Time forever forks, leading toward innumerable futures | 5Y News Monthly

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 from 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 financing, 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 are listed in alphabetical order by pinyin.

01

Portfolio Company Highlights

XtalPi Partners with CK Life Sciences to Develop AI-Powered Cancer Vaccine R&D Platform

In November, XtalPi entered a new partnership with CK Life Sciences, a subsidiary of CK Hutchison Holdings. The two companies will combine their respective strengths to develop a novel AI-powered cancer vaccine R&D platform, aiming to gradually enhance the discovery and design capabilities for cancer vaccines, accelerate the development of more vaccine types, and ultimately achieve the goal of precision treatment for patients. Read more

Moore Threads Unveils Next-Generation GPUs

On November 3, Moore Threads held its 2022 Fall Product Launch at the Zhongguancun National Innovation Demonstration Zone in Beijing. At the event, Moore Threads introduced its new multi-function GPU chip "Chunxiao," the industry's first domestic-branded graphics card MTT S80 built on the MUSA architecture, the server-oriented MTT S3000, and the meta-computing all-in-one machine MCCX. This marks another leap forward in the iterative innovation of Moore Threads' multi-function GPU products, just seven months after its last release. Read more

SenseTime Partners with The Hong Kong Polytechnic University

In November, SenseTime signed a memorandum of understanding with The Hong Kong Polytechnic University. The two parties will jointly develop and expand digital space and smart vehicle-related technologies, with a commitment to translating research outcomes into practical applications. PolyU and SenseTime will focus on developing imaging technologies and solutions for education, art, and tourism, as well as high-performance collaborative edge computing technologies for autonomous driving systems. Research results from the partnership will be integrated into actual products to enhance user experience. Meanwhile, SenseTime hopes to further promote AI talent development in Hong Kong through this collaboration and provide students with hands-on opportunities in the AI industry. Read more

CAICT and Shukun Technology Announce Strategic Partnership

In November, the China Academy of Information and Communications Technology and Shukun Technology signed a strategic cooperation agreement to collaborate deeply on AI medical imaging platform development and intelligent medical device innovation, jointly supporting the high-quality development of the healthcare industry. The partnership focuses on establishing industry standards for medical imaging AI, healthcare "new infrastructure," and new intelligent health management ecosystems, with emphasis on researching next-generation intelligent medical device localization, intelligent chips, and related technology applications and industrial policies. The collaboration aims to drive forward-looking planning of industry "infrastructure," actively participate in demonstration projects, and promote digital transformation and intelligent upgrading across the sector. Read more

Taimei Medical Technology and Sumitomo Pharma Enter Strategic Partnership

On November 6, Taimei Medical Technology and Sumitomo Pharma signed a strategic partnership agreement for decentralized clinical trials (DCT). The two companies had previously collaborated on remote monitoring technology in the DCT space. This new strategic partnership marks another deep collaboration in clinical trial digitalization, using innovative digital technologies to improve trial efficiency and quality, support the smooth conduct of clinical trials in the post-pandemic era, accelerate drug time-to-market, and benefit more patients. Read more

Xiaobing Raises RMB 1 Billion in New Funding

In November, Xiaobing announced the completion of RMB 1 billion in new funding. The round will be used to accelerate R&D for the AI Being Xiaobing framework and drive adoption of digital employees. Additionally, Xiaobing announced its annual upgrade to its AI digital employee product line. Enhanced technologies include large-model dialogue engines, 3D neural network rendering, hyper-realistic voice, and AIGC (AI-generated content). Some of these new technologies have already been deployed in digital employees recently launched by China Merchants Capital, including "Zhao Xiaoying," and the Winter Olympics digital coach "Guan Jun." Xiaobing plans to complete upgrades for all 300,000 digital employees currently running on its framework within the next quarter, further solidifying its global leadership in digital employee products. Read more

Pony.ai and Toyota Unveil Robotaxi at CIIE

On November 5, at the fifth China International Import Expo, the Toyota Sienna Autono-MaaS (Autonomous Mobility-as-a-Service) vehicle equipped with Pony.ai's sixth-generation L4 autonomous driving hardware and software system made its public debut in China. This model represents another important milestone in the strategic partnership between Pony.ai and Toyota for high-level autonomous driving mobility services. Pony.ai has begun standardized production of the first batch of vehicles equipped with ADK (Autonomous Driving Kit) and completed four months of closed-road testing. The first batch of vehicles will be deployed in first-tier Chinese cities in the first half of 2023 to provide autonomous mobility services. Read more

