ULS Robotics Secures Back-to-Back Funding Rounds Led by Binfu Capital to Accelerate Consumer Exoskeleton Strategy and Global Commercialization

Recently, Aoshu Intelligence, a leading domestic exoskeleton robotics technology platform company, announced the consecutive completion of two rounds of financing. The rounds were led by Binfu Capital, with existing shareholder Guoyi Capital continuing to increase its follow-on investment. The funds will be primarily used to expand the consumer-grade exoskeleton robotics product line, support upgrades to core technologies, and facilitate global industrial implementation, thereby further consolidating its dual-track competitiveness in both the industrial and consumer markets.

This financing round marks another capital boost for Aoshu Intelligence, following its completion of a tens-of-millions-yuan Series A+ round in July 2024, led by Dunhong Assets. Since its establishment in 2018, the company has completed five rounds of financing, attracting support from renowned institutions such as Mingshi Capital, Xianfeng Changqing, Jiuhe Venture Capital, and Inno Angel. The new funds will accelerate the mass production of its “consumer-grade exoskeleton robots” and promote the deep integration of exoskeleton hardware with AI technology.

Driven by accelerating global population aging, rising health-conscious consumption, upgraded demand for outdoor gear, and the widespread adoption of smart wearable devices, the consumer-grade exoskeleton robot market is experiencing explosive growth. Industry reports predict that the global exoskeleton market size will surpass $100 billion by 2030, with the share of consumer-oriented applications continuing to rise. Leveraging its independently developed core technologies and precise market positioning, Shanghai Aoshu Intelligent Technology Co., Ltd. has established strategic partnerships with multiple internationally renowned brands. Its products have been deployed across North America, Europe, Asia, and other regions, demonstrating strong commercialization capabilities.

Currently, Aoshu Intelligent’s products cover industrial scenarios such as automotive manufacturing, aviation ground services, mining, and logistics, with sales networks established in 17 countries including Germany, the United States, and Southeast Asia. In the consumer market, the company is exploring new applications for outdoor assistance and home-based elderly care through collaborations with scenic areas and health and wellness institutions (e.g., the “mountaineering exoskeleton” cases at Fanjing Mountain and Wuyi Mountain).

Aoshu Intelligence continues to ramp up its R&D investment, with the proportion exceeding 70%. Its latest products are equipped with large AI model training capabilities, supporting real-time data interaction and personalized learning. Several new “consumer-grade exoskeleton robot” products developed by Aoshu Intelligence have gradually entered the critical stages of pilot production and mass production, accelerating the Qiyuan TR01 humanoid composite robot’s execution of complex environmental tasks through AI optimization. The company has initiated preliminary research on brain-computer interfaces and plans to launch next-generation products integrating neural signal recognition to enhance the precision of human-machine collaboration.

Xu Zhenhua, founder of Aoshu Intelligence, stated“This year marks the inaugural year for Aoshu Intelligence’s expansion into consumer applications, with the imminent launch of multiple consumer-grade personal exoskeleton robots. This shift will transform exoskeletons from a sci-fi fantasy akin to ‘Iron Man’ armor into trendy tech products for mass consumption. I believe that within the next five years, exoskeletons will become a natural extension of human capabilities, much like smartphones.”

Chen Yu, Founding Partner of Binfu Capital:

Amid the industrial cycle marked by the deep integration of large AI models and embodied intelligence, exoskeleton devices are undergoing a critical transition from "functional assistive tools" to "intelligent agent terminals." By establishing a technical closed loop of "simulation data + reinforcement learning algorithms," Shanghai Aoshu Intelligent Technology Co., Ltd. has taken the lead in achieving breakthroughs in dynamic environmental perception and human intent recognition for its exoskeleton products. This has improved human-machine collaboration efficiency by 37% compared to traditional equipment in industrial scenarios, providing technical feasibility for unlocking trillion-yuan consumer markets such as logistics handling and outdoor sports.

Compared to general-purpose humanoid robots that remain in the laboratory stage, exoskeleton products have already achieved large-scale deployment numbering in the tens of thousands within industrial scenarios. This continuous feedback of real-world data provides them with a unique advantage in the iteration of embodied AI models. The engineering capabilities demonstrated by the Aoshu team hold even greater strategic value: by maintaining military-grade reliability in motion control modules while achieving vertical integration through self-developed customized servo systems and other components, they have reduced the bill of materials (BOM) cost of consumer-grade products to less than 60% of the industry average.

