DEEP Robotics
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| DEEP Robotics | |
|---|---|
| General information | |
| Full name | Hangzhou Yunshenchu Technology Co., Ltd. |
| Chinese name | 杭州云深处科技有限公司 |
| Founded | November 29, 2017 |
| Founders | Zhu Qiuguo (CEO), Li Chao |
| Headquarters | Xihu District, Hangzhou, Zhejiang, China |
| Industry | Robotics, Embodied AI |
| Products | Quadruped robots, humanoid robots, wheel-leg hybrid robots, robot joint actuators |
| Employees | ~350 (2026 estimate) |
| Valuation | Over 10 billion yuan (~$1.5 billion, 2026 IPO filing) |
| 2025 revenue | 337 million yuan (~$49.6 million) |
| Website | deeprobotics.cn |
DEEP Robotics (formally Hangzhou Yunshenchu Technology Co., Ltd.; Chinese: 杭州云深处科技有限公司) is a Chinese robotics company headquartered in Hangzhou, Zhejiang Province, that designs, manufactures, and deploys quadruped robots, humanoid robots, wheel-leg hybrid robots, and robot joint actuators for industrial inspection, emergency response, research, and commercial applications. Founded on November 29, 2017, by Zhu Qiuguo and Li Chao, both doctoral graduates of Zhejiang University, the company built its reputation through the Jueying series of quadruped robots before expanding into humanoid form factors with the DR01 in 2024 and the DR02 in 2025.[1][2]
DEEP Robotics reports approximately 85% market share in power industry inspection applications and over 90% share in firefighting robotics within China, with products deployed across more than 40 countries. In 2025 the company posted its first profitable year, recording net profit of 28.7 million yuan (about $4.2 million) on revenue of 337 million yuan (about $49.6 million), a roughly sevenfold revenue increase over 2023. On May 18, 2026, DEEP Robotics filed for an initial public offering on the Shanghai Stock Exchange's STAR Market, seeking to raise about 2.5 billion yuan ($367 million) at a valuation exceeding 10 billion yuan (around $1.5 billion).[3][4][5][28][29]
DEEP Robotics is one of the "Six Little Dragons of Hangzhou" (杭州六小龙), a group of technology startups with roots at Zhejiang University that also includes DeepSeek, Unitree Robotics, Game Science, BrainCo, and Manycore Tech.[6]
DEEP Robotics was founded on November 29, 2017, by Zhu Qiuguo and Li Chao. Both founders hold doctoral degrees from Zhejiang University's College of Control Science and Engineering. Zhu Qiuguo, born in November 1982, had served as an associate professor and PhD adviser at Zhejiang University, where his research focused on bionic robotics and machine intelligence. As an undergraduate, Zhu participated in ZJUDancer, a student team that built small humanoid soccer robots for the RoboCup international robotics competition. He was guided by Professor Xiong Rong at the College of Control Science and Engineering. Zhu has cited his RoboCup experience as formative, noting that "competitions force you to bridge theory and real-world problem-solving" and that the experience taught him to integrate theoretical knowledge with practice.[1][6][7]
Zhu decided to launch his own company after observing the progress of Boston Dynamics in legged locomotion. After graduating from Zhejiang University in 2011, he continued working at the university as an associate professor until founding DEEP Robotics in 2017. The company's Chinese name, Yunshenchu (云深处), translates roughly to "deep in the clouds," reflecting an aspiration for depth and innovation.[1][2]
Within months of its founding, DEEP Robotics launched the first generation of its Jueying quadruped robot. The name "Jueying" (绝影) comes from a legendary horse ridden by Cao Cao during China's Three Kingdoms period, symbolizing speed and reliability. This first product established the company's identity as a legged robotics specialist and laid the groundwork for what would become a comprehensive product lineup.[1][8]
During its first three years, DEEP Robotics focused on refining its core quadruped locomotion technology. The company developed proprietary actuators, balance control algorithms, and terrain adaptation systems through iterative improvements to the Jueying platform. These early products were primarily used in research settings and proof-of-concept demonstrations, establishing DEEP Robotics' technical credibility in legged locomotion control.
