Robots Backed by DeepSeek Investments and a Wave of Biotech IPOs: Key Takeaways on IPOs Through August 9

DeepSeek has invested in Unitree Robotics, a manufacturer of humanoid robots, and has become a strategic investor in its IPO, through which the company expects to achieve a valuation of $9 billion. Online retailer Shein plans to list in Hong Kong as early as mid-August with a valuation of up to $40 billion. Meanwhile, in the U.S., interest in biotech startup financings remains high: last week, Braveheart Bio raised $382.5 million, Latigo Biotherapeutics raised $345.6 million, Attovia Therapeutics raised $289 million, and BlossomHill Therapeutics raised $150 million. Check out our roundup of the week’s top events in the IPO market.

— Shein expects to be valued at $30–40 billion in its IPO on the Hong Kong Stock Exchange and to launch the offering as early as mid-August, Reuters reported, citing sources. This is significantly lower than the company’s previous valuations—in 2022, Shein was valued at $98.2 billion, and in 2023, at $64 billion. Analysts attribute the lower valuation to falling profits and profitability, as well as the business model’s reliance on preferential tariffs on small packages. After its plans for a listing in New York and London fell through, the company received approval from Beijing for an IPO in Hong Kong and reported a loss of $99 million in the last quarter.

— Chinese AI startup DeepSeek has invested 140.8 million yuan ($20.8 million) in humanoid robot manufacturer Unitree Robotics, acquiring a 2.31% stake as part of a strategic pre-IPO investment, Reuters reported. On August 10, Unitree will begin accepting applications from investors to participate in its IPO on the STAR Market in Shanghai, hoping to raise about 6.1 billion yuan ($904 million) at a company valuation of 61 billion yuan ($9 billion), according to Bloomberg. The companies have also agreed to jointly develop AI models for humanoid robots, combining DeepSeek’s expertise with Unitree’s engineering capabilities. Amid preparations for the IPO, Unitree’s 36-year-old founder and CEO, Wang Xingxing, became a billionaire: Forbes estimated his net worth at $2.4 billion. By the end of 2025, Unitree had shipped more than 5,500 humanoid robots, increased its revenue to 1.7 billion yuan ($252 million) from 393 million yuan ($58 million) a year earlier, and plans to allocate IPO proceeds to the development of AI models, new robots, and the expansion of production.

— British AI data center operator Nscale has informed potential investors that it has contracts with a combined revenue of approximately $51 billion ahead of an IPO that could take place in the U.S. as early as September, Bloomberg reports, citing sources. According to the agency, the company’s quarterly revenue exceeded $100 million in the second quarter of 2026, compared with $33 million for all of 2025. Nscale is actively expanding its AI data center infrastructure, increasing its fleet of Nvidia chips, and previously announced the acquisition of software developer Anyscale for $1.65 billion.

— Chinese startup Evoken, the developer of Lovart, an AI service for designers, is considering an IPO in Hong Kong, according to sources cited by Bloomberg. The company is currently close to raising a new round of funding at a valuation of approximately $3 billion. Evoken gained prominence following the success of the Chinese startup Manus —it also uses third-party AI models to develop tools for designers and content creators that compete with Canva and Adobe Creative Cloud. The company’s annual recurring revenue has already exceeded $300 million.

— Shares of Braveheart Bio, a biopharmaceutical company developing drugs to treat cardiovascular diseases, soared 66% on the first day of trading following its U.S. IPO. The company raised $382.5 million by offering shares at $18 each, and its market capitalization reached $2.1 billion following its debut. Braveheart’s lead drug is intended to treat hypertrophic cardiomyopathy—a condition in which the heart muscle becomes abnormally thickened, leading to inefficient pumping and filling of the heart with blood. The company was founded in 2024 and had previously raised approximately $185 million from investors, including a16z and Patient Square Capital.

— Latigo Biotherapeutics, a biotech startup developing non-opioid pain relievers, raised $345.6 million in its U.S. IPO. The shares were priced at the upper end of the range—$18 per share—and the company’s market capitalization reached approximately $1.08 billion. Latigo’s lead drug demonstrated analgesic effects in clinical trials that were approximately 50% greater than those of the opioid drug Vicodin. The company will use the funds raised to continue development and conduct Phase 3 clinical trials.

— Attovia Therapeutics, a biotechnology company developing drugs to treat immune system disorders, rose 29% on its first day of trading following its U.S. IPO, according to Bloomberg. The company raised $289 million by selling shares at $17 each, and its market capitalization reached approximately $942 million at the close of its debut. Attovia is developing two drugs to treat inflammatory diseases, one of which has already completed Phase 1 trials.

— BlossomHill Therapeutics, a biotechnology company developing targeted drugs for the treatment of cancer, raised $150 million in its U.S. IPO, according to Bloomberg. Shares were priced at $16 each—in the middle of the announced price range—and the company’s market capitalization stood at approximately $490 million. The company plans to use the proceeds to fund the clinical development of two early-stage drug candidates for the treatment of various types of cancer.

— IPO activity in the UK remains low, prompting private equity and venture capital funds to increasingly exit their investments by selling them to other investors or strategic buyers, Bloomberg reported, citing data from PitchBook. Over the past five years, the country has seen only seven initial public offerings (IPOs) by companies backed by private equity, and since 2022, the London Stock Exchange has been losing more issuers annually than it attracts, the agency notes. Against this backdrop, the UK’s financial regulator, the FCA, simplified listing rules in early August by waiving a number of IPO requirements to reduce costs for companies and make the market more attractive for raising capital. But so far, despite these support measures, British companies prefer to postpone their listings or list on foreign exchanges, Bloomberg concludes.

This article was AI-translated and verified by a human editor