A growing share of early-level funding is shifting toward AI and robotics startups. Unfortunately, identifying which companies have serious pre-IPO potential can be tricky, especially with their ambitious valuations and competing market narratives.
You may miss other opportunities and expose yourself to avoidable risk if you invest in a startup based solely on hype. To cut the noise, focus on AI and robotics startups already attracting pre-IPO investor interest. This updated August 2026 guide provides insights into such startups.
General-Purpose Humanoid Robotics Startups
According to Barclays Research, the market for humanoids could reach $200 billion by 2035. In line with that, general-purpose humanoid robotics startups like Figure AI and Agility Robotics are seeing massive pre-IPO valuations. Investors are targeting solutions for labor-constrained sectors with multi-billion-dollar private caps.
- Who it’s for: Institutional and accredited investors, as well as venture funds, private equity, and enterprise logistical buyers.
- Best feature: Proprietary neural networks.
Pro tip for investing: Focus on product deployments, not demonstrations.
Physical AI and Robot Foundation Model Startups
Physical AI and robot foundation model startups, such as Physical Intelligence and Skild AI, are buzzing with pre-IPO interest. They are developing models that enable robotic generalization across diverse hardware. Investors are keeping an eye on this technology, which promises to address industrial labor shortages.
- Who it’s for: Venture and pre-IPO investors as well as enterprise buyers,
- Best feature: Models that enable cross-platform, general-purpose robot control.
Pro tip when investing: Prioritize companies demonstrating real-world deployment, active customer contracts, and immediate economic payback.
Industrial and Warehouse Automation Startups
Another group drawing major pre-IPO capital is industrial and warehouse automation startups. That is partly due to the increasing demand to boost labor output and scale e-commerce fulfillment. Valuations reach high multiples of revenue, especially as private markets indicate massive future growth.
- Who it’s for: Growth and late-stage institutional funds and accredited private equity investors.
- Best feature: Next-gen AI models that allow robots to process live environments, handle sorting, and adapt dynamically.
Pro tip when investing: Verify unit economics and actual deployment returns rather than relying solely on raw AI capability.
Defense Autonomy and Infrastructure Inspection Startups
Startups, such as Gecko robotics, building battle-tested drone navigation or autonomous industrial-site robots, are attracting significant pre-IPO investor interest. The increase in global defense budgets, GPS-denied navigation technology, and a shift toward revenue-generating physical AI all contribute to the surging interest.
- Who it’s for: Growth-stage and institutional investors, government and defense agencies, and commercial asset operators.
- Best feature: Onboard AI operating systems that function in contested zones or hazardous industrial plants without human intervention.
Pro tip when investing: Look for firms with active government/commercial contracts, validated unit economics, and cash flow.
Platforms for Investing in Pre-IPO AI/Robotics Startups
When investing in pre-IPO AI/Robotics startups, target reliable platforms that offer some flexibility and favorable terms. Different marketplaces come with varying fees, restrictions, and requirements. Here are some platforms to consider:
Forge Global
Accredited investor requirements and verification: Investors must qualify by having an annual income of at least $200,000 for two years, a net worth of at least $1 million, or a specific professional license.
Pre-IPO share pricing/valuation mechanics: Share pricing is determined by a combination of secondary market supply and demand.
Liquidity events: Company-backed tender offers, structured secondary direct trades, and issuer-approved special purpose vehicles (SPVs).
Lock-up periods and transfer restrictions: Shares are subject to transfer restrictions and Right of First Refusal (ROFR) windows. Post-IPO lock-up agreements last 90 to 180 days after a public listing.
Fees/commissions on secondary trades: A brokerage fee of 2% to 4%, based on transaction size and market conditions.
Employee stock options and exercising before sale: Involves using personal funds or specialized financing to cover the strike price and potential tax liabilities.
Fund vs. direct-share access: Involves choosing between direct-share purchases, which offer direct ownership, and Forge Funds, which provide lower, faster entry for capital.
Use cases: Accessing late-stage private growth, diversifying portfolios with high-demand technology, and tracking share valuation.
