Cloud Depth Technology Files for STAR Market IPO, Seeks About $3.5B Valuation

Cloud Depth Technology, a Hangzhou-based quadruped robot maker spun out of a Zhejiang University lab, had its STAR Market IPO filing accepted on May 18.

The company plans to raise about 2.503 billion yuan on the Shanghai Stock Exchange to expand R&D and manufacturing capacity.

It is the third firm from Hangzhou’s “Seven Dragons” to pursue a listing, highlighting growing momentum in the city’s robotics sector.

The move adds to rising investor interest in legged robots for inspection, rescue, and other industrial uses.