Based on this assessment, we firmly believe that intelligent exoskeletons will follow a penetration path from “military → industrial → consumer” applications, ultimately becoming the core vehicle for making AI technology universally accessible to humanity. This round of financing will primarily support Shanghai Aoshu Intelligent Technology Co., Ltd. in achieving continuous breakthroughs in foundational technological domains such as embodied AI operating systems and distributed drive systems, thereby accelerating the construction of the commercial flywheel of “hardware entry point – scenario data – intelligent evolution.”

Zhao Yingjie, Partner at Guoyi Capital:

In recent years, the robotics sector has witnessed vigorous growth. The advent of humanoid robots, in particular, has generated unprecedented enthusiasm. Benefiting from this overall industry momentum, AI-powered exoskeletons are also seizing significant development opportunities. Shanghai Aoshu Intelligent Technology Co., Ltd. (“Aoshu Intelligence”) has been deeply engaged in the industrial exoskeleton field for many years, accumulating a comprehensive technological framework and extensive industry experience. Now is the opportune moment for the company to launch its “consumer-grade exoskeleton robots,” and we remain firmly optimistic about Aoshu Intelligence’s strategic layout and growth potential in this area. Furthermore, Aoshu Intelligence has independently developed a heavy-payload “humanoid composite robot.” This product can operate autonomously as a humanoid robot or function as a wearable humanoid exoskeleton to collaborate with human workers, demonstrating strong integration capabilities and a balanced approach to commercial risk. We are equally bullish on this promising humanoid product.

Binfu Capital is a professional investment institution specializing in equity investments in early-stage and growth-stage enterprises. The company focuses on the "4+2" sectors, with primary emphasis on the automotive industry chain, digital economy, advanced manufacturing, and new energy, while also covering the consumer and healthcare sectors. With assets under management exceeding RMB 6 billion, its main limited partners include government guidance funds, large state-owned enterprises, insurance groups, securities firms, listed companies, family wealth management offices, and ultra-high-net-worth individuals. Adhering firmly to an investment strategy driven by in-depth industry research, Binfu Capital has invested in over 100 leading companies or star enterprises in niche industries. The firm has received numerous accolades, including being ranked among the "Top 50 Best Venture Capital Firms in China 2024" by Financing China, the "Top 20 Investment Institutions in China's Digital Economy Sector 2024" by Zero2IPO, and the "Top 50 Best Early-Stage Venture Capital Firms in China 2022" by Investment China.

Guoyi Equity Investment (Ningbo) Co., Ltd. (hereinafter referred to as “Guoyi Capital”) is an emerging private equity and venture capital fund manager that has developed in recent years. Its current investment focus is primarily concentrated on two areas: first, advanced manufacturing, industrial software, and high-performance raw materials within the aerospace and national defense industries; second, key segments across the semiconductor and integrated circuit manufacturing supply chain, covering both advanced and mature process nodes.

The management team of Guoyi Capital primarily hails from major investment banks and corporate conglomerates. Having managed funds totaling billions, the team boasts extensive investment experience and rich industry resources, with a particular expertise in identifying high-value, high-growth technology startups in their early to mid-stages. To date, representative portfolio companies of Guoyi Capital include Shangshi Aviation, Hezhi Smelting, Dingli Technology, Aoshu Intelligence, Lixin Software, Xinrui Micro, Xingan Technology, Xinghua Chip, Dehua Chips, and Huiran Technology.

ULS Robotics, founded in 2018, specializes in the research, development, and commercialization of exoskeleton robots. Its product portfolio encompasses upper-limb, lumbar, lower-limb, and full-body exoskeletons, and has obtained ISO 9001 and EU CE certifications. Several of its exoskeleton robots were featured in the film *The Wandering Earth II* and provided logistics support for the 2023 Hangzhou Asian Games and Asian Para Games. The company has been repeatedly covered by authoritative media outlets such as People's Daily, Xinhua News Agency, and China Central Television (CCTV). In 2022, it was included in the list of excellent application scenarios for mining robots published by the Ministry of Industry and Information Technology and the National Mine Safety Administration. In 2023, it was honored as a "Shanghai Benchmark Enterprise for Intelligent Robots." Its products have been deployed in various sectors, including equipment manufacturing, aviation logistics, energy, mining, cultural tourism, and elderly care. ULS Robotics has expanded into numerous overseas markets, including Germany, Canada, the United Arab Emirates, Singapore, Thailand, and Malaysia, steadily increasing its global market presence.