DexForce explores HK IPO after raising RMB 1 billion in Series B

DexForce Technology, a Chinese humanoid robot maker, is exploring a Hong Kong IPO that could raise several hundred million USD, Bloomberg reported, citing people familiar with the matter.

The Shenzhen-based company has held preliminary talks with potential advisers, according to the report. Founded in 2021, DexForce manufactures an integrated portfolio of software and hardware products, including the EmbodiChain embodied intelligence development platform, the DexForce W1 Pro general-purpose humanoid robot and the DexSense pure-vision sensor.

The company recently raised RMB 1 billion in a Series B funding round, with a valuation exceeding RMB 10 billion. Investors included Shenzhen Capital Group and ICBC Capital, the investment arm of Industrial & Commercial Bank of China Ltd. The funding round shows strong investor interest in China's humanoid robotics sector, which has attracted significant capital as companies race to commercialize AI-powered machines for industrial and consumer applications.

DexForce competes in a market that includes Unitree Robotics and Fourier Intelligence, both of which have also raised substantial funding. China's humanoid robot market could reach USD 6 billion by 2030, according to industry estimates, supported by government backing and labor shortage concerns. The sector has drawn comparisons to the early days of the electric vehicle industry, with local governments offering subsidies and factory space to attract robotics startups.

A successful listing would give Hong Kong its first major humanoid robot IPO, tapping into investor demand for AI and robotics companies. The deal would also provide a liquidity event for DexForce's backers, who are betting on the commercialization of embodied intelligence technology. The company's product lineup targets both industrial automation and service robotics, two segments that could see rapid adoption in China's manufacturing sector.

The IPO pricing will test institutional appetite for Chinese robotics companies as US-China tech tensions persist. DexForce's listing timeline remains unclear as the company continues preliminary discussions with advisers. Investors will watch for further details on the deal size, valuation and cornerstone investor lineup in coming months.

This article is for informational purposes only and does not constitute investment advice.