In mid-2025, the humanoid robotics industry experienced an unprecedented wave of financing, marking a significant shift as established internet titans spearheaded investments. Unlike previous years, this surge saw active participation from companies like Tencent, Alibaba, JD.com, and Meituan, who are betting big on embodied intelligence and embodied robot technologies. This trend highlights a strategic pivot towards next-generation robotics, with these giants positioning themselves at the forefront of innovation. The influx of capital is not just about funding; it represents a deeper commitment to integrating embodied intelligence into various sectors, from logistics to consumer services, signaling a potential transformation in how robots interact with the physical world.
The embodied intelligence sector, which focuses on robots that can perceive, learn, and act in real-world environments, has become a hotbed for investment. Companies are racing to develop embodied robot systems that combine advanced AI with physical capabilities, aiming to create machines that can perform complex tasks autonomously. This report delves into the strategies of key players, their investments, and the implications for the future of embodied intelligence. As these internet behemoths pour resources into this field, questions arise about whether this marks the dawn of commercial robotics or merely another capital-driven frenzy. The following sections explore the detailed moves of each company, their unique approaches, and the collaborative dynamics shaping the industry.
1. Meituan’s Dominant Stance in Robotics Investments
Meituan has emerged as a powerhouse in the embodied intelligence arena, with public records indicating investments in approximately 30 robotics and related enterprises over the past three years. This aggressive strategy has led industry observers to describe Meituan as having “acquired half the robotics track.” One of the standout companies in its portfolio is宇树科技 (Yushu Technology), which gained widespread attention after appearing in the Spring Festival Gala and is now rumored to be undergoing IPO preparations. According to Tianyancha data, as of July 18, Yushu’s founder Wang Xingxing remains the largest shareholder, while Meituan’s subsidiary, Hanhai Information Technology (Shanghai) Co., Ltd., holds about an 8% stake, making it the second-largest shareholder.
Meituan’s involvement in embodied intelligence dates back to early 2024, when its investment arm, Meituan Longzhu, participated in two funding rounds for Yushu Technology. Although Yushu had been operating for over seven years at that point, the company was still considered “affordable” for investors, and Meituan’s backing played a crucial role in attracting further institutional interest. A senior executive from a Meituan-backed robotics firm, who spoke on condition of anonymity, noted that Meituan’s CEO Wang Xing has a keen intuition for new technologies, and the company has been actively involved in hardware R&D and tech investments, even if public perception often limits Meituan to its food delivery services.
The foundation for Meituan’s push into embodied intelligence was laid in 2022, when CEO Wang Xing publicly stated that while Meituan started with software, its business expansion necessitates hardware integration. This vision was formalized in 2021 with the “Retail + Technology” strategy, which emphasized investments in AI, drone delivery, and autonomous vehicles. By the end of 2022, Meituan established the Meituan Robotics Research Institute in Shenzhen, led by Mao Yinian, Vice President of Meituan and head of its drone business, who serves as the institute’s chairman and dean. Mao emphasized that Meituan’s diverse scenarios enable rapid deployment of embodied robot technologies in life services, creating a symbiotic relationship between online and offline operations.
In late 2024, Mao Yinian disclosed at the Meituan Robotics Research Institute Academic Annual Conference that the institute had formed over 40 research collaborations with more than 20 universities and institutions globally, including Tsinghua University, Shanghai Jiao Tong University, Harbin Institute of Technology, and Hong Kong University of Science and Technology. Meituan’s investments span various embodied intelligence companies, such as立镖机器人 (Libiao Robotics),未来机器人 (Future Robots),九识智能 (Jiushi Intelligence),非夕机器人 (Flexiv Robotics),银河通用机器人 (Galaxy Universal Robotics), and宇树科技 (Yushu Technology). These moves underscore Meituan’s commitment to leveraging embodied intelligence to enhance its core services, from delivery to retail, and position itself as a leader in the embodied robot ecosystem.
2. Tencent’s Ecosystem-Driven Approach to Embodied Intelligence
Tencent has taken a distinct path in the embodied intelligence landscape, focusing on building an open, collaborative platform ecosystem rather than competing directly in hardware manufacturing. In 2025, Tencent invested in at least two prominent embodied robot companies,智元机器人 (Zhiyuan Robotics) and宇树科技 (Yushu Technology), adding to earlier investments in乐聚 (Leju) and优必选 (Ubtech). Despite holding stakes in key players like Yushu and Zhiyuan, Tencent’s primary identity remains that of an enabler, mirroring its strategies in social, content, and payment sectors.
At the 2025 World Artificial Intelligence Conference (WAIC), Tencent unveiled its embodied intelligence open platform, Tairos (short for “Titanium Screw”), which comprises three core model layers and cloud services. This platform offers modular capabilities for robot manufacturers, including basic models, scene data collection, training simulation, and real-device deployment. Zhang Zhengyou, Tencent’s Chief Scientist, shared the backstory of Tencent’s embodied intelligence journey, revealing that when the Tencent Robotics X Lab was founded in early 2018, the lack of mature hardware partners in China forced the company to develop both hardware and software in-house. However, by 2023, the explosion of large model technologies, spurred by ChatGPT, led to a surge in robotics startups, prompting Tencent to shift towards a supportive role as an “enabler” for the industry.
