August: Keep Pushing Forward | 5Y News Monthly
The big news from last month.
5Y News Monthly
"5Y News Monthly" is a regular column from 5Y Capital. At the start of each month, we look back at the past month's news and developments involving 5Y and our portfolio companies, sharing them with friends who follow us. We hope it helps you get to know 5Y better.
01 Portfolio Company Highlights
Major news about funding rounds, IPOs, strategic partnerships, breakthroughs, and new product launches from 5Y portfolio companies.
02 5Y Capital Updates
News about 5Y honors, investor interviews, and insights.
Note: Companies are listed in alphabetical order by pinyin.
01
Portfolio Company Highlights
"Tingting Technology" Completes Series A Funding
In July, digital food tech company "Tingting Technology" completed a Series A round of tens of millions of US dollars, led by Forebright Capital, with follow-on investments from Shenqi Capital, 5Y Capital, Damai Ventures, and others. Existing shareholders including Professor Zexiang Li's Xiangshuiwan Fund, Professor Bingqiang Gao and his Brizan Fund, and Professor Jie Gan's Zhixing No. 1 Fund all increased their stakes beyond their pro-rata rights. Proceeds will be used for product R&D, team building, and market expansion. Compared to its previous round, Tingting Technology has made progress in hardware and software iteration, AI integration and application, and global market development. Read more
Horizon Robotics and NavInfo Enter New Strategic Partnership
In July, Horizon Robotics and NavInfo formed a strategic partnership. Both parties will leverage their respective industrial resources and product strengths to drive deeper collaboration in automotive intelligence areas including autonomous driving solutions, mapping, and chips. Horizon Robotics hopes that through this strong alliance with NavInfo, it can fully harness the integrative role of its ecosystem, amplify each other's strengths, create model examples of node innovation, explore frontier intelligent driving technologies, and empower automakers and the supply chain to accelerate high-quality industry development, ultimately delivering more automotive intelligence products that create tangible value for users. Read more
XtalPi and Yanan New Materials Form Strategic Partnership
In July, XtalPi — which drives innovation through AI and robotic experimentation — formed a strategic partnership with Yanan New Materials, which focuses on functional materials for lithium batteries. Both parties will fully leverage their respective strengths in technology R&D and market expansion. Based on first-principles thinking and empowered by AI and automated experimentation, they will jointly advance the development of next-generation lithium battery materials to build a more sustainable and efficient intelligent future. Read more
Kuaishou and Linping District Form Deep Strategic Partnership
In July, Beijing Kuaishou Technology and the Linping District government successfully held their strategic partnership signing ceremony in Hangzhou. Kuaishou will formally establish the Kuaishou Short Drama (Linping) Content Ecosystem Center in Linping. Through incubation and recruitment, both parties will jointly build a healthy micro-short drama industry ecosystem in Linping that covers the entire chain of "writing, filming, broadcasting, evaluating, and investing," serving upstream and downstream industry players and supporting the development of Linping's micro-short drama industry. Read more
Keep Successfully Lists on Hong Kong Stock Exchange
In July, fitness tech company Keep officially listed on the main board of the Hong Kong Stock Exchange under ticker symbol "3650." As a tech-enabled consumer company with keen user insights, Keep has pioneered and defined many industry standards, growing into the leading brand serving users' fitness and exercise needs. Guided by China's "Healthy China" national strategy, Keep has achieved rapid growth and progress. Going forward, it will continue to uphold its mission, standing on a broader stage to embrace new challenges. Read more
PingCap and Kingsoft Cloud Form Strategic Partnership
In July, Kingsoft Cloud and enterprise-grade open-source distributed database company PingCap formed a strategic partnership, aligning with technology innovation and industry development trends to build a new ecosystem for collaborative growth. Both parties discussed cloud database development trends, industry application characteristics, and technology innovation cooperation models, and exchanged views on in-depth collaboration in joint product R&D, industry expansion, and service support. Under the new economic paradigm, cloud computing has become the inevitable direction for digital development, with enterprises across internet, finance, healthcare, and other sectors accelerating their digital transformation. Read more
SenseTime and Yongxin Zhicheng Form Strategic Partnership
In July, SenseTime — a global leader in AI software — formed a strategic partnership with Yongxin Zhicheng, a frontrunner in digital security testing and evaluation. This forward-looking cross-domain collaboration will focus on AI security testing to safeguard the secure development of China's AI industry. Both parties also stated that they will jointly develop large model applications for cybersecurity attack-defense and vulnerability discovery, achieving productization to drive innovative, large-scale application and deployment of AI technology in the network and data security industry. Read more
Xpeng Motors and Volkswagen Group
Form Long-Term Strategic Partnership