Gecko Robotics business model: A private AI firm with its shares available for purchase on secondary markets, with its pre-IPO stock traded on Forge Global.
IPO timeline speculation/late-stage funding rounds: AI and robotics firms on Forge Global are experiencing significant late-stage funding, with potential public debuts targeting record valuations.
Forge Global operates a secondary marketplace for pre-IPO, AI, and robotics stocks, connecting shareholders with accredited investors through direct trades or funds. Given that global private investment in AI reached $344.7 billion in 2025, the platform offers specialized data-based pricing, manages ROFR constraints, and facilitates transactions.
Pros
- Access to tech companies
- Data insights in terms of pricing
Cons
- Strict transfer restrictions
Hiive
Accredited investor requirements and verification: Investors must meet SEC-defined accredited investor standards, including an annual income of $200,000 or a net worth of $1 million.
Pre-IPO share pricing/valuation mechanics: Share pricing is driven by a supply-and-demand model, with real-time, direct negotiations between buyers and sellers determining valuation.
Liquidity events: Continuous limit orders, block trades, and managed liquidity windows.
Lock-up periods and transfer restrictions: Investments are subject to company-specific transfer restrictions, including a Right of First Refusal (ROFR) and board approval. Following an IPO, shares are typically restricted from public sale for 90 to 180 days.
Fees/commissions on secondary trades: Sellers are charged 5.75%, with a discount for transactions over $500,000. For buyers, the rate is 4.85%.
Employee stock options and exercising before sale: To sell employee stock options, you must first convert vested options into common stock, as unexercised options cannot be directly sold. Exercising requires upfront capital and comes with tax obligations.
Fund vs. direct-share access: Choose between direct-share access and fund structures to trade off ownership control, investment minimums, and transfer friction.
Use cases: Securing early stakes in high-growth, private unicorns, accessing SPV structures for portfolio diversification, and early investor exits.
Gecko Robotics business model: The company’s shares are traded on secondary platforms like Hiive, providing liquidity for stakeholders ahead of an IPO.
IPO timeline speculation/late-stage funding rounds: Companies are securing high valuations through private funding, but keeping public debut timelines speculative.
Hiive is a trading platform for buyers and sellers of stock and vested options in venture-backed private companies, according to its page on Crunchbase. Given that robotics startups alone raised $26 billion between January and July 2025, the platform offers live order-book pricing, facilitates direct negotiations, and provides insights into these tech companies. This means that as an investor, you can assess the liquidity thesis on Gecko Robotics and other companies before making a decision.
Pros
- Facilitates price discovery
- No recurring management fees
Cons
- Possible transfer restrictions
EquityZen
Accredited investor requirements and verification: Individuals must have an annual income of $200,000 for 2 years or a net worth of over $1M.
Pre-IPO share pricing/valuation mechanics: Gotten from the target company’s latest preferred stock financing round or independent secondary market pricing models.
Liquidity events: Occur only when the underlying private company completes an IPO, an acquisition, or a structured corporate buyback.
Lock-up periods and transfer restrictions: Post-IPO lock-up periods last up to 180 days. Secondary shares are heavily restricted by the company’s Right of First Refusal (ROFR) policies.
Fees/commissions on secondary trades: One-time sales/placement fees range from 2% to 2.5% based on deal size. There are no recurring management fees for non-active SPVs.
Employee stock options and exercising before sale: Employees must exercise options (paying the strike price and potentially incurring tax liabilities) before selling the underlying shares into secondary liquidity programs.
Fund vs. direct-share access: Most retail-accredited parties go for centralized feeder funds (SPVs) rather than direct standalone shares.
Use cases: Accessing high-growth AI and robotics companies, targeting mature late-stage firms, and diversifying portfolios with zero hard-tech assets.
Gecko Robotics business model: Builds climbing/crawler AI-powered robots and enterprise software to inspect vital industrial and defense infrastructure, including power plants, oil pipelines, and Navy ships
IPO timeline speculation/late-stage funding rounds: Many firms are acquired rather than going public, often after large late-stage private funding rounds.
