Two Hangzhou Robotics Firms Led by Ex-Alibaba Execs Plan Hong Kong IPOs
SCMP · 1 SOURCESabout 3 hours ago2 MIN
Summary
Another two Chinese robotics start-ups have confirmed plans to launch initial public offerings in Hong Kong as early as next year, boosting the city's role as a prime fundraising hub for China's fast-growing technology sector. The two Hangzhou-based firms – both founded by former executives at Alibaba Group Holding – are part of a wave of Chinese embodied artificial intelligence start-ups looking to go public as the industry rushes to scale up production .
Key Points
- Infiforce Technology Group, developer of the cognitive system "AtomBrain" for robots, is aiming for a Hong Kong listing in 2027
- Infiforce completed a new funding round of nearly 1 billion yuan (US$149 million) earlier this month
- The company secured a 1,000-unit contract in Saudi Arabia and has begun fulfilling overseas orders
- Founder Isabella Bai is a former Alibaba vice-president; the company was founded in 2023
- UDeer.ai is launching its IPO process including restructuring red-chip structures and corporate shareholding reforms
- UDeer plans to submit its IPO application in the first half of next year; Hong Kong is its first choice
- UDeer founder Robin Chen previously led robotics research at Alibaba's Damo Academy research initiative
- UDeer already mass produces autonomous cleaning robots using large-model reasoning
Why It Matters
The dual IPO plans underscore Hong Kong's growing appeal as a listing destination for China's embodied AI sector, with both firms joining a broader wave of robotics companies seeking to capitalise on rapid industry growth and financing activity . Success of these listings could reinforce Hong Kong's position as a key gateway for Chinese technology firms accessing global capital markets.
The dual IPO plans underscore Hong Kong's growing appeal as a listing destination for China's embodied AI sector, with both firms joining a broader wave of robotics companies seeking to capitalise on rapid industry growth and financing activity . Success of these listings could reinforce Hong Kong's position as a key gateway for Chinese technology firms accessing global capital markets.