CloudMinds
- 🦄Became a unicorn2019
- 📈Peak valuation$3.1 Billion ’21
- 💔Became a UnitardOct 2025
- 💸Last valuationWiped out
Total raised averaged per day over approximately 10.3 years from founding to bankruptcy or shutdown. This is not measured cash burn. Methodology
The rise & fall
6 moments · 2015–2025The key moments.
How it happened
CloudMinds (达闼) was a cloud-robotics company that Huang Xiaoqing, a former China Mobile research chief also known as Bill Huang, founded in 2015 to run robots' 'brains' in the cloud.
It drew about ¥5.4B (~$780M), including roughly $300M from the SoftBank Vision Fund in 2019, and Chinese reports put its peak valuation above ¥20B, around $2.8-3.1B. A scrapped 2019 U.S. IPO and placement on the U.S. Entity List, then over-expansion across industrial, service and humanoid robots without profits, drained its cash.
After mass unpaid wages and abandoned offices, the Fangshan District People's Court in Beijing accepted a bankruptcy-liquidation case against CloudMinds Robotics (Beijing) in October 2025.
Source: 36Kr: reported peak valuation 'over ¥20 billion' (~$2.8-3.1B; a reported estimate, not a disclosed priced round) and ~¥5.4B (~$780M) total raised. Global Corporate Venturing: ~$300M SoftBank Vision Fund round in 2019. CB Insights / DealStreetAsia: ~¥1B (~$138M) Series C in July 2023 (no post-money disclosed). 36Kr (2026): the Fangshan District People's Court, Beijing accepted the bankruptcy-liquidation case of CloudMinds Robotics (Beijing) Co. on Oct 10, 2025. Placed on the U.S. Entity List in 2020. Distinct from the separately HKEX-listed Yunji Technology. Founded 2015 by Huang Xiaoqing (Bill Huang).
Founder
- Bill Huang (Huang Xiaoqing)founder, chairman & CEO (led at peak)No public profile matched
Disclosed investors (11)
Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.
* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard
