CASBOT closes an A++ round worth several hundred million yuan to scale its shoemaking and mining robots
The AMW Read
Mid-size CN humanoid round that updates a known roster player; RMB 400M+ in vertical orders adds commercialization evidence but does not shift the segment.
CASBOT closes an A++ round worth several hundred million yuan to scale its shoemaking and mining robots
Beijing-based CASBOT (中科慧灵), a humanoid and embodied-AI robotics company founded in 2023, has closed an A++ round of several hundred million yuan. The headline's "multi-billion" wording overstates the amount. Zhilai Investment, Yonghua Investment, Maotian Investment, Yuanhe Chenkun, Guoke Kezhi and Luning Investment invested jointly. The round follows an A round of nearly RMB 100M (~$14M) in June 2025, led by Lens Technology. CASBOT builds its own robot bodies, dexterous hands and an embodied model called CAS-brain. Its products include the full-size CASBOT 02 humanoid, the wheeled-arm W2 and the half-size Mini. The company says the new money will go to mass-production delivery, model R&D and market expansion.
In humanoid robotics, investors now care more about orders than demos, and CASBOT has numbers to show. It says it holds more than RMB 400M (~$56M) in orders for shoemaking robots, with production scheduled in the thousands of units. It also published cycle times from a footwear plant in Putian: 7 seconds per outsole stamp and 18 seconds per pair for sole pressing. Its lightweight CASBOT PA perception-to-action model can be trained on a single consumer GPU. That points to a strategy of task-specific deployment rather than chasing general-purpose humanoids. CASBOT also has a mining joint venture with Shandong Zhaojin Group and Shandong Zhongkuang Group, which is field-testing explosive-charging robots underground.
CASBOT's projected 50-70% annual ROI and payback of under two years are company estimates, not audited results. Investors should check how many of the thousands of scheduled units are actually delivered and accepted on production lines. Builders should note that CASBOT's data comes from narrow, repeatable factory stations rather than open-ended general-purpose tasks.