Mifeng Tech Raises Hundreds of Millions in Funding Led by China Telecom for Embodied AI Data Platform and MEgo

Mifeng Tech recently completed a new funding round of several hundred million RMB, led by China Telecom, with Zhangjiang Group participating as a follower. Existing shareholders including Sequoia China and Yuanqi Innovation made additional oversubscribed investments. The proceeds will be used to build a platform-based supply infrastructure for embodied intelligence data, expand the production scale of the MEgo series of body-free collection products, strengthen full-stack capabilities in data collection, data governance, and closed-loop evaluation, and accelerate the deployment of ten-million-hour-scale physical interaction data production capacity.

Founded in February 2026 and incubated internally by Zhiyuan Robotics, Mifeng Tech is positioned as a one-stop physical AI data service platform, dedicated to systematic, standardized, and large-scale supply of embodied intelligence data. The company's chairman and CEO is Yao Miaoqing, who also serves as a partner, senior vice president, and president of the embodied business unit at Zhiyuan Robotics. Zhiyuan Innovation (Shanghai) Technology Co. , Ltd. is its largest shareholder. Since its inception, Mifeng Tech has maintained a rapid fundraising pace: in the month of its founding, it completed seed and angel rounds of several hundred million RMB, led by Sequoia China, with participation from CDH Investments, Baidu Ventures, Yunfeng Capital, and Muhua Kechuang. In June 2026, it completed an angel+ strategic round of several hundred million RMB, led by Guofang Venture Capital, with participation from Futeng Capital, Shanghai Dianke Fund, and Yuanqi Innovation, while existing shareholders Juneng Intelligent and CDH VGC continued to add investments. Including this latest round, the company has completed three consecutive funding rounds in about six months, with investors spanning state-owned industrial platforms, market-oriented funds, and industry chain enterprises.

The establishment of Mifeng Tech is related to the business spin-off of Zhiyuan Robotics. Since the end of 2025, Zhiyuan has successively spun off four businesses—dexterous hands, data, leasing, and quadruped robots—into independent entities: Linjiedian, Mifeng Tech, Qingtianzu, and Zhiyuan Kuo Tuo. Yao Miaoqing previously explained that the data business was spun off because the team judged that data would be the core constraint on industry development in the future. After independence, the business line becomes more focused and can strengthen data infrastructure through market-based financing.

The embodied intelligence industry currently faces a data supply gap. Mainstream large language models have been pre-trained on 100 trillion tokens, equivalent to about 10 billion hours of data, while the total high-quality embodied data aggregated across the industry is only about 500,000 hours, representing a magnitude mismatch between supply and demand. On the collection side, Mifeng Tech has self-developed the MEgo series of body-free collection products, which are already in mass production. These products can collect macro-environmental and micro-operational data without relying on a robot body, covering scenarios such as factories, homes, and elderly care. On the governance side, the MEgo Engine data governance service platform automates the entire data processing pipeline, improving traditional manual data processing efficiency by more than 10 times. On the evaluation side, by deploying a feedback data flywheel, each data closed loop can boost task success rates by 5% to 10%. The company has established innovation centers in more than 20 domestic cities, deployed over 5 overseas nodes, and formed strategic partnerships with leading domestic and international internet, embodied intelligence, and AI companies.

In this funding round, China Telecom's participation continues the layout of the three major telecom operators in the embodied intelligence data track. Previously, China Telecom, together with Inovance Technology, invested in Daimon Robotics, and China Mobile's chain leader fund also invested in Daimon Robotics, while China Unicom built its own embodied intelligence pilot base. On July 18, 2026, China Telecom launched the China Telecom (Shanghai) Artificial Intelligence Industry Private Fund with a capital contribution of 2 billion RMB, explicitly focusing on intelligent computing power, large models, embodied intelligence, on-device AI, and data corpora.