Chinese Humanoid Robot Startups Outpace U.S. in Shipments Amid Valuation Gap

Chinese humanoid robot startups have lower valuations compared to U.S. companies in the sector. For example, U.S. startup Figure has a valuation of at least $39 billion, and Apptronik reached $5 billion in February. In contrast, Chinese company Galbot has a valuation exceeding $3 billion, with investors from China, Singapore, and the Middle East.

AI2 Robotics, a Chinese firm, has a valuation of 20 billion yuan, equivalent to $2.93 billion, according to its CEO and founder Eric Guo. The company has supplied robots to a foreign high-end manufacturer for factory work, as well as to airports, semiconductor factories, and healthcare facilities in China.

Guo stated that commercialization and technological capability are not contradictory.

Chinese humanoid startups occupied the top six positions in Omdia's 2025 global robot shipment rankings. Figure and Tesla were the only U.S. companies in the top 10. Tesla's Optimus robot remains primarily in development, while a Figure robot appeared at a White House event in March.

Investors perceive U.S. humanoid startups as broad artificial intelligence platforms, while Chinese ones are seen as focused on industrial hardware, according to Rui Ma, founder of Tech Buzz China. This perception contributes to the valuation differences.

Rui Ma noted that if China dominates manufacturing scale and deployment, U.S. venture capital funds may have limited involvement.

U.S.-China tensions and national security policies have reduced cross-border investments in the sector. Large U.S. pension funds have decreased exposure to Chinese startups due to regulatory scrutiny. Middle East funds have increased investments, backing Chinese venture capital and purchasing locally developed robots as Gulf countries shift from fossil fuels.