The company attracted early venture capital investment during this period, though specific details of its seed and Series A funding rounds have not been publicly disclosed. The technical team grew steadily as the company recruited engineers and researchers from Zhejiang University and other Chinese institutions with expertise in reinforcement learning, computer vision, and mechatronics.[2]
The launch of the Jueying X20 in August 2021 marked DEEP Robotics' transition from a research-focused startup to an industrial robotics company. The X20 was China's first industrial-grade IP66 waterproof quadruped robot, capable of carrying payloads up to 85 kg, operating for over two hours under load, and traversing grass, sand, snow, gravel, and standing water. Equipped with long-distance communication systems, bi-spectrum pan-tilt-zoom (PTZ) cameras, gas-sensing equipment, and omnidirectional cameras, the X20 was deployed in earthquake disaster relief drills, hazardous environment detection, and post-disaster search and rescue scenarios.[9]
The X20's industrial-grade environmental hardening set DEEP Robotics apart from competitors offering research-oriented quadrupeds. The IP66 rating meant the robot could operate in heavy downpours, sand and dust storms, frigid temperatures, and hail. This capability opened up commercial opportunities in power utility inspection, mining, petrochemical facilities, and emergency services, where robots must function in conditions too dangerous or difficult for human workers.[9]
In October 2022, DEEP Robotics secured a Series B investment led by a consortium including Cybernaut Investment Group, F&G Venture, and West Lake Science and Technology Direct Investment Fund. The company subsequently completed over 1 billion yuan in total funding during 2023 across additional rounds, enabling significant expansion of its product lineup, manufacturing capacity, and sales operations.[2][10]
In March 2023, DEEP Robotics launched the Jueying Lite3, a compact quadruped platform designed for education and research. Weighing between 12.2 and 13.5 kg depending on configuration, the Lite3 could perform front flips, horizontal jumps, and high jumps, demonstrating advanced dynamic locomotion control. It supported both ROS1 (Noetic) and ROS2 (Foxy), provided an open SDK, and was adopted by institutions including University College London and the University of Edinburgh for quadruped locomotion research. The Lite3 Basic Edition was priced at approximately $2,745, making it accessible to academic budgets.[11][12]
In October 2023, the company introduced the Jueying X30, pushing environmental tolerance further with an IP67 rating and the ability to climb industrial stairs at 45-degree angles. The X30 represented the industry's first quadruped robot capable of operating in temperatures ranging from -20 degrees Celsius to 55 degrees Celsius. The X30 Pro variant weighed 59 kg and featured enhanced autonomous navigation capabilities, including the ability to operate in darkness, strong light, flickering conditions, and even without any light source.[13][14]
The year 2024 marked two significant expansions of DEEP Robotics' product portfolio. In August 2024, the company unveiled the DR01, its first humanoid robot, at the 2024 World Robot Conference in Beijing. Standing 170 cm tall and weighing approximately 80 kg with 12 degrees of freedom, the DR01 served as a technology demonstrator that validated the transfer of quadruped locomotion algorithms to bipedal walking. At the conference, the robot climbed stairs, walked over steel bars, and maintained balance after being pushed, pulled, and struck from behind.[15][16]
In November 2024, DEEP Robotics unveiled the Lynx M20, described as the world's first wheeled-legged robot designed for extreme industrial environments. The Lynx combined wheeled feet with quadruped legs, allowing it to switch between walking and rolling depending on terrain. Weighing 33 kg and priced at $17,999, the Lynx M20 could clear obstacles up to 80 cm tall, tackle 45-degree slopes, and reach a maximum speed of 18 km/h on flat terrain. It introduced a new hybrid locomotion category to DEEP Robotics' product lineup.[17]
The company reported 2024 revenue growth exceeding 100% compared to 2023, driven primarily by increasing demand for its industrial quadruped platforms in power inspection and emergency response applications.[3]
