Chinese robotic maker DexForce Technology plans Hong Kong IPO, Bloomberg reports

DexForce Technology, a Shenzhen-based robotics and artificial intelligence company, is considering a Hong Kong listing, which could raise a few hundred million US dollars, Bloomberg reported, citing people familiar with the matter.

The Chinese robot maker has held preliminary talks with potential advisers regarding the initial public offering, the people said.

Established in 2021, the company specializes in humanoid robots and embodied AI technologies. Its products and solutions apply to industrial automation, home appliances, logistics, and warehousing. DexForce raised 1 billion yuan in a Series B funding round, with its post-money valuation exceeding 10 billion yuan. Investors included Shenzhen Capital Group and ICBC Capital, among others.

Chinese robotics companies have been rushing to pursue Hong Kong listings in recent months to raise funds for technology development. Meanwhile, multiple sources of capital, ranging from venture capital firms and automakers to government-backed funds, are flowing into embodied AI, which involves developing bipedal or wheeled humanoid robots.

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