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Robotics Is the New Real Estate, Says China Unicorn
17 Apr
Summary
- Company founded on interior design software is pivoting to AI and robotics.
- The company aims to leverage its 3D data for AI model training.
- Manycore's founder sees robotics as the next major growth sector.
Manycore Inc., a Hangzhou-based software unicorn, is strategically shifting its focus from its successful interior design platform to the burgeoning fields of robotics and artificial intelligence. The company recently completed a $156 million debut on the Hong Kong stock exchange, signaling its pivot.
Co-founder Huang Xiaohuang, who previously worked at Nvidia, believes that robotics represents the next major era of technological advancement, drawing parallels to the real estate market's past dominance. He envisions a future where intelligent devices are ubiquitous.
The company's pivot comes as Beijing implements measures to cool its property market, impacting Manycore's core business. Despite facing challenges from generative AI and regulatory scrutiny, Manycore is leveraging its vast 3D data, gathered from its Kujiale interior design tool, to train AI models. These models, SpatialLM and SpatialGen, are already enhancing its design offerings.
Manycore is also targeting new markets, including e-commerce sellers and the short-form drama sector. The company aims to earn significant revenue from additional compute usage and software subscriptions, with a strong focus on physical or embodied AI applications. It has joined other prominent tech startups in Hangzhou, highlighting the region's growing influence in AI and robotics.
