Ge Weidong has bought a "ticket" for embodied intelligence.

The battle in the field of embodied intelligence has further intensified.

Recently, Qianxun Intelligence announced that it has successfully completed two rounds of financing totaling nearly 2 billion yuan. Among them, Hundun Investment, under the control of Ge Weidong, made an appearance. According to data from CVSource, as of now, this investment has not led to any changes in the business registration information, so the specific shareholding information of Hundun Investment cannot be seen for the time being.

However, Qianxun Intelligence has confirmed to me that Ge Weidong, through Hundun Investment, joined hands with Yunfeng Capital, Sequoia China, Synstellation Capital, TCL Venture Capital, Minghui Investment (the family office of Zhu Xingming, the chairman of Inovance Technology), Chongqing Industrial Investment Fund, Hangzhou Jintou, 360 Fund, Houxue Capital, etc. All existing shareholders also participated in the follow - on investment, taking part in the latest round of financing of Qianxun Intelligence.

Since then, Ge Weidong has also boarded the "ticket" to the field of embodied intelligence.

Qianxun Intelligence Plans an IPO, and Ge Weidong Steps In

As is well - known, as a big shot in the private equity circle, Ge Weidong has created a "billion - level" wealth myth in the semiconductor field.

Incomplete statistics show that in the primary market, Ge Weidong has successively invested in nearly 10 chip companies, including Muxi Co., Ltd., Gejian Gouzhi, Leixin Technology, Zhijing Microelectronics, Xintou Micro, Huizhi Micro, Chaogui, Higuang Information, etc. The most classic investment among them is Muxi Co., Ltd.

Financing data shows that Ge Weidong accurately bet on Muxi Co., Ltd. multiple times. In September 2022, he first invested in the Pre - B round of Muxi Co., Ltd. through Hundun Investment, contributing 200 million yuan. In 2023, he participated in the B - round financing through Hundun Investment, injecting 100 million yuan. In December of the same year, he acquired some shares through the transfer of old shares for about 62.27 million yuan.

In 2024, Ge Weidong, as an "individual investor", increased his investment again, directly participating in the fifth phase of the B - round financing with a single investment of 300 million yuan. In 2025, he further increased his investment. After an additional investment of 500 million yuan, he invested 300 million yuan through Hundun Investment in the Pre - IPO round in February of the same year.

After a series of large - scale investments, Ge Weidong has cumulatively invested more than 1.4 billion yuan in Muxi Co., Ltd. and obtained 6.73% of the equity.

In December 2025, Muxi Co., Ltd. was listed on the stock market for the first time. The closing price on the first day reached 829.9 yuan per share, directly soaring the market value of Ge Weidong's shares to 22.356 billion yuan, with a floating profit of more than 20 billion yuan and an investment return of 14 times. It is a classic case of "turning stone into gold".

So, does Ge Weidong's investment in Qianxun Intelligence this time mean that the latter also has an IPO plan? In response, Qianxun Intelligence told me that "there is indeed an IPO plan in the future, but the specific time is not convenient to disclose for the moment."

However, looking at Ge Weidong's investment, it is not difficult to find that this investment tycoon has completed a key investment in the field of embodied intelligence. Whether this investment can replicate the "billion - level myth" in the semiconductor field is worth looking forward to.

The Financing War Begins, and Three New "Billion - Dollar" Unicorns Emerge in the Track

After this round of financing, the valuation of Qianxun Intelligence has exceeded 10 billion yuan, making it a member of the "billion - level club" in the field of embodied intelligence.

Before Qianxun Intelligence, I noticed that Shenzhen also welcomed its first billion - dollar unicorn at the beginning of the year. Recently, Zhipingfang announced that it had completed a Series B financing of over 1 billion yuan, with a post - investment valuation of over 10 billion yuan.

Looking at these two newly - emerged "billion - dollar unicorns", it is obvious that in the past year, they have both received high recognition from capital, and the participating institutions are all top - tier.

First, let's talk about Qianxun Intelligence. In the past year, it has completed three rounds of financing. Although the financing frequency is not particularly high, the institutions involved are all well - known. In March 2025, Qianxun Intelligence completed its Pre - A round of financing, raising 528 million yuan. The investors included Prosperity7 Ventures, China Merchants Group Venture Capital, GF Xinde, etc.

Among them, Prosperity7 Ventures is a diversified US - dollar fund under Aramco Ventures. Qianxun Intelligence is one of the embodied intelligence companies it has invested in in China.

In July 2025, Qianxun Intelligence also won the favor of JD Group. The latter, together with China Internet Investment Fund and Zhejiang Science and Technology Innovation Fund, participated in the Pre - A+ round of financing. Coupled with this round of financing after the new year, Qianxun Intelligence has raised more than 3.1 billion yuan in total within a year, becoming one of the most "money - attracting" unicorns in the track.

For Zhipingfang, its financing pace can be described as "soaring". It has completed 12 rounds of financing in the past year. Data shows that the capital investing in Zhipingfang is very impressive. There are not only industrial giants such as Baidu Strategic Investment, CRRC Capital, and many listed companies in the Tesla ecosystem, but also Yunbai Capital, Fortune Capital, Shenzhen Capital Group, Dunhong Assets, SDIC Chuangying, Guotai Haitong, and many local industrial funds.

The intensive capital injection has enabled Zhipingfang to quickly secure its position as a billion - dollar unicorn. In terms of financing scale, it has also raised more than 2 billion yuan in the past year.