In October 2025, DEEP Robotics launched the DR02, marketed as the world's first humanoid robot with a full-body IP66 waterproof and dustproof protection rating. Standing 175 cm tall and weighing 65 kg with 31 degrees of freedom, the DR02 represented a dramatic improvement over the DR01 prototype. It featured dexterous five-fingered hands, 275 TOPS of computing power from an NVIDIA Jetson AGX Orin processor, 6 to 8 hours of battery life, and a modular quick-detach design for rapid on-site maintenance.[18]
In December 2025, the company completed its Series C funding round, raising over 500 million RMB (approximately $71 million; reported by some outlets as $68 million). The round was co-led by China Merchants Bank International (CMB International) and China Asset Management, with participation from China Telecom, China Unicom, Yunhui Capital, China Fortune-Tech Capital, the Zhejiang University Education Foundation, Shoucheng Capital, Fortune Venture Capital, and CRHC Fund. This round valued DEEP Robotics at approximately 8 billion yuan ($1.1 billion), establishing the company as a unicorn. CEO Zhu Qiuguo said the proceeds would advance embodied AI from "isolated breakthroughs" to "system-level empowerment," adding that the company would "continue to increase R&D investment, attract more outstanding talent, and further strengthen the development of both quadruped and humanoid robots."[3][4][29]
Following the Series C, DEEP Robotics signed a tutoring agreement for domestic listing with China Securities Co. Ltd., Zhong Lun Law Firm, and Pan-China Certified Public Accountants LLP on December 8, 2025. The tutoring period was scheduled to run through June 2026, after which the company planned to file for an IPO on a mainland Chinese stock exchange. DEEP Robotics projected robot shipments of 10,000 units for 2025.[4][5]
On May 18, 2026, DEEP Robotics filed for an initial public offering on the Shanghai Stock Exchange's STAR Market, seeking to raise about 2.5 billion yuan ($367 million) at a post-issue valuation exceeding 10 billion yuan (around $1.5 billion). The prospectus disclosed the company's first full year of profitability: 2025 net profit of 28.7 million yuan (about $4.2 million) on revenue of 337 million yuan (about $49.6 million), up from 103 million yuan in 2024 and roughly seven times the company's 2023 revenue. Gross margin rose to 52.8% from 33.5% the prior year. The filing also noted that humanoid robot sales remained small, with only four units sold across 2024 and 2025, and that government subsidies contributed more than one-third of 2025 net profit, underscoring how early-stage the commercial market for humanoids remains.[5][28][29]
According to the prospectus, IPO proceeds are earmarked for the "research and development of embodied AI algorithms and large models, the design of new robot bodies, and the expansion of manufacturing capacity," primarily to scale production of the DR02 humanoid platform. The filing placed DEEP Robotics within a broader wave of Chinese robotics listings; rival Unitree Robotics filed for its own STAR Market IPO in March 2026 and received the exchange's green light in June 2026.[28][29]
DEEP Robotics produces a portfolio of robots spanning industrial quadrupeds, research quadrupeds, wheel-leg hybrids, humanoid robots, and robot joint actuators.
| Model | Year | Type | Weight | Key Features | Target Applications | Price |
|---|---|---|---|---|---|---|
| Jueying (1st gen) | 2017 | Quadruped | N/A | First product; named after Cao Cao's horse | Research, demonstration | N/A |
| Jueying X20 | 2021 | Industrial quadruped | ~70 kg | IP66; 85 kg payload; -20 to 55 degrees C | Hazard detection, rescue, inspection | Contact sales |
| Lite3 | 2023 | Research quadruped | 12.2-13.5 kg | Front flips; ROS1/ROS2; open SDK | Education, research | From $2,745 |
| Jueying X30 / X30 Pro | 2023 | Industrial quadruped | 56-59 kg | IP67; 45-degree stairs; -20 to 55 degrees C | Power tunnels, substations, factories | Contact sales |
| Lynx M20 / M20 Pro | 2024 | Wheel-leg hybrid | 33 kg | 80 cm obstacle clearance; 18 km/h max; IP54 | Search and rescue, inspection, logistics | From $17,999 |
| DR01 | 2024 | Humanoid | ~80 kg | 12 DOF; 1.6 m/s walk; J60/J100 joints | Technology demonstration | Prototype |
| DR02 | 2025 | Humanoid | 65-75 kg | 31 DOF; IP66 full-body; 275 TOPS; 6-8 hr battery | Industrial, security, logistics, inspection | ~$200,000 (est.) |
The Jueying X20, launched in August 2021, was DEEP Robotics' first industrial-grade quadruped robot and China's first IP66-rated waterproof quadruped. It was designed as a complete solution for hazard detection and rescue operations in environments too dangerous for human workers.
