Manycore Tech Raises $156M in Hong Kong IPO, Pivots Toward AI and Robotics Services

Gate News message, April 17 — Manycore Tech, a Hangzhou-based interior design software maker, raised $156 million in its Hong Kong initial public offering. The company is shifting from China's cooling property market toward AI and robotics services built on its proprietary 3D design data.

Manycore still derives most of its revenue from Kujiale, its home renovation platform, but is actively pushing AI services and data products to robot makers and developers. Last year, the company's revenue rose 8.6% year-on-year to 820 million yuan ($120 million), with a gross margin of 82%, though it remained loss-making.

The IPO reflects investor interest in design software firms leveraging specialized 3D data for emerging AI and robotics applications. Manycore's vertical data approach—proprietary, structured information originating from its core design tool—positions it to supply specialized training material for AI models and robotic systems without competing directly with large language model developers.