Credit: CFP

AsianFin -- When Alibaba Group CEO Eddie Wu's name appeared in the IPO prospectus of LD Robot, it stirred curiosity across China's tech and investment circles. Who is this relatively unknown robotics firm—and why is it attracting such high-profile backing?

Founded eight years ago by Zhou Wei, a 38-year-old serial entrepreneur from Xiangyang, Hubei province, LD Robot has quietly built a business around visual perception technologies for service and commercial robots.

The company holds over 250 patents, was named a national-level "Little Giant" enterprise in 2022, and claims to power more than six million smart robots globally—serving seven of the world's top 10 service robot companies and all five of the leading commercial robot manufacturers.

Yet beneath this gleaming surface lies a more complex story—one marked by near 200 million yuan ($28 million) in cumulative losses over the past three years, a deteriorating gross margin, and growing dependence on low-margin sensor sales. As LD Robot transitions from a parts supplier to a full-fledged device manufacturer, the IPO filing reveals operational challenges and mounting financial pressure.

Zhou's entrepreneurial journey began in the robotics club at Huazhong University of Science and Technology, where he studied mechanical engineering and later pursued a graduate degree in industrial engineering. In 2008, he co-founded Wuhan Robit Robotics, focused on developing special-purpose robots for commercial use.

By 2010, Zhou had partnered with investor Wu Xilong to launch Dongguan Ebot, but the collaboration soured. In 2012, Zhou exited the venture and went on to found Shenzhen-based INMOTION Technologies, which gained recognition in the self-balancing scooter space, attracting major investors such as Tisiwi Capital and Tiantu Capital. Zhou even made Forbes China's "30 Under 30" list in 2015.