EquityZen is a secondary marketplace that connects private company shareholders with accredited investors. It provides access to pre-IPO shares of late-stage artificial intelligence and robotics startups through special-purpose vehicles (SPVs). Since AI companies accounted for 61% of global venture-capital investment in 2025, they’re major items on this platform.
Pros
- Low investment minimums
- Access to high-demand firms
Cons
- Private offerings are open to accredited investors only
Carta
Accredited investor requirements and verification: Must meet SEC rules or obtain third-party verification letters from CPAs, attorneys, or platforms like parallel verification services.
Pre-IPO share pricing/valuation mechanics: Pricing is tied to secondary market transaction data, while valuation is set by board approvals, 409A valuations, and recent institutional funding milestones.
Liquidity events: Company-sponsored tender offers, secondary block trades, or eventual IPOs/acquisitions.Lock-ups:
Lock-up periods and transfer restrictions: Lock-ups are 90 to 180 days post-IPO, while private transfers require the company board’s consent and a Right of First Refusal (ROFR).
Fees/commissions on secondary trades: Transaction fees or SPV management fees are often 1%–2% annually, plus carried interest.
Employee stock options and exercising before sale: Employees must exercise options by paying the strike price and taxes to participate in secondary sales, subject to post-termination exercise windows.
Fund vs. direct-share access: SPVs/funds pool capital for indirect exposure, whereas direct shares give direct name-on-cap-table status.
Use cases: Accessing high-growth deep-tech companies, participating in oversubscribed rounds, and conducting secondary transactions.
Gecko Robotics business model: A private AI company with its shares available on secondary markets. Uses a robotics-as-a-Service (RaaS) model.
IPO timeline speculation/late-stage funding rounds: Raised roughly $350M to $372M total, with a $1.25 billion valuation. The company’s IPO timeline has not yet been fixed.
Carta is a private-market software platform for equity and cap table management. With the value of private-company shares traded through secondary transactions reaching $226 billion in 2025, this platform facilitates such transactions. However, they typically occur via structured tender offers, company-approved secondaries, or specialized liquidity programs integrated with the platform.
Pros
- Access to cap-table equity
- Ownership tracking
Cons
- Complex SPV structures
See also: Emerging Market Trade Shows: An Underrated Growth Channel for Tech Firms
Comparing These Pre-IPO Stock Marketplaces
One common mistake people make when investing in pre-IPO startups is choosing an unreliable platform. This occurs mainly because these platforms often advertise similar services. To help with your choice, here is how they compare:
| Pre-IPO Stock Marketplaces | Key Feature | Best For | Limitation |
| Forge Global | Data-based pricing | Late-stage private growth investors | Strict transfer restrictions |
| Hiive | A live order-book | Private-company investments | Possible transfer restrictions |
| EquityZen | SPV-based access | Accredited investors | Accredited investors only |
| Carta | Cap-table management | Deep-tech and secondary transactions | Complex SPV structures |
Conclusion
The Problem: Investing in pre-IPO AI and robotics startups can involve high valuations, limited liquidity, transfer restrictions, and significant investment risk.
Key Takeaway: Whether you’re investing in general-purpose humanoid startups or defense autonomy firms, focus on real-world deployments, financial performance, and validated demand rather than hype. Compare pre-IPO marketplaces based on eligibility, fees, pricing, liquidity options, and restrictions.
Next Steps
- Assess your risk tolerance and investment timeline
- Review the startup’s valuation, funding, deployments, and customer demand
- Compare marketplaces based on eligibility, fees, and liquidity options
- Prioritize companies with proven economic value and real-world deployments
FAQ
Why are investors interested in AI and robotics startups before IPOs?
Investors are attracted to the potential growth and technological breakthroughs offered by AI and robotics startups. Early participation offers opportunities before companies potentially enter public markets.
Who can invest in pre-IPO AI and robotics startups?
Accredited investors, institutional funds, venture capital firms, private equity investors, and enterprise buyers can invest in AI and robotics startups. Eligibility depends on platform eligibility requirements.
What should investors consider before investing in pre-IPO startups?
Investors should assess valuation, funding, real-world deployments, customer demand, financial performance, and economic value. Liquidity, transfer restrictions, and overall investment risk should be considered carefully.
