June, the World's Childhood | 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 news from the past month involving 5Y and our portfolio companies, sharing it with friends who follow us in the hope of helping you understand 5Y better.
01 Portfolio Company Highlights
Major news about funding, IPOs, strategic partnerships, breakthroughs, and new product launches from 5Y portfolio companies.
02 5Y Capital Updates
News about 5Y honors, investor interviews, and perspectives.
Note: Companies listed below are arranged alphabetically by pinyin.
01
Portfolio Company Highlights
Axbio Unveils Fourth-Generation Nanopore Gene Sequencing Platform
In May, fourth-generation sequencing company Axbio officially launched its fourth-generation nanopore gene sequencing platform: the AXP100-RS gene sequencer. The release of Axbio's fourth-generation nanopore gene sequencing platform marks the arrival of China's first long-read gene sequencing technology with low-cost instrument deployment and low-cost per-unit data output, further strengthening China's global competitiveness in affordable long-read gene sequencing. Read more
Horizon Robotics Deepens Partnership with Continental
In May, senior management at Continental and Horizon Robotics reached consensus to deepen their existing collaboration and develop an integrated driving-parking domain controller 3.0 solution. Kai Yu, founder and CEO of Horizon Robotics, noted that the two companies' joint venture, Continental Core Autonomous Driving (Horizon Robotics), has pioneered an entirely new model for industry collaboration. Going forward, both parties will use Horizon Robotics' Journey series intelligent computing platforms as a solid foundation to continue enabling the development and deployment of more advanced driver-assistance systems, creating tangible value for more users. Read more
GruEnergy Closes New Funding Round
In May, GruEnergy (Gru New Materials Technology), a company focused on silicon-based anode materials for lithium batteries, completed a tens of millions of dollars Series A+ round. The round was led by Stellar Capital, with participation from 5Y Capital, Baidu Venture, and Yiyuan Capital. GruEnergy founder Hansong Han said the funding and support from new and existing investors will accelerate the company's silicon-based material production and product integration, laying a solid foundation for its future strategic plans. Read more
XtalPi Announces AI Drug Discovery Collaboration with Eli Lilly and Company
In May, AI drug discovery company XtalPi announced an artificial intelligence-powered drug discovery collaboration with Eli Lilly and Company, with upfront and milestone payments of up to $250 million. The collaboration will leverage XtalPi's integrated AI capabilities and robotics platform to design and deliver drug candidates from scratch against an undisclosed target. Read more
Kuaishou Enters Strategic Partnership with Gansu Province
In May, at the Gansu Tourism Promotion and International Travel Trade Cooperation Conference in Zhangye — hosted by the Ministry of Culture and Tourism and the Gansu Provincial People's Government — Kuaishou signed a strategic cooperation agreement with the Gansu Provincial People's Government to help build a new brand identity for Gansu's culture and tourism sector and launch an upgraded digital tourism ecosystem. Kuaishou plans to invest 1 billion in traffic resources, leveraging its "short video + live streaming" platform strengths to help Gansu create a new calling card for integrated culture and tourism. Read more
Leman Biotech Reports Ultra-Low-Dose Novel CAR-T Cures Relapsed/Refractory Lymphoma
In May, Shenzhen Leman Biotech announced that its metabolically enhanced CD19 CAR-T therapy (Meta10-19) had completed first-patient dosing and observation in an investigator-initiated trial (IIT). The first patient recently achieved complete remission and was discharged. This clinical study (NCT05715606), launched in early 2023, was designed to evaluate the safety and efficacy of Leman Biotech's metabolically enhanced CAR-T system. The company selected CD19, a well-studied target, for initial testing to gather clinical data that would accelerate development of subsequent anti-solid-tumor CAR-T therapies. Read more
Qingtian Truck Enters Framework Cooperation Agreement with Panasonic 4D
In May, Panasonic 4D and Qingtian Truck signed a framework cooperation agreement to formally launch strategic collaboration on new energy battery management for autonomous driving. Through this partnership, Panasonic 4D's BetteRRRy battery analytics technology will be integrated with Qingtian Truck's autonomous driving system. The two companies will collaborate on areas including full lifecycle value management systems for batteries in autonomous new energy commercial vehicles, providing core monitoring and management technologies for unmanned commercial vehicles such as battery state detection, safety early warning, and lifespan management. Read more
Shukun Technology Launches "Digital Human Platform 2.0"
In May, Shukun Technology unveiled "Digital Human Platform 2.0" at the 87th China International Medical Equipment Fair (CMEF). Shukun Technology founder and chairman Maosheng Mao summarized the platform's features in three keywords: comprehensive, innovative, and collaborative. With world-class sustained innovation capabilities, Shukun Technology captured widespread attention, fully demonstrating the future landscape of AI-powered healthcare. Read more
SenseTime Releases SenseEarth 3.0 Intelligent Remote Sensing Cloud Platform
