Chinese robotics and automation company Siasun Robot&Automation and IoT developer KOKO.US have filed for an initial public offering in the United States, with plans to raise $11 million.

Chinese intelligent commercial cleaning Siasun Robot & Automation and IoT product supplier Kokobots Group submitted an IPO application to the U.S. Securities and Exchange Commission (SEC) last Friday. The company plans to issue 2.5 million shares at a price of 4 to 5 dollars per share, raising $11 million. Based on the calculated midpoint of the proposed price range, Kokobots Group's market value will reach $72 million. Kokobots Group is currently mainly engaged in the research and development, sales, and leasing of the intelligent commercial cleaning Siasun Robot & Automation, as well as the manufacturing and sales of IoT products. Their intelligent commercial cleaning Siasun Robot & Automation uses patented L4 level low-speed autonomous driving technology and utilizes various sensors and other technologies to operate autonomously in complex environments with minimal human intervention. Their IoT products are devices integrated with RFID chips, usually disposable but with a high repurchase rate, such as music festival wristbands. This company, headquartered in Shanghai, China, was founded in 2011, with revenue of $4 million in the 12 months ending on December 31, 2024. The company plans to list on the NASDAQ under the symbol "KOKO". Kokobots Group submitted the application secretly on January 10, 2025. AC Sunshine Securities is the sole bookrunner for this transaction.