheeled-legged robot purpose-built for complex terrain, offering both high speed and superior obstacle-crossing capabilities. This is emerging as the company's second growth curve.
Humanoid Robot DR02: An industry-grade all-weather humanoid robot released in 2025, featuring IP66 protection rating. It remains in the early stages of commercialization.
Key Deployment Scenarios:
Power Inspection: This is DEEP Robotics' core strength, commanding an 85% market share. Its robots have been deployed in over 100 substations of State Grid and China Southern Power Grid, replacing manual labor in hazardous inspection areas. They reduce operation and maintenance costs by approximately 70% with a recognition accuracy of 96.5%.
Other Fields: Beyond power, products are widely used in emergency response, firefighting, police security, industrial maintenance, and other sectors, with exports to over 45 countries and regions including the United States, Germany, and South Korea.
Funding and Shareholder Background
As a hot target in the capital market, DEEP Robotics has completed 11 funding rounds since its inception, backed by an impressive roster of shareholders.
Strategic Investors: Include the National AI Industry Investment Fund (Phase III of the Big Fund), JD.com, China Telecom, and China Unicom.
Prominent VC/PE Firms: CMB International, China Asset Management, Fortune Capital, Lenovo Capital, Sequoia China, Hillhouse Ventures, Matrix Partners, and others are among its shareholders.
Official Website: https://www.deeprobotics.cn/