(Yicai) July 14 -- LimX Dynamics has raised nearly USD200 million in a pre-initial public offering financing round that the Chinese humanoid robot manufacturer will use to advance and commercialize its core technologies, it said today.

The proceeds will be used to further develop the integration of a robot's large-brain and small-brain technologies, which combine artificial intelligence reasoning with motion control in a unified system, to support the large-scale deployment of thousands of fully autonomous humanoid robots and to expand the company's global market presence, the Shenzhen-based firm said.

Participants included US private equity firm IDG Capital, Chinese smart hardware manufacturer Lens Technology, pan European investment firms Gerber Goldschmidt Group and Redstone VC, Chinese investors WestSummit Capital and Hefei Binhu Industry Development Group as well as the United Arab Emirates’ Stone Venture, which has invested in multiple consecutive funding rounds, LimX said on its WeChat account.

LimX, which was founded in 2022, has raised USD400 million in the last six months, including USD200 million in a Series B round completed in January.

LimX will further strengthen its global manufacturing and delivery capabilities, with a particular focus on expanding its footprint in the Middle East, Europe and other Asian markets, the company said. It will also continue building an open ecosystem for developers worldwide to accelerate innovation and commercialization of embodied AI technologies.

LimX has two full-sized humanoid robots, the LimX Oli and LimX Luna, on the market as well as the Tron modular robot series designed for research institutions. The company said it has secured thousands of orders to date, with more than half coming from overseas.

Financing activity in China's embodied AI sector has surged this year thanks to rapid advances in AI, growing expectations that leading robotics firms will pursue IPOs and continued government policy support.

Total funding in the sector surged six-fold in the first half from the same period last year to CNY93.5 billion (USD13.8 billion), according to venture capital data provider ITjuzi. The number of financing deals soared 137 percent to 322.

Editor: Kim Taylor