In July, Xpeng Motors — a leading domestic smart EV manufacturer — and Volkswagen Group, one of the world's most powerful automotive multinationals, jointly announced that they had signed a framework agreement for strategic technology cooperation. At the same time, Volkswagen Group signed a share purchase agreement for a strategic minority equity investment in Xpeng Motors. The strategic technology cooperation aims to leverage the complementary strengths of both parties to establish a long-term, win-win strategic partnership. Read more
Xiaoice Launches New Generation of
AI Digital Employee Solutions Based on Microsoft Azure
In July, Microsoft and Xiaoice jointly announced that Xiaoice will release a new generation of AI digital employee solutions for enterprise customers in Asia, built on Microsoft international Azure. According to the announcement, enabled by Microsoft international Azure and Xiaoice's X-CoTA technology, this solution achieves human-like conversational AI interaction, extensive logical reasoning capabilities, multimodal generation, and domain expertise — thereby further enhancing the effectiveness of AI digital employees. Read more
China's First Flexible Solar Array Flat-Panel Communications Satellite
GalaxySpace Lingxi-03 Successfully Launched
In July, China successfully launched the GalaxySpace Lingxi-03 satellite from the Taiyuan Satellite Launch Center using a Long March 2D carrier rocket. The satellite entered its predetermined orbit and the launch mission was completed successfully. Developed independently by GalaxySpace, the Lingxi-03 is configured with a millimeter-wave multi-beam digital payload capable of tens of gigabits per second, designed to validate next-generation low-orbit broadband satellite communications as well as technologies including ultra-large power systems, active thermal control, industrial integrated成型 structures, and multi-satellite stack compression and release. This also marks China's first in-orbit validation of multi-satellite stack launch technology, providing technical support for the rapid deployment of China's mega-constellation low-orbit communications satellite network. Read more
Multiple 5Y Portfolio Founders Named to Fortune
2023 40 Under 40 China Business Elite List
In July, Fortune released its "40 Under 40 China Business Elite" list. Over the past decade, Chinese entrepreneurs have built their initial capital bases on the country's massive domestic market, continuously raising funding to expand their business empires, surviving brutal competition, and growing stronger. Multiple founders from 5Y portfolio companies made the list — Shan Yi, co-founder and CEO of Jianzhi Robotics; Shi Yi, founder and CEO of Kuiliang Group; Ci Ran, founder and CEO of Moody; and Chen Hang, co-founder and CEO of Neox Biotech. Read more
Multiple 5Y Portfolio Companies Named to 2023 Silicon 100 List
The globally renowned electronics and semiconductor magazine EE Times released its 2023 list of the 100 semiconductor startups most worth watching worldwide — "Silicon 100: Startups Worth Watching in 2023." The Silicon list, which began in 2004 and has now been updated 23 times, has become an integral part of the rational decision-making process for global investors and market professionals. This year, 21 Chinese semiconductor startups made the list. **5Y portfolio companies Horizon Robotics, Moore Threads, Xinhuazhang, Vastai Technologies, and Juxin Microelectronics were among those honored. Read more**
5Y Capital Updates
2023 "PEDaily TOP100 Investors" Announced
Qin Liu, Zhang Fei, and Yuan Ye of 5Y Named to List
In July, Zero2IPO's venture and investment information platform PEDaily and Zero2IPO jointly released the 2023 "PEDaily TOP100" investor list. The "PEDaily TOP100" investor selection has been held for eight consecutive years and has become a window for observing industry changes. The list comprehensively evaluates five factors: number of personal investments, personal investment amount, comprehensive return levels, and the industry influence of the individual and their institution. From over 1,000 candidates, 100 outstanding investors were selected who have achieved strong investment performance while also driving progress in China's venture capital industry. **5Y founding partner Qin Liu, partner Zhang Fei, and partner Yuan Ye were named to the list. Read more**
5Y Receives Multiple Awards from FOFWEEKLY and Diyixinsheng
In July, FOFWEEKLY released its "2023 GP Soft Power Rankings." The rankings combine public surveys and objective data to comprehensively evaluate GP capabilities, deeply explore LP investment vitality, and recognize outstanding institutions. **5Y was named to both "2023 GP Soft Power Rankings — GP Soft Power TOP10" and "2023 GP Soft Power Rankings — Innovation-Driven TOP20." Read more**
In July, Diyixinsheng released its Investment China Q2 2023 Most Active Institutions series of lists. The lists focus on investment, fundraising, IPO, and service transaction data in China's new economy equity investment market in Q2 2023, recognizing the most active relevant institutions across various dimensions. **5Y was named to both "Q2 2023 Most Active VC Firms in China TOP30" and "Q2 2023 Most Active Firms in China's AI Sector TOP20." Read more**
2023 Supersonic Plan Fall Cohort Opens
In July, the 2023 fall Supersonic Plan cohort opened smoothly in Beijing. Having previously run fully online and fully offline programs, this Supersonic cohort will complete all coursework and activities through a hybrid online-offline model. At the opening ceremony, 5Y partner Liu Kai shared observations on current entrepreneurship trends — more and more founders both domestically and overseas are leveraging real-time interaction and large models to drive innovation. Going forward, Supersonic, Agora, and 5Y will provide more targeted cutting-edge course content and precise resource support. Read more
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