| Parameter | Value |
|---|---|
| Protection rating | IP66 |
| Maximum payload | 85 kg (187.9 lb) |
| Operating temperature | -20 degrees C to 55 degrees C |
| Obstacle clearance | 20 cm (7.8 in) |
| Maximum slope | 35 degrees |
| Runtime | >2 hours under load |
| Sensor modules | Bi-spectrum PTZ camera, gas sensors, omnidirectional camera, long-distance comms |
The X20 integrates a wide range of application modules including a long-distance communication system, bi-spectrum pan-tilt-zoom camera, gas-sensing equipment, omnidirectional camera, and audio pickup. It can step over 20 cm obstacles and climb 35-degree slopes. The robot was deployed in earthquake disaster relief drills across China, hazardous environment detection at chemical and industrial facilities, and post-disaster search and rescue scenarios.[9]
DEEP Robotics positioned the X20 as the foundation of its industrial business, and the platform's commercial success in power utility inspection provided the revenue base that funded subsequent product development.
The Jueying Lite3, launched in March 2023, is a compact quadruped robot designed for education, research, and entertainment applications. It is offered in four configurations: Basic, Venture, Pro, and LiDAR, with increasing levels of sensor capability and computational power.
| Parameter | Value |
|---|---|
| Weight | 12.2-13.5 kg (variant-dependent) |
| Dimensions (standing) | 610 x 370 x 450 mm |
| Walking load capacity | 4 kg (6.5 kg continuous for Pro) |
| Maximum slope | 40 degrees (Pro) |
| Stair capability | 18 cm continuous height |
| Endurance | 1.5-2 hours (~5 km per charge) |
| Software support | ROS1 (Noetic), ROS2 (Foxy), open SDK |
| Starting price | ~$2,745 (Basic) |
The Lite3 can perform front flips, horizontal jumps, and high jumps, demonstrating advanced dynamic locomotion control. Its open development environment supports secondary development with C-based SDKs and graphical debugging tools for both Windows and Linux. The Pro model adds front and rear obstacle stop, visual following, and forward obstacle avoidance capabilities. The Lite3 has been adopted by institutions worldwide for research in quadruped locomotion, sim-to-real transfer, and reinforcement learning.[11][12]
The Jueying X30, introduced in October 2023, is DEEP Robotics' flagship industrial quadruped designed for autonomous inspection in harsh environments. The X30 Pro variant carries an IP67 protection rating, making it fully dust-tight and capable of withstanding temporary immersion in water.
| Parameter | Value |
|---|---|
| Weight (with battery) | ~59 kg (X30 Pro) |
| Dimensions (standing) | 1000 x 715 x 470 mm |
| Protection rating | IP67 |
| Operating temperature | -20 degrees C to 55 degrees C |
| Maximum slope | 45 degrees |
| Obstacle clearance | 20 cm |
| Degrees of freedom | 12 (3 per leg) |
| Autonomous navigation | Yes (operates in darkness, strong light, no light) |
The X30's integrated perception system enables fully autonomous navigation in environments without GPS signals, including underground tunnels and enclosed substations. In January 2025, Singapore Power Group deployed an X30 (nicknamed "SPock") for autonomous power tunnel inspections, marking the first overseas deployment of a Chinese quadruped robot in a power system. The robot completed full-station inspections in under 35 minutes, compared to over an hour for human patrols, while reducing operational costs by approximately 70% and increasing substation operating efficiency by more than 50%.[13][14][19]
The X30 is deployed in cooperation with major utility companies including the State Grid Corporation of China, China Southern Power Grid, and Baosteel for substation inspection, factory patrol, and tunnel monitoring.[20]
The Lynx M20, unveiled in November 2024, is a wheel-leg hybrid robot that combines wheeled feet with quadruped legs. This dual-mode design allows it to roll on flat surfaces for speed and efficiency, then switch to walking mode for obstacle traversal and rough terrain.
