Songyan Power secures three rounds of financing in half a year.

After gaining popularity in the humanoid robot half - marathon race in April, Songyan Dynamics has announced new news.

Recently, Songyan Dynamics announced that it has completed hundreds of millions of yuan in Series A++ financing. This round was led by Jinpu Investment, with follow - on investments from BAIC Industrial Investment, CICC Capital, Jinko Power, Yunhui Capital, Youshan Capital, Zhuoyuan Asia, Yuanzhi Future, etc. This is the third round of financing completed since the first half of this year, and the cumulative number of financings has reached six rounds.

In addition, reporters from Venture Capital Daily learned that the company is also preparing for a new round of financing.

Mass - produced and delivered 105 units in July

Songyan Dynamics was established in September 2023. At the Beijing Humanoid Robot Marathon in April this year, Songyan Dynamics' "Little Rascal" N2 won the second place, thus becoming extremely popular and attracting the attention of netizens.

Currently, Songyan Dynamics has formed two major product lines. One is bipedal humanoid robots, including N2 and E1, and the other is simulated humanoid robots.

Previously, Jiang Zheyuan, the founder and chairman of Songyan Dynamics, told reporters from Venture Capital Daily that within one month after the Beijing Robot Marathon, the company received more than 1,000 orders. By June, the total order volume had exceeded 2,000 units, and the total contract value had exceeded 100 million yuan.

He revealed that in July, Songyan Dynamics mass - produced and delivered 105 humanoid robots, including 92 units of the N2 model and 13 units of the E1 model. This achievement not only represents a 176% month - on - month increase but also sets a new record for the company's highest mass production and delivery since its establishment.

Reporters from Venture Capital Daily noticed that currently, Songyan Dynamics is in a stage of rapid production capacity ramp - up. It has achieved a monthly delivery volume of over 100 units in less than two months since the start of mass production.

Jiang Zheyuan further stated, "This year is the first year of mass production for Songyan Dynamics' humanoid robots. The intended orders exceeded 2,000 units within one month after the marathon, with a contract value of over 100 million yuan. Educational teaching aids and commercial performances account for over 60%, and the demand from cultural and tourism exhibition halls has increased significantly. We need to deliver stable and reliable humanoid robot products to customers in batches. To achieve this goal, we have established production bases in Beijing, Changzhou, and Dongguan."

Along with a large number of orders comes huge delivery pressure. Jiang Zheyuan described delivery as a "gate of hell." If the production capacity cannot meet the demand and the delivery cannot be completed on time, customers will urge the company, and the communication cost will be extremely high. In addition, even if the production volume meets the expectations, there is still a risk. If the reliability of the robots after delivery is insufficient and there are a large number of damaged and repaired robots, it will be unbearable for the company. Therefore, Jiang Zheyuan held a "100 - day oath - taking meeting" with the hardware and production teams of the whole company to work hard for 100 days to solve the problems of mass production and delivery. He said, "Doing our best to complete the delivery is the most important thing this year."

The top priority is the delivery problem

In 2025, the financing in the humanoid robot track was extremely hot. In the list of domestic humanoid robot companies that received new funds at once, in addition to Unitree Robotics and Galaxy Universal, Xinghaitu, Qianxun Intelligence, and TARS were newly added. Among them, TARS refreshed the "ceiling of angel - round financing" in China's embodied intelligence track with a $120 million angel - round investment; Galaxy Universal received a large order of 1.1 billion yuan, and Unitree Robotics also reported an inflow of about 700 million yuan. Each case was enough to attract the market's attention.

Reporters from Venture Capital Daily noticed that Songyan Dynamics' current financing has received intensive support from national - level industrial funds, top - tier strategic investors, and first - tier financial investment institutions, indicating a strategic upgrade of Songyan Dynamics from "technology - driven" to "industry - collaborative."

As the leading investor, Jinpu Investment's participation has significant industry - collaborative significance. It is a national - level industrial fund with Shanghai state - owned assets background, managing assets of over 60 billion yuan, and has a far - reaching layout in the semiconductor and advanced manufacturing fields. The core technologies of humanoid robots, such as joint drive and motion control algorithms, are essentially the cross - fields of semiconductors, precision manufacturing, and AI algorithms. Jinpu Investment's post - investment empowerment experience in the intelligent manufacturing field (such as assisting enterprises in connecting with local government resources) may help Songyan Dynamics obtain support in production capacity expansion.

The participation of BAIC Industrial Investment points directly to the potential of humanoid robots in the automotive manufacturing scenario. Previously, BAIC Heavy Trucks had applied FANUC robots for high - precision spraying in the painting workshop. The technical advantages of Songyan Dynamics' N2 robot in dynamic balance and refined operation (such as the continuous somersault ability demonstrated in the half - marathon race) are exactly in line with the intelligent requirements of automobile factories for assembly and quality inspection.

In addition, Songyan Dynamics' investors also include Inno Angel Fund, SEE Fund, Tsinghua Alumni Seed Fund, Joy Ventures, Beijing Future Science City Fund, etc.

While being favored by capital, delivery has become a top - priority issue. An investor in the humanoid robot track told reporters from Venture Capital Daily that for a commercial robot company, getting orders and making deliveries are like the two wheels of a vehicle or the two wings of a bird, and neither can be missing. Only by forging strong market expansion capabilities and efficient contract - fulfillment and delivery capabilities at the same time can the entire link from business opportunity acquisition to value realization be truly opened up, forming a healthy and sustainable commercial closed - loop. "If the orders cannot be fulfilled, the valuation model may collapse instantly. Cash flow and the supply chain are the two red lines I'm most concerned about now."

He believes that the delivery bottleneck first points to the test of supply - chain resilience. The core components of humanoid robots (such as high - precision reducers, torque sensors, and AI chips) rely on global supply. A surge in orders may expose the mismatch of upstream production capacity. For example, if the production capacity planning of a core component supplier cannot keep up with the downstream demand, it will cause a "bottleneck" in the assembly of the whole machine. In this case, whether the enterprise has an alternative supplier system and can lock in the production capacity through advance orders directly affects the short - term delivery ability, which in turn is related to the customer retention rate (especially the long - term cooperation confidence of large B - end customers).

This article is from the WeChat official account "Venture Capital Daily", author: Huang Xiumei, published by 36Kr with permission.