It is worth noting that the financing boom of these two companies is not an isolated case. Looking at the entire track, the financing war in the field of embodied intelligence has been spreading rapidly. A set of data shows that within the past three months, the total disclosed financing in the track has exceeded 15 billion yuan. More notably, the single - round financing scale of leading enterprises is generally over 1 billion yuan.

In addition to Qianxun Intelligence and Zhipingfang, Xinghaitu also announced in February that it had completed a 1 - billion - yuan Series B financing, led by Jinding Capital, BAIC Capital Investment, etc. After this round of financing, Xinghaitu's valuation immediately exceeded 10 billion yuan, becoming another industry unicorn.

In fact, almost at the same time, other players have also been very active: Zhujidongli completed a $200 - million (about 1.4 - billion - yuan) Series B financing in February, with JD and NIO Capital participating; Daxiaorobot completed its angel - round financing, led by Ant Group; Zibianliang Robot completed a nearly 1 - billion - yuan Series A++ financing in January, with ByteDance and Sequoia China making an appearance; in the same month, Zhejiang Humanoid Robot Innovation Center completed a 450 - million - yuan Pre - A round of financing, supported by Lenovo Capital and Ningbo Jinkong...

It can be said that for a moment, there have been frequent good news in the track, and the capital boom is surging.

With the emergence of three new unicorns, the list of the "billion - level club" in the field of embodied intelligence has expanded to six. At the same time, compared with the previous billion - dollar unicorns such as Unitree Robotics, Galaxy Universal, and Zheyuan Robotics, the new players are also showing a trend of catching up.

Why Do Companies Announce Financing Results Intensively Around the Spring Festival?

Under the financing boom, a detail worthy of attention is: why do players in the track choose to announce their financing results around the Spring Festival?

This may be related to seizing the time window and sending a definite signal of "the strong get stronger" to the outside world. An investor said that on the one hand, around the Spring Festival, it is an important "technology parade" node in the industry. Enterprises can seize the market's right to speak by demonstrating their abilities such as performing high - difficulty actions and cluster cooperation, or through offline scenario implementation.

Second, announcing the financing results is essentially a strategic game. By making the announcement, enterprises can send a clear signal to the industrial chain and the capital market in a timely manner. Especially at a time when capital is increasingly concentrated in the hands of leading enterprises, financing is not only about raising money but also about showing off one's strength and influence.

Previously, at the 2025 Shanghai World Artificial Intelligence Conference (WAIC), I learned that 2026 is regarded as the first year of the commercialization of embodied intelligence. If an enterprise has sufficient "ammunition", it can lock in the supply - chain production capacity for the whole year, expand the R & D team, and accelerate the deployment of production lines.

The above - mentioned investor said that especially in the robot track where hardware iteration is extremely fast, a six - month lead may only translate into a one - year market gap. "Therefore, in the fierce competition, the one who can complete the capital reserve first will be able to take the initiative in the subsequent 'mass - production test' and avoid falling behind in the fierce delivery competition."

Ultimately, in this long - distance race, unicorns are competing not only in terms of their "physique" but also in terms of their technological imagination, capital endurance, and commercialization implementation ability.

Especially in terms of the technological route, I noticed that different from the early unicorns that mostly started from the hardware body or single - motion control, the new players generally focus on the "expertise" of robots, that is, the evolution speed of the "brain", which determines the level of valuation.

Taking the three new players as an example, they have all chosen the VLA (Vision - Language - Action) technological path. However, under this technological foundation, they have each developed their own unique "tricks".

For example, Gao Yang, the co - founder and chief scientist of Qianxun Intelligence, revealed that at the data - collection level, the company has reduced the data - collection cost by 90% through self - developed equipment. Under the "diversity" route, it has accumulated more than 200,000 hours of multi - type real - interaction data, and it is expected that the total amount will exceed 1 million hours in 2026.

Zhipingfang is committed to a fully self - developed embodied large - scale model, focusing on solving the problems of robots' understanding and decision - making in unstructured environments, and striving to achieve a leap from "pre - programmed execution" to "autonomous understanding and execution". Xinghaitu focuses on the in - depth integration of "spatial intelligence" and "3D perception", emphasizing that robots can not only "see" planar images but also "understand" the depth - space relationship.

In short, the three new unicorns all pay more attention to improving the adaptability and generalization ability of robots in real - world scenarios, which is also the key point of current industry competition and the core anchor point for capital to give high valuations.

In terms of capital endurance, in addition to traditional financial investors, "industrial capital" has almost become a standard feature of the new unicorns.

Among these three unicorns, industrial capital is frequently seen. Behind Qianxun Intelligence stand CATL, Inovance Technology, TCL, and JD; Zhipingfang has attracted the attention of Baidu Strategic Investment, CRRC Capital, and enterprises in the Tesla ecosystem; Xinghaitu has received strong support from Jinding Capital, BAIC Capital Investment, etc., with an obvious automotive - industry gene. It can be said that the entry of industrial capital has dispelled the concerns of capital about "unable to implement technology".

In addition, compared with the previous years - long R & D precipitation, the new unicorns have shown amazing "speed" in commercialization. It is an undisputed fact that whether it is Qianxun Intelligence, Zhipingfang, or Xinghaitu, it has only taken less than two years from establishment to the release of the prototype and then to the factory - level actual test. In terms of the commercialization process, the speed of implementation is astonishing.

With the arrival of the "commercialization year" of embodied intelligence in 2026, opportunities and risks are destined to coexist. For the new unicorns, how to continuously maintain their first - mover advantage and convert the funds into real product strength and delivery ability may be the key to supporting their "billion - level valuation".

This article is from the WeChat official account "China Venture Capital". Author: Chen Mei, Editor: Wang Qingwu. Republished by 36Kr with permission.