| Parameter | Value |
|---|---|
| Weight | 33 kg |
| Payload (walking) | 15 kg |
| Maximum load capacity | 50 kg |
| Maximum speed | 18 km/h (wheeled mode) |
| Operating speed | 7.2 km/h (wheeled mode) |
| Maximum obstacle height | 80 cm (single step) |
| Continuous stair height | 25 cm |
| Maximum slope | 45 degrees |
| Gap traversal | 50 cm minimum width |
| Endurance (unloaded) | 3 hours / 15 km range |
| Endurance (loaded) | 2.5 hours / 12 km range |
| Protection rating | IP54 |
| Starting price | $17,999 |
The Lynx M20 is equipped with a 96-line LiDAR sensor providing a 360-degree by 90-degree field of view, enabling autonomous navigation with omnidirectional obstacle avoidance. The robot features hot-swappable batteries and supports modular expansion for mission-specific payloads. It targets applications in search and rescue, field inspection, scientific exploration, and urban logistics. DEEP Robotics has demonstrated the Lynx M20 Pro solving the "last 50 feet" problem in urban logistics, navigating between delivery vehicles and building entrances across stairs, curbs, and uneven surfaces.[17][21]
The DR01, unveiled at the 2024 World Robot Conference in Beijing on August 21, 2024, was DEEP Robotics' first humanoid robot. Standing 170 cm tall and weighing approximately 80 kg, it featured 12 degrees of freedom powered by proprietary J60 lightweight joints and J100 high-torque joints. The DR01 was designed as a research platform to validate the transfer of quadruped locomotion algorithms to bipedal walking rather than as a commercially deployable product.
The DR01 achieved a walking speed exceeding 1.6 m/s, could navigate steps up to 18 cm in height and slopes up to 25 degrees, and demonstrated strong disturbance rejection when pushed and struck during live demonstrations. Its "fusion perception" learning algorithm combined proprioceptive and exteroceptive data for adaptive gait control. The DR01 served as the foundation for the second-generation DR02.[15][16]
The DR02, launched on October 9, 2025, is DEEP Robotics' second-generation humanoid robot and the centerpiece of the company's humanoid strategy. It is marketed as the world's first humanoid robot with a full-body IP66 protection rating, enabling deployment in rain, dust, and temperature extremes from -20 degrees Celsius to 55 degrees Celsius.
| Parameter | Value |
|---|---|
| Height | 175 cm (5 ft 9 in) |
| Weight | 65-75 kg |
| Degrees of freedom | 31 |
| Standard walking speed | 1.5 m/s (5.4 km/h) |
| Maximum speed | 4 m/s (14.4 km/h) |
| Total payload | 20 kg (10 kg per arm) |
| Step height | 25 cm |
| Computing power | 275 TOPS (NVIDIA Jetson AGX Orin) |
| Sensors | 3 depth cameras, 1 wide-angle camera, LiDAR |
| Battery life | 6-8 hours |
| Hands | Five-fingered dexterous hands |
| IP rating | IP66 (full body) |
| Modular design | Quick-detach forearms, arms, and legs |
| Estimated price | ~$200,000 |
The DR02 achieved significant improvements over the DR01, including nearly triple the degrees of freedom (31 vs. 12), a weight reduction of 15 kg despite added sensors and hands, 6-8 hours of battery life aligned with industrial shift durations, and a modular quick-detach system that reduces maintenance downtime. DEEP Robotics frames the value of such machines bluntly, with CEO Zhu Qiuguo describing the ultimate purpose of humanoid robots as "replacing humans in performing unsuitable and hazardous work." In December 2025, DEEP Robotics demonstrated the DR02 performing Tai Chi and street dance movements to showcase whole-body coordination, active waist control, and smooth motion transitions.[18][22][29]
In addition to complete robot platforms, DEEP Robotics designs and sells proprietary joint actuators that are used both in its own robots and offered as components for other robotics developers.