In May, SenseTime released the SenseEarth 3.0 intelligent remote sensing cloud platform and the "SenseTime GeoBoundary" smart remote sensing data product. Lin Zhang, general manager of SenseTime's remote sensing business unit, said: "We hope to fully unleash the capabilities of AI-powered remote sensing large models, not only to better serve the traditional remote sensing application market, but also to make intelligent remote sensing technology easily accessible to users who previously couldn't adopt it due to technical or cost barriers — enabling AI remote sensing to penetrate into every industry sub-scenario." Read more
Xpeng Motors Enters Strategic Partnership with Eight Leading Insurance Companies
Xpeng Motors announced strategic partnerships with eight leading insurance companies including PICC Property and Casualty Company, Ping An Property & Casualty Insurance Company of China, and China Pacific Property Insurance. Together they will launch an intelligent insurance service system and related products to provide users with greater vehicle protection. He Xiaopeng, chairman and CEO of Xpeng Motors, said: "Xpeng's autonomous driving technology is among the leading in China, and the company is also undergoing tremendous transformation. I believe we will enter the market ahead of schedule, and therefore need the support of regulators and the insurance industry." Read more
Xiaoice Enters Strategic Partnership with Wangwang Technology
In May, Wangwang Technology and AI company Xiaoice announced a strategic partnership. Based on the principle of "complementary strengths and mutual benefit," both parties will leverage their respective advantages to jointly promote the continued development and broad application of AI technology in the live streaming industry. On the technology and product front, the two will research, develop, upgrade, and refine new AI technologies and products for the live e-commerce sector, including but not limited to innovations and upgrades in virtual humans and AI products. Read more
Multiple 5Y Portfolio Companies Named to ChinaVenture Rankings
In May, ChinaVenture released its China Venture Capital and Private Equity Investment Series Rankings — the "ChinaVenture Awards." 5Y portfolio companies Superparameter Technology and Xiaoice were named to the 2022 "Top 10 Best Investment Cases in China's AI and Big Data Industry"; METiS Pharmaceuticals was named to the "Top 10 Best Investment Cases in China's Biopharmaceutical Sector"; XYZ Robotics was named to the "Top 10 Best Investment Cases in China's Advanced Manufacturing and High-Tech Industry"; and Xinhuazhang was named to the "Top 10 Best Investment Cases in China's Semiconductor and Integrated Circuit Industry." Read more
02
5Y Capital Updates
5Y Capital Wins Multiple Awards from ChinaVenture and Diyixinsheng
In May, ChinaVenture released its China Venture Capital and Private Equity Investment Series Rankings — the "ChinaVenture Awards." The rankings are based on CVSource data, with standardized processing by ChinaVenture Research Institute and overall points-based rankings, covering over 1,000 active investment institutions in private equity. Known for its rigorous standards, professional authority, and strict methodology, the rankings are widely regarded as a bellwether for China's equity investment industry. 5Y Capital was named to "China's Top 100 Best Venture Capital Firms," "China's Top 20 Best Foreign Venture Capital Firms," and "Top 20 Best Investment Firms in China's Enterprise Services Industry." Read more
Additionally, ChinaVenture for the first time released its 2022 "Supernova" rankings, on which 5Y Capital partner Ye Yuan was named to the "Top 50 Supernova Investors" list. Read more
In May, Diyixinsheng released its Investment China Q1 2023 Most Active Institutions rankings, focusing on investment, fundraising, IPO, and service transaction data in China's new economy equity investment market during the first quarter of 2023 to identify the most active institutions across these dimensions. 5Y Capital was named to the "Top 30 Most Active Venture Capital Firms" list. Read more
Three Hours Drinking on the Curb
— 5Y Pub Vol. 12 x On the Road Store's Kang Yang
This episode of 5Y Pub features Kang Yang, founder of On the Road Store. We sat on a Shanghai curb, drinking different beers from On the Road Store, while Kang Yang shared the story of his business.
Kang Yang said he hopes On the Road Store can connect cities and become a kind of public service infrastructure. More than that, he wants everyone to break through fixed experiences and prejudices — not to narrowly define On the Road Store, nor to narrowly define anything. Even in the business world, he wants to build something public and shared, not a hierarchical order. Read more
Blasting Off at Supersonic Speed, Exploring More Possibilities
The 2023 spring Supersonic Program successfully completed its offline modules, with stops in Beijing, Shanghai, Shenzhen, Hong Kong, Hangzhou, and other cities. The curriculum covered core topics from technology entrepreneurship and product innovation to business canvas, new scenario discovery, and brand and corporate culture — addressing many pain points faced by early-stage startups.
The Supersonic Program always adheres to the philosophy of "Startup for Startup, Peer Learning in Playing." Throughout the spring cohort's journey, participants engaged not only in coursework and exhibitions, but also visits to ecosystem partners and fellow Supersonic companies. Read more
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