December, the Road Keeps Extending | 5Y News Monthly
The big news from last month.
5Y News Monthly
"5Y News Monthly" is a recurring column from 5Y Capital. At the start of each month, we look back at news from the past month involving 5Y and our portfolio companies, sharing it with friends who follow us — we hope it helps you get to know us better.
01 Portfolio Company Highlights
Major news about our portfolio companies' fundraising, IPOs, strategic partnerships, breakthroughs, and new product launches.
02 5Y Capital Updates
News about 5Y honors, investor interviews, and thought leadership.
Note: Companies are listed in alphabetical order by pinyin.
01
Portfolio Company Highlights
Horizon Robotics and Dongfeng Nissan Launch First Mass-Production Vehicle
On November 3, Horizon Robotics and Dongfeng Nissan launched their first mass-production collaboration — the Venucia VX6 — marking the first time Horizon's Journey chips have powered a joint-venture automaker's vehicle. With this production milestone, Horizon Robotics is becoming the preferred partner for joint-venture automakers' intelligent transformation, helping more carmakers meet Chinese consumers' demand for high-quality smart mobility. Read more
XtalPi Signs New Partnership with EDDC
In November, XtalPi announced a memorandum of understanding with Singapore's Experimental Drug Development Centre (EDDC), expanding their collaboration in automated synthesis experiments and large language models for drug discovery. Building on their 2022 agreement for AI and robotics-driven R&D of non-small cell lung cancer drugs, the new MOU focuses on accelerating the translation of scientific research into pipeline assets and jointly advancing the automation and intelligence upgrade of drug R&D. Read more
Jizhao Energy Storage Closes Angel Round
Jizhao Energy Storage Technology recently announced the completion of an angel round, with 5Y Capital as the sole investor. The funds will be used for product R&D, team expansion, and pilot production line construction. Founded in May 2023, Jizhao Energy Storage is China's first supplier of liquid metal battery energy storage systems. Leveraging the State Key Laboratory of Advanced Electromagnetic Technology at Huazhong University of Science and Technology, the company has established a complete liquid metal battery assembly and testing platform and is currently building China's first liquid metal battery pilot production line. Read more
Xmov and Tengyun Form Strategic Partnership
In November, Xmov and Yunnan Tengyun Information Industry Co. formally established a strategic partnership to jointly build China's first AI virtual human demonstration project for cultural tourism, opening a new chapter in Yunnan's cultural tourism digital transformation. The two parties will collaborate on 3D virtual human digital tourism innovation, including scenic area guide training, guide services, point-of-interest navigation, and rural agricultural assistance — further enhancing Yunnan's comprehensive all-for-one tourism service capabilities, industrial digitalization, and smart cultural tourism platform operations. Read more
Colored Contact Lens Brand moody Opens First Offline Store
In November, colored contact lens brand moody opened its first national store at Shanghai's K11 Art Mall. The store features extensive wood-grain finishes embodying a comfortable, joyful lifestyle aesthetic, accented with the brand's signature "moody orange" for artistic flair. Founder Ran Ci expressed hope that the space would deliver an immersive emotional experience for consumers. Read more
Shukun Technology Releases Digital Human Platform 2.0
In November, Shukun Technology unveiled its much-anticipated Digital Human Platform 2.0 at the 26th China International Medical Equipment Fair (CMEF), marking a major leap forward in medical AI. Founder Xinsheng Mao stated that the company remains committed to original innovation, user-centricity, and continuous refinement of technology and products. Shukun has not only achieved breakthroughs in imaging diagnosis but also extended AI applications to surgical assistance and scientific research, creating greater value for doctors and patients. Read more
SenseTime and Shanghai Unicom Form Strategic Partnership
On November 28, SenseTime and Shanghai Unicom signed a strategic cooperation framework agreement to jointly build a world-class AI industry cluster. Under the agreement, both parties will deeply implement national strategies for developing next-generation AI, leverage their respective strengths, accelerate the creation of a world-class AI industry cluster, foster a general AI innovation ecosystem, and build momentum for AI industry development in the large model era — cooperating comprehensively, across multiple domains, and in an integrated manner to help establish Shanghai as a major AI hub and drive high-quality digital economic development. Read more
Pony.ai Approved for L4 Autonomous Truck Platooning Tests
In November, Pony.ai announced it had obtained Guangzhou's first autonomous truck platooning test license, permitting L4-level platooning tests on open roads. Pony.ai's autonomous truck platoon operates in a "1+N" formation, with one autonomous truck leading multiple L4 autonomous trucks safely on highways — helping alleviate traffic congestion and reduce accidents. Read more
Xpeng AeroHT's Land-Air Integrated Flying Car Makes Public Debut
In November, Xpeng AeroHT's land-air integrated flying car was displayed to the public for the first time. The vehicle continues the land-air integrated configuration unveiled by the company two years prior, with further design optimizations allowing flight systems including arms and rotors to fold completely into the vehicle. The supercar-inspired exterior features a tech-forward intelligent cockpit that seamlessly switches between driving and flight modes, with the steering wheel, transparent instrument panel, and other elements transforming accordingly. Read more