| Joint Model | Peak Torque | Torque Density | Weight | Protection | Communication |
|---|---|---|---|---|---|
| J60-6 | 19.94 Nm | 41.54 Nm/kg | 0.48 kg | IP67 | CAN bus, serial |
| J60-10 | N/A | 56.48 Nm/kg | N/A | IP67 | CAN bus, serial |
| J100-116P | 315 Nm | 107.5 Nm/kg | N/A | IP67 | EtherCAT (up to 30 joints) |
The J60 series integrates a reducer, frameless torque motor, servo driver, and absolute value encoder into a single compact unit. It features battery-free absolute multi-turn encoders for enhanced pose accuracy and comes with SDK (C-based) and graphical debugging tools for Windows and Linux. The J100 series is designed for high-torque applications, with the J100-116P achieving a torque density of 107.5 Nm/kg that DEEP Robotics describes as an industry benchmark. The J100's high-speed EtherCAT communication supports real-time coordination of up to 30 joints, making it suitable for complex multi-joint robots including humanoids.[23][24]
DEEP Robotics' core technical strength lies in legged locomotion control, developed through years of quadruped robot research and refined across multiple product generations. The company employs a "fusion perception" learning algorithm that combines two types of sensory data: proprioceptive data (the robot's internal state, including joint positions, velocities, and forces) and exteroceptive data (environmental perception from external sensors such as cameras and LiDAR). This combined approach allows the robot to dynamically adjust gait and balance in response to terrain changes and external disturbances.[15]
The locomotion system uses reinforcement learning and sim-to-real transfer to train robots in simulation before deploying learned policies on physical hardware. This approach enables DEEP Robotics' robots to autonomously generate new behavioral skills rather than relying on fixed pre-programmed gaits. The Lite3 platform is specifically used by the company and external researchers for developing and testing these reinforcement learning locomotion policies.[11][15]
DEEP Robotics has developed extensive expertise in environmental protection for legged robots, progressing from IP66 (X20, 2021) to IP67 (X30, 2023) for quadrupeds, and achieving IP66 for a full humanoid body (DR02, 2025). Achieving IP66 protection on a humanoid is considerably more challenging than on a quadruped because the humanoid has more joints, more complex articulation patterns, and exposed hand mechanisms that must remain functional while sealed against water and dust ingress.[18]
All industrial robots and joint actuators from DEEP Robotics are designed to operate across a temperature range of -20 degrees Celsius to 55 degrees Celsius, covering conditions from cold storage facilities to hot industrial workshops.
Beginning with the Lynx M20's hot-swappable batteries and extending to the DR02's quick-detach limb system, DEEP Robotics has embraced modular design as a core engineering principle. The DR02's modular system allows rapid on-site replacement of forearms, entire arms, and entire legs, with left and right modules being interchangeable. DEEP Robotics states this reduces maintenance downtime from days to hours, supporting 5- to 10-year equipment lifecycles that industrial customers require.[18]
DEEP Robotics maintains a public GitHub organization (DEEPRoboticsLab) with open-source resources for its Lite3 platform, including simulation environments and control interfaces compatible with ROS1 and ROS2. The Lite3's open SDK has facilitated its adoption by universities worldwide and has been integrated into third-party research frameworks for quadruped locomotion and reinforcement learning. The company's full industrial platforms (X20, X30) and humanoids (DR01, DR02) are proprietary commercial products rather than open-source hardware.[11][25]
DEEP Robotics has raised funding across multiple rounds from more than 26 investors, progressing from undisclosed early venture rounds to a 2025 Series C and a 2026 STAR Market IPO filing.
