Embodied intelligence financing exceeds 90 billion in six months, investment logic shifts from "backflip" to "bricklaying"

As of 2026, more than half of the year has passed, and the financing heat in the field of embodied intelligence remains high. Data from IT Orange shows that in the first half of 2026, the total financing amount in the domestic embodied intelligence field has exceeded 90 billion yuan, a fivefold increase compared to the same period last year; there were over 300 financing events, a 137% year-on-year increase. In March and June alone, the number of financing events in a single month exceeded 60. As we enter July, companies such as Xingdong Era and Moki Intelligence have successively announced billion-dollar financing rounds as the new norm. From the recent flurry of financing events, it is evident that the direction of capital inflow, valuations, and the key players in the logic and game are all undergoing profound changes. Interviews with multiple institutions have revealed that the investment logic in the field of embodied intelligence is no longer just about flashy headlines like "robots doing backflips," but rather investors are more focused on which companies can prove themselves in real product lines and find an irreplaceable position in complex ecosystems. Discussions about bubbles may have taken a back seat, and the key question worth paying attention to is: after the water recedes, who will be able to stand on the reef, and who will only be swept along by the currents and unable to get ashore.