Chinese robot start-up reaps rewards after 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.

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Now, the Beijing start-up 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, Mr Jiang said in an interview.

"Most of our robots are sold after the marathon race," Mr Jiang told Bloomberg Television. "The financial status of our company will be way better."

Noetix has undergone a profound transformation since the April race, which was broadcast across China. Its N2 robot, which costs about $6,000, accomplished what most of the field couldn't — it actually finished the race. The ensuing publicity drew interest from investors as well as a wide range of customers, from event planners to museums and research institutes. Prospective sales partners in Europe and the Middle East have also taken note.