CASBOT (Beijing Zhongke Huiling), a 2023 spin-out of the Chinese Academy of Sciences’ Institute of Automation, has closed an A++ round worth hundreds of millions of yuan, 36Kr reported on October 26, 2026 and Gasgoo on October 28. Investors were Zhilai Investment, Yonghua Investment, Maotian Investment, Oriza Chkunion, Guoke Kezhi and Luning Investment. The exact amount and valuation were not disclosed.
Why it matters: most Chinese embodied-AI rounds are priced on humanoid demos. This one is backed by an order book for one industry.
Key Facts
- Round: A++, hundreds of millions of yuan; amount and valuation undisclosed (36Kr Oct 26; Gasgoo Oct 28, 2026)
- Orders: RMB 400M+ in 2026 for shoemaking robots; thousands of units scheduled (self-reported)
- Reported performance: 7 s per outsole stamping; 18 s per pair sole pressing; payback under two years
- Previous: ~RMB 100M Series A led by Lens Technology, June 2025
What is CASBOT selling?
Embodied shoemaking robots. CASBOT says it has more than RMB 400 million in orders this year, with thousands of units scheduled for production, after multi-million-yuan orders from several large shoemakers in 2025. Its first robot went into Fujian Xinbai Sports in August 2025. The company reports cycle times of 7 seconds per outsole stamping and 18 seconds per pair for sole pressing, and an estimated annual return of 50% to 70%, with payback under two years. These figures are self-reported.
What will the money fund?
Mass production and delivery, R&D on the robots’ AI “brain” for critical tasks, and market expansion. CASBOT plans to open-source its CASBOT PA perception-to-action model in the second half of 2027. Its previous round, a Series A of nearly RMB 100 million, was led by Lens Technology in June 2025. Founder and chairman Zhang Zhengtao is a CAS researcher.
See also China’s embodied-AI capital.
Frequently Asked
What does CASBOT make?
Embodied AI robots, currently sold mainly as shoemaking systems for footwear factories. It is a 2023 spin-out of the Chinese Academy of Sciences’ Institute of Automation.
How much did CASBOT raise in its A++ round?
Hundreds of millions of yuan; the exact amount was not disclosed. Investors included Zhilai, Yonghua, Maotian, Oriza Chkunion, Guoke Kezhi and Luning.