XVERSE Open-Sources 65-Billion-Parameter High-Performance Foundation Model
In November, XVERSE announced the open-source release of XVERSE-65B, a 65-billion-parameter high-performance general foundation model, available for unconditional free commercial use. Founder Yao Xing commented: "Facing tight R&D timelines and persistent compute shortages, the team developed multiple high-performance 7B and 13B models within three months, and was the first to contribute a 'promisingly capable' 65B model to the community — creating triple value for research, commercial applications, and the ecosystem." Read more
Ufleeky Closes Nearly RMB 100 Million Series C+ Round
In November, Ufleeky — a leader in China's AI-powered intelligent decision-making technology — announced the completion of a nearly RMB 100 million Series C+ round. The new funding will strengthen Ufleeky's technical advantages in operations research optimization and recruitment of top industry talent, with continued deep focus on this vertical. The company will further refine its algorithms, products, and service systems, particularly innovating and deepening its intelligent supply chain planning and scheduling optimization platform, enhancing its technical leadership and accelerating commercialization of intelligent decision-making solutions. Read more
5Y Capital Updates
5Y Capital Receives Multiple Awards from ChinaVenture, Jiemian, Jazzyear, and Other Media
In November, ChinaVenture released its 2022-2023 annual investor rankings, the 17th consecutive year the independent third-party institution has published China's venture capital and private equity series rankings. 5Y Capital founding partner Qin Liu was named to "ChinaVenture 2022-2023 Top 10 Best Venture Capitalists" and "ChinaVenture 2022-2023 Top 20 Best Internet and Industrial Internet Investors," while 5Y Capital partner Fei Zhang received "ChinaVenture 2022-2023 Best AI Industry Investor." Read more
In November, Jiemian News released its "China Top Venture Capitalists" ranking for the seventh time. The list evaluates mainstream and active venture capitalists based on their new investments and exits over the past three years, selecting 50 top investors annually according to their performance and participation and contribution to portfolio projects. 5Y Capital founding partner Qin Liu and partner Ye Yuan were named to the 2023 "China Top Venture Capitalists" list.
Tech media outlet Jazzyear held its year-end gala in late November, presenting three major rankings: "Jiazi 20," "Lightyear 20," and "Tech Industry Investment Rankings," honoring the "wind-chasers and moon-racers" who achieved outstanding success in tech industry over the past year. 5Y Capital was named to "2023 China's Top 30 Best Hard Tech Venture Capital Firms," and 5Y Capital founding partner Qin Liu received "2023 Top 30 Best Hard Tech Investors." Read more
Lanxia Consumption recently hosted the 2023 Consumption Industry Unicorn Summit in Beijing and released a series of rankings. To recognize consumption industry unicorns and future unicorns, as well as VC and CVC firms, that continue to believe in the power of consumption and maintain growth despite a down market, the summit selected seven rankings. 5Y Capital was named to the 2023 Top 30 Consumption Firms. Read more
In November, Guochao industry new media Guanchao New Consumption released the "2023 Guochao Golden Investment Rankings," established to recognize investment firms with remarkable achievements in the Guochao new consumption track. The rankings comprehensively evaluate investment returns, deal volume, star projects, IPO and M&A transactions, assets under management, and new fundraising — based on real data, market recognition, and principles of fairness, impartiality, and openness. 5Y Capital was named to the "2023 Guochao Golden Investment Rankings." Read more
Riding Through the Wind | A Close-Up of 5Y Capital's 15th Anniversary CEO Summit
In cycling, wind is the primary source of resistance. When speed doubles, resistance triples. To overcome it, cyclists adjust their posture — this is called "breaking the wind." The "wind resistance" entrepreneurs face is far more complex — external changes, organizational and personal evolution, market uncertainty. To reach their destination, breaking through the wind is an inevitable part of the entrepreneurial journey.
This year marks 5Y Capital's 15th anniversary. We made "Riding Through the Wind" the theme of our 15th Anniversary CEO Summit, inviting over a hundred entrepreneurs and investors to participate in a cycling challenge. It was drizzling that day, and the wind was especially strong — but facing the wind head-on, the perseverance and courage the entrepreneurs displayed left a deep impression on us.
Once you set out on the entrepreneurial path, wind is everywhere. But feeling the wind means we're moving forward. Read more
How to Build AI-Native Products? Entrepreneurial Reflections | 5Y Tavern Vol. 14
Since ChatGPT's debut last year, the AI field has been swept by a new wave of enthusiasm. For entrepreneurs, the past year has been one of transformation. The AI great voyage brings new possibilities alongside greater uncertainty. How do you identify AI-native products? How do you build teams for AI products? How do you balance the long-term nature of technology research with a rapidly changing market? In this edition of 5Y Tavern, several entrepreneurs who have been exploring AI shared their experiences and reflections. Read more
5Y Capital seeks out, supports, and inspires lone entrepreneurs, providing support from the spiritual to the operational. We believe that if the you whom others see as crazy begins to be believed in, the world will become a different place.
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