Meituan led a $139m series B2 round in Unitree Robotics.

Meituan, a food delivery giant, led a $139m series B2 round in Unitree Robotics, a robotics company focusing on independent research and development, with participation from Source Code Capital, CITIC Securities, Shenzhen Capital Group, China Internet Investment Fund, Winreal Investment and Dunhong Capital Management. The proceeds will be used to finance the product R&D, and business and team expansion. Unitree’s fundraising milestone comes at a time when an ageing population and rising labour costs have prompted the country to ramp up industrial automation.