During WAIC, a Yushu humanoid robot G1 equipped with Tairos demonstrated autonomous mobility, responding to voice commands to move through space and engage in live dialogues without remote control. The robot’s algorithm-driven behaviors produced some “surprises” in its responses, though no major issues occurred. This demonstration highlighted Tencent’s philosophy of acting as a “screwdriver” for robot manufacturers, providing foundational tools without seeking to replace them. Tencent founder Ma Huateng previously articulated this strategy, stating that Tencent aims to be a partner to all robot companies rather than making hardware itself.
Zhang Zhengyou clarified that Tencent’s current focus is on productization rather than immediate commercialization, transforming seven years of research and mature technologies into accessible products for robot manufacturers. The Tairos platform integrates deeply with Tencent’s cloud and AI services, leveraging the company’s expertise in natural language processing (NLP) and computer vision (CV). This “technology middle office” model aligns with Tencent’s industrial internet strategy, using Platform-as-a-Service (PaaS) layers to empower a broader ecosystem. An industry insider close to Tencent noted that internet giants must stay attuned to前沿科技 (cutting-edge technologies) to avoid strategic missteps and miss out on industry waves, emphasizing that embodied intelligence represents a critical frontier for future growth.
3. Alibaba’s Low-Key Strategy in Embodied Intelligence
In contrast to its peers, Alibaba has adopted a more subdued approach to embodied intelligence, with investments that diverge from the mainstream focus on general-purpose humanoid robots. Alibaba’s portfolio includes逐际动力 (Zhuiji Dynamics) as a robotics startup, along with stakes in星海图 (Xinghai Tu),源络科技 (Yuanluo Technology), and有鹿机器人 (Youlu Robotics). These companies specialize in areas such as robot simulation training, multi-modal perception, robot cerebellum development, and general robot brains, highlighting Alibaba’s preference for foundational technologies over robot本体 (hardware bodies).
Notably, Alibaba has also invested in the listed company奥比中光 (Orbbec), which excels in machine vision, further cementing its role in the embodied intelligence supply chain. An investment professional from one of Alibaba’s portfolio companies revealed that Alibaba initially maintained a low profile about its investments, discouraging public announcements to avoid drawing attention. This aligns with Alibaba’s presentation at the 2025 WAIC, where it promoted its human-computer interaction entry point, the “Kuafu AI Glasses,” instead of humanoid robots. Alibaba’s Damo Academy showcased an embodied intelligence development platform for education, emphasizing modular design and integration with its Tongyi large models, targeting “embodied intelligent agents” rather than physical robot bodies.
Another robotics industry investor explained that Alibaba’s布局 (layout) reflects its ecosystem role as a infrastructure provider for embodied intelligence. Similar to Huawei, which has only invested in千寻智能 (Qianxun Intelligence) through its venture arm Hubble Technology, Alibaba positions itself as a “water seller” in the AI industry—supplying chips, software accelerators, and simulation tools without venturing into end-products like humanoid robots. This strategy avoids conflicts with downstream applications and allows Alibaba to concentrate on its strengths in云计算 (cloud computing) and AI, supporting the growth of embodied robot technologies from the sidelines.
4. JD.com’s Expansive Robotics “Friendship Circle”
JD.com has made a splash in the embodied intelligence space with a series of high-profile investments over three months, targeting five robotics companies and establishing itself as having the “widest friendship circle” in the industry. By the end of July, JD.com had invested in RoboScience,智元机器人 (Zhiyuan Robotics),千寻智能 (Qianxun Intelligence),逐际动力 (Zhuiji Dynamics), and众擎机器人 (Zhongqing Robotics), covering diverse forms such as humanoid robots, quadruped robot dogs, robotic arms, and cooking robots.
JD.com’s foray into embodied intelligence began a year earlier, with multiple teams exploring different pathways for implementation. The company’s investment style emphasizes scene synergy and deep connectivity, as evidenced by its “new外卖模式 (food delivery model)”—Qixian Little Kitchen—which utilizes cooking robots from橡鹿科技 (Xianglu Technology), a company JD.com exclusively invested in during 2023 and 2024. At WAIC, JD.com launched its embodied intelligence brand, JoyInside, focusing on software solutions to embed large model interaction capabilities into hardware, addressing the短板 (shortcomings) in consumer interaction that many robots face.
He Xiaodong, Senior Vice President of JD.com and Vice Dean of the JD.com Exploration Research Institute, outlined the rationale behind JD.com’s密集投资 (intensive investments) in embodied intelligence: first, as a strategic long-term commitment; second, as an integral part of JD.com’s service ecosystem that benefits from embodied intelligence advancements; and third, as a broad view of embodied intelligence beyond humanoid robots, encompassing any system with “brain + cerebellum + I/O” capabilities. JD.com’s extensive supply chain and diverse scenarios—from logistics and services to finance, industry, and home use—provide fertile ground for testing and deploying embodied robot technologies.
