Chinese Robot Startup Reaps Rewards After High-Profile Race

Just a few months ago, Noetix Robotics was struggling to find a single customer for its Hobbit-sized robots. Founder Jiang Zheyuan was nervous about burning through investors’ money quickly. Then one of its N2 models placed second in the world’s first half-marathon for robots.

Now, the Beijing startup founded by the 27-year-old Tsinghua dropout is on track to deliver 2,000 robots by the end of the year. It’s in talks to raise roughly $35 million at a $200 million valuation — about as much funding as it’s secured since its inception in 2023. The company’s staff has doubled to 100, with half of them working on a newly built production floor that churns out 10 bots per day, Jiang said in an interview.