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AsianFin -- Just months ago, Beijing-based Noetix Robotics was on the brink — short on customers and burning through investor funds. Now, the humanoid robotics startup, founded in 2023 by 27-year-old Tsinghua University dropout Jiang Zheyuan, is suddenly a rising star in China’s booming AI industry.
The company’s turning point came in April when its waist-high N2 robot finished second in the world’s first half-marathon for humanoids, a televised event that catapulted the brand into the national spotlight.
Since then, Noetix has doubled its staff to 100, is producing 10 robots a day at its new assembly facility, and is on track to ship 2,000 units this year. The company is now seeking to raise $35 million at a $200 million valuation — nearly matching all the capital it’s secured to date.
“Most of our robots were sold after the marathon,” Jiang said in an interview with Bloomberg Television. “The company’s financial health will be much stronger moving forward.”
At roughly $6,000, the N2 model is priced well below competitors such as Unitree’s G1, and Noetix operates on thin margins to undercut bigger players. Jiang likens the company’s pricing strategy to Xiaomi’s early challenge to Apple — offering functionality at a fraction of the cost to win market share.
The strategy appears to be paying off. Noetix is attracting interest from event organizers, museums, and research institutions. It’s also in discussions with potential distributors in Europe and the Middle East. Future plans include building two more factories and ramping up production to 10,000 robots annually by 2026. Jiang aims to eventually lower costs enough to make humanoid robots affordable for everyday households.
Noetix’s rise reflects China’s broader ambition to lead in next-generation robotics and reduce reliance on foreign technology, a priority for President Xi Jinping. Industry giants like Unitree and EngineAI — recently backed by Tencent, Alibaba, and ByteDance-linked funds — are preparing more sophisticated humanoids for roles in logistics, security, and public services.
Despite its momentum, Noetix remains vigilant. After the N2’s public debut, Jiang began requiring visitors to cover their phone cameras to guard against intellectual property theft. Having nearly gone bankrupt last year after overexpanding too quickly, Jiang is now focused on cost control, maintaining two years of cash runway, and targeting a potential IPO in Hong Kong by 2026.
Noetix is also navigating geopolitical risks. While most components are domestically sourced, its robots still rely on chips from Intel and STMicroelectronics. Jiang said he’s already identified local alternatives should U.S.-China tensions escalate. “We’re preparing for extreme scenarios,” he noted.
The company is not slowing down. Building on its marathon fame, Noetix is preparing its N2 and a new, taller humanoid model for competition at an upcoming robotics sporting event at Beijing’s iconic Bird’s Nest stadium, where they’ll participate in gymnastics and track and field events.
“Leaving my PhD was the right call,” Jiang said. “If I hadn’t, I might have treated that as a fallback. Now, I have no choice but to make this work.”
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