According to JD.com, its industrial large models, built on operational datasets from vertical scenarios, enable efficient collaboration with embodied intelligence. This synergy allows JD.com’s real-world applications to serve as testing grounds for robot companies, generating iterative data, while mature products can achieve scale through JD.com’s supply chain, creating a closed-loop ecosystem of “scene feedback-commercialization.” JD.com stated that its rich layout in embodied intelligence aligns with its positioning in supply chain technology and services, offering opportunities to quickly identify value-creating prospects in authentic environments. He Xiaodong affirmed that JD.com’s investments and strategic recognition of embodied intelligence are long-term and “will definitely not stop here.”
5. The End of “Kings Avoiding Kings”: Collaborative Trends Among Giants
A notable shift in the embodied intelligence investment landscape is the erosion of traditional barriers between internet giants, who are now co-investing in the same projects without the former “kings avoiding kings” mentality. In late July, amid intense competition in food delivery, JD.com announced investments in three embodied intelligence companies, including逐际动力 (Zhuiji Dynamics), which was initially backed by Alibaba Group. Similarly,宇树科技 (Yushu Technology), once primarily funded by Meituan Longzhu, now counts Tencent and Alibaba among its shareholders after its Series C round.
This trend extends to other prominent projects like智元机器人 (Zhiyuan Robotics),银河通用 (Galaxy Universal), and星海图 (Xinghai Tu), where multiple internet giants have overlapping investments. This collaboration marks a departure from the era of mutual exclusion and competition, as giants have already carved out their dominant scenarios, and embodied intelligence companies—especially those in general humanoid robotics—require diverse resources and场景探索 (scene exploration) from various partners. Consequently, seeing giants share shareholder lists has become commonplace.
The融资现状 (financing situation) in embodied intelligence, as highlighted by金沙江创投 (GSR Ventures) Zhu Xiaohu, underscores a reality: in 2025, as humanoid robots have yet to achieve initial commercialization, the gap between top-tier projects and others has widened significantly. The market has reached a point where leading companies face no shortage of funding, while others struggle to secure investments. With limited options, internet giants naturally converge on a few star projects, fostering an environment of cooperation over competition. This dynamic could accelerate the development of embodied intelligence and embodied robot technologies, pooling resources to overcome technical and commercial hurdles.
6. Future Outlook for Embodied Intelligence and Embodied Robots
The surge in investments from internet giants signals a pivotal moment for embodied intelligence, with the potential to drive rapid advancements in embodied robot capabilities. As companies like Meituan, Tencent, Alibaba, and JD.com integrate these technologies into their ecosystems, the focus will shift from funding to practical applications, such as autonomous delivery, industrial automation, and personalized services. However, challenges remain, including the high costs of development, regulatory hurdles, and the need for robust AI models that can handle complex real-world interactions.
Industry experts predict that embodied intelligence will evolve beyond humanoid forms to include a variety of specialized embodied robots tailored to specific tasks. The collaborative investments among giants could lead to standardized platforms, similar to Tencent’s Tairos or JD.com’s JoyInside, which would lower entry barriers for smaller players and foster innovation. Moreover, as embodied robot technologies mature, they could address labor shortages, enhance efficiency, and create new business models, ultimately transforming industries from healthcare to retail.
In conclusion, the embodied intelligence boom represents a strategic bet on the future of robotics, with internet giants playing a central role in shaping its trajectory. While questions about commercialization persist, the collective efforts of these companies suggest that embodied robots are poised to become an integral part of daily life, driven by continuous innovation and cross-industry collaboration. The coming years will likely see increased integration of embodied intelligence into mainstream applications, marking a new era where robots and humans coexist more seamlessly.
| Company | Invested Entities | Focus Areas | Notable Developments |
|---|---|---|---|
| Meituan | Yushu Technology, Libiao Robotics, Future Robots, Jiushi Intelligence, Flexiv Robotics, Galaxy Universal Robotics | Service robots, drone delivery, autonomous vehicles | Established Meituan Robotics Research Institute; Holds 8% stake in Yushu Technology |
| Tencent | Zhiyuan Robotics, Yushu Technology, Leju, Ubtech | Open platform ecosystem, AI integration, simulation training | Launched Tairos platform; Focus on productization over hardware |
| Alibaba | Zhuiji Dynamics, Xinghai Tu, Yuanluo Technology, Youlu Robotics, Orbbec | Simulation, multi-modal perception, machine vision | Low-profile strategy; Emphasis on infrastructure and education platforms |
| JD.com | RoboScience, Zhiyuan Robotics, Qianxun Intelligence, Zhuiji Dynamics, Zhongqing Robotics, Xianglu Technology | Supply chain integration, consumer interaction, diverse robot forms | Introduced JoyInside brand; Investments in cooking and logistics robots |
The embodied intelligence sector is rapidly evolving, with these investments paving the way for breakthroughs in embodied robot autonomy and adaptability. As the industry moves forward, the synergy between technological innovation and real-world application will be crucial in determining the success of embodied intelligence in transforming global economies and societies.