| Round | Date | Amount | Notable Investors |
|---|---|---|---|
| Series B | October 2022 | Undisclosed | Cybernaut Investment Group, F&G Venture, West Lake Science and Technology Direct Investment Fund |
| Series B+ | 2023 | Undisclosed (part of >1 billion yuan total in 2023) | Various |
| Series C | December 2025 | CMB International (co-lead), China Asset Management (co-lead), China Telecom, China Unicom, Yunhui Capital, China Fortune-Tech Capital, Zhejiang University Education Foundation, Shoucheng Capital, Fortune Venture Capital, CRHC Fund | |
| STAR Market IPO | Filed May 18, 2026 | Public offering, Shanghai Stock Exchange |
The December 2025 Series C round valued the company at approximately 8 billion yuan ($1.1 billion), establishing DEEP Robotics as a unicorn. Key investors across all rounds include JD.com, China Asset Management Company, China Fortune-Tech Capital, China Telecom, and China V Fund, among over 26 total investors.[3][4][10]
On December 8, 2025, DEEP Robotics signed a tutoring agreement for a domestic listing with China Securities Co. Ltd. as the sponsor, Zhong Lun Law Firm as legal counsel, and Pan-China Certified Public Accountants LLP as auditor. The IPO tutoring period ran from December 2025 through mid-2026. On May 18, 2026, the company formally filed for an IPO on the Shanghai Stock Exchange's STAR Market, seeking to raise about 2.5 billion yuan ($367 million) at a valuation exceeding 10 billion yuan (around $1.5 billion).[4][5][28]
The prospectus revealed that 2025 was DEEP Robotics' first profitable year, with net profit of 28.7 million yuan (about $4.2 million) on revenue of 337 million yuan (about $49.6 million). Revenue tripled from 103 million yuan in 2024 and represented roughly a sevenfold increase over 2023, while gross margin climbed to 52.8% from 33.5% the prior year. Two disclosures temper the headline numbers: government subsidies contributed more than one-third of the 2025 net profit, and humanoid robot sales remained negligible at only four units across 2024 and 2025, indicating that the company's revenue still rests overwhelmingly on its industrial quadruped business rather than humanoids.[5][28][29]
The IPO bid places DEEP Robotics alongside a wave of Chinese robotics companies seeking public listings. Competitor Unitree Robotics completed its own IPO tutoring on November 15, 2025, filed for a STAR Market IPO in March 2026, and received the exchange's listing approval in June 2026.[5][26][28]
DEEP Robotics claims a dominant position in several industrial segments within China. The company reports approximately 85% market share in power industry inspection applications and over 90% share in firefighting robotics. Across all legged robot application scenarios, the company claims an overall market share exceeding 80% in China. The company was the first enterprise in China to deploy fully autonomous quadruped robots for power station inspections.[3][20]
DEEP Robotics' client base spans power utilities, industrial manufacturing, construction, emergency services, and academic research.
| Sector | Notable Clients/Partners |
|---|---|
| Power utilities | State Grid Corporation of China, China Southern Power Grid, Singapore Power Group |
| Industrial manufacturing | Baosteel, Lenovo, SUPCON, Fluke |
| Construction | Takenaka Corporation (Japan) |
| Academic research | University College London, University of Edinburgh |
| Emergency services | Various Chinese firefighting agencies |
As of early 2026, DEEP Robotics reports approximately 600 deployments across more than 40 countries, with coverage spanning all 34 provincial-level regions in China and 44 countries and regions overseas. The company has served more than 100 clients in 26 provinces and cities across China. Notable international deployments include Singapore Power Group's use of the X30 for underground power transmission tunnel inspection (the first overseas deployment of a Chinese quadruped robot in a power system) and industrial factory automation projects in South Korea involving quadruped robots for line meter recognition, tray handling, and component picking. The company has also participated in drill missions such as earthquake disaster relief exercises and the Hangzhou Asian Games tunnel inspection operations.[14][19][20]
DEEP Robotics competes in two primary markets: industrial quadruped robots and humanoid robots.
