BYD (1211)- backed robotics firm PaXini is considering a Hong Kong initial public offering, with its valuation already exceeding 10 billion yuan (HK$11.59 billion), Bloomberg reported.
The Shenzhen haptics technology and humanoid robot manufacturer has since become one of the eight embodied AI companies with a valuation exceeding 10 billion yuan. It raised 1 billion yuan in its Series B financing in March.
It is reported that the company will submit an application to the Hong Kong Stock Exchange and Clearing in a few months.
PaXini's investors also include JD.com (9618), SenseTime (0020), and 14 other overseas and mainland Chinese corporations, according to Chinese media reports.
Its founding members come from the robotic laboratory in Japan’s Waseda University, the birthplace of the world's first humanoid robot. Its products include tactile sensors, dexterous hands, and the humanoid robot Tora.
