Chinese robotics developer Coowa is advancing plans for an initial public offering in Hong Kong, with the company aiming to submit an IPO application within the next two to three months. The move follows a recent fundraising round that raised in excess of $600 million and pushed the company's valuation above $3 billion.
Advisers on the intended listing include Huatai Securities and Deutsche Bank, which are assisting Coowa with the preparation and filing process. The company counts SoftBank Group among its backers, and the Asian Infrastructure Investment Bank is identified as an additional investor.
Founded in 2015 and headquartered in Shanghai, Coowa develops robots powered by artificial intelligence for use in urban environments. Its product portfolio includes wheeled platforms, wheel-legged units and humanoid-like machines designed for applications across shared mobility, manufacturing and property services.
Coowa reports having deployed more than 10,000 units across upward of 50 cities and regions worldwide. Those deployments span public-facing and industrial settings, reflecting the company's focus on scalable robotic solutions for dense urban operations as well as facility-level automation.
Financially, the company delivered revenue exceeding 1 billion yuan in 2025, roughly equivalent to $147.7 million. That revenue milestone came alongside the most recent financing round, which attracted over $600 million in capital and elevated the firm's valuation to beyond $3 billion.
The planned Hong Kong offering represents the next stage in Coowa's growth strategy, seeking public-market access after rapid private expansion. Huatai Securities and Deutsche Bank's roles as advisers place the offering on a path toward a Hong Kong listing, subject to the timing of the formal submission and regulatory review.
Coowa's machines are marketed to sectors where automation and on-demand services can scale: shared mobility fleets, manufacturing lines and property service operations. The company's deployment footprint and revenue figures indicate commercial traction outside of pilot programs, though the firm remains in the process of converting private investment and operational scale into a public listing.
Quick facts
- Founded: 2015 (Shanghai)
- Recent funding: more than $600 million
- Valuation: in excess of $3 billion
- Revenue: over 1 billion yuan in 2025 (~$147.7 million)
- Deployments: more than 10,000 robots across 50+ cities and regions