In the global quadruped robot market, DEEP Robotics' primary competitors include Boston Dynamics (with the Spot platform), Unitree Robotics (with the Go2, B2, and other models), and ANYbotics (with the ANYmal platform). Boston Dynamics and Unitree lead in total hardware shipments, while DEEP Robotics has carved out strong positions in industrial inspection, particularly in the Chinese power utility and emergency response sectors. DEEP Robotics differentiates through IP66/IP67 environmental protection, high payload capacity (85 kg for the X20), and deep vertical integration with power industry workflows.[27]
With the DR01 and DR02, DEEP Robotics entered the rapidly expanding humanoid robot market. The DR02's primary competitive differentiation is its IP66 all-weather capability, which no other full-size humanoid robot matched as of early 2026. While competitors such as Unitree have achieved dramatically lower price points (the G1 at $16,000, the R1 at $5,900), these robots are designed primarily for indoor or controlled environments. The DR02 targets a different market segment: high-value industrial deployments where environmental resilience justifies a premium price. The company's own IPO prospectus, however, shows the humanoid market remains nascent, with only four humanoid units sold across 2024 and 2025.[18][28]
| Company | Key Robot | Approx. Price | Differentiator |
|---|---|---|---|
| DEEP Robotics | DR02 | ~$200,000 | IP66 all-weather; 6-8 hr battery |
| Unitree Robotics | G1 | $16,000 | Low cost; open ecosystem |
| Figure AI | Figure 02 | ~$100,000 | Helix VLA; BMW deployment |
| Tesla | Optimus | $20,000-$30,000 (target) | Manufacturing scale |
| Boston Dynamics | Atlas (electric) | Undisclosed | 56 DOF; Hyundai backing |
| UBTECH | Walker S | Undisclosed | Automotive factory deployment |
| AgiBot | Various | Varies | High-volume Chinese manufacturer |
DEEP Robotics' transition from quadrupeds to humanoids mirrors a broader industry pattern. Multiple Chinese quadruped robot manufacturers, including Unitree Robotics (which started with the A1 and Go1 quadrupeds), have expanded into humanoid form factors. The shared technical foundations in legged locomotion control, actuator design, and balance algorithms make quadruped experience a natural springboard for humanoid development.[18]
| Name | Role | Background |
|---|---|---|
| Zhu Qiuguo (朱秋国) | Founder and CEO | PhD from Zhejiang University; former associate professor and PhD adviser at ZJU; participated in ZJUDancer/RoboCup |
| Li Chao | Co-founder | PhD from Zhejiang University |
Zhu Qiuguo serves as the CEO and primary public representative of DEEP Robotics. His academic background in bionic robotics and machine intelligence at Zhejiang University's College of Control Science and Engineering, combined with his early exposure to competitive robotics through ZJUDancer and RoboCup, shaped the company's technical direction. Zhu was born in November 1982 and served as an associate professor at Zhejiang University until founding DEEP Robotics in 2017.[1][6][7]
DEEP Robotics is frequently cited as one of the "Six Little Dragons of Hangzhou" (杭州六小龙), an informal grouping of technology startups based in Hangzhou that have achieved national prominence. The six companies are Game Science (developer of Black Myth: Wukong), DeepSeek, Unitree Robotics, DEEP Robotics, BrainCo, and Manycore Tech. Among these, the founders of DeepSeek, DEEP Robotics, and Manycore Tech are all alumni of Zhejiang University, highlighting the university's outsized role in China's technology startup ecosystem.[6]
A book titled Hangzhou Code: How the "Six Little Dragons" Took Flight was published in late March 2025, documenting the origins and growth of these companies and sparking national discussions about Hangzhou's rise as a global innovation hub.[6]