Xiaomi Partners with Checkout.com

On November 23, Checkout.com, a leading global payment solutions provider, announced a payment partnership with Xiaomi. Checkout.com will provide end-to-end, one-stop payment solutions for Xiaomi in Hong Kong and Macau, significantly simplifying payment processes to support its global payment strategy and growth objectives. This partnership targets Hong Kong and Macau, key regions in Xiaomi's global expansion. As one of the earliest phone manufacturers to launch payment features, Xiaomi began building out its mobile payment business in 2016. After multiple rounds of business integration, Xiaomi can now aggregate various lifestyle scenarios for customers, enhancing its near-field payment ecosystem. Read more

Xpeng G9 Receives Guangzhou Autonomous Driving Road Test License

Following approval from the Bureau of Industry and Information Technology, Public Security Bureau, and Transportation Bureau, the Xpeng G9 successfully obtained a Guangzhou intelligent connected vehicle road test license. This means the Xpeng G9 has pioneered a disruptive technical approach and business model for urban autonomous driving using pre-production vehicles. The Xpeng G9 will conduct road tests on Guangzhou's urban test roads, with the ultimate goal of progressing to commercial Robotaxi passenger operations. The licensed Xpeng G9 is a completely stock production vehicle with only software upgrades — making it the first known zero-modification production vehicle to receive autonomous driving road test qualification in China. Read more

WeDoctor and Jike Group Enter Strategic Partnership

On November 25, WeDoctor and Jike Group signed a comprehensive strategic partnership agreement. The two parties will leverage their respective strengths in digital intelligence technology and rich medical resources to collaborate deeply in healthcare institution empowerment, digital marketing for healthcare institutions, and healthcare financial services. Together, they will promote more efficient connections and greater information transparency in the consumer healthcare industry, building a patient-centered, mutually beneficial smart service ecosystem for consumer healthcare. Read more

YAHAHA Closes $40 Million Series A+ Round

Metaverse UGC platform YAHAHA officially announced the completion of a $40 million Series A+ round, co-led by Temasek and Alibaba, with 37 Interactive Entertainment participating. The funding will be used for product iteration, community ecosystem building, and team expansion. The company released the Alpha version of its product in April 2022, with users overseas already able to download it on PC/Mac/mobile and interact cross-platform. As of October, YAHAHA's product had attracted over 100,000 registered users. As the product further reaches the market, the YAHAHA team has expanded to nearly 200 people, with offices in Shanghai, Finland, and Seoul. The company will continue establishing offices in additional regions and recruiting local teams. Read more

Multiple 5Y Portfolio Companies Named to 36Kr's "WISE2022 New Economy Kings" List

In October, tech media outlet 36Kr launched its "WISE2022 New Economy Kings" research series, focusing on ten hot tracks: frontier technology, enterprise services, consumer lifestyle, automotive and mobility, cross-border services, healthcare, green energy, semiconductors, advanced manufacturing, and culture and content, to identify the leaders driving innovation in the new economy. Through multiple rounds of selection from nearly a thousand applicant submissions, combined with input from a professional review panel, 36Kr officially released the "WISE2022 New Economy Kings" results in November. **5Y portfolio companies PingCAP, Deepcool, HAI ROBOTICS, StartDT, Moore Threads, Moody, Daily Black, Agora, Soul, ATRenew, Future Robot, WeDoctor, Pony.ai, XYZ Robotics, and YAHAHA made the list. Read more**

02

5Y Capital Updates

A Green Paper for VC Practitioners in an Era of Upheaval | 5Y View

This is an original article from 5Y Capital partner Kai Liu. Since the industry's inception, VC has been a product of cyclical change — investing in technology and innovation, disrupting the status quo, and improving productivity to drive and influence cycle transitions. Markets have their highs and lows, moments when people doubt and waver. If investing in innovation is VC's mission, then actively iterating and evolving through each cycle transition must necessarily become VC's first law of survival — and only a fortunate few have the capacity to adapt to this difficult game.

Seeking out, discovering, and supporting true innovators — this is what 5Y has focused on for many years, and what we continually expect of ourselves as we evolve. Read more

"Consistent Effort, a Life Without Slack" | 5Y Tavern Vol. 9 x Yuan Xingyuan of ColorfulClouds

In this episode of 5Y Tavern, Yuan Xingyuan — creator of Caiyun Xiaomeng and founder & CEO of ColorfulClouds — shares his story. ColorfulClouds now has three products: Caiyun Weather, Caiyun Translate, and Caiyun Xiaomeng. Seemingly in different domains, they actually represent Xingyuan's consistent effort in one direction — how to make AI as intelligent as humans to better serve society. As ColorfulClouds' slogan puts it: AI makes life better. Xingyuan discusses his persistence as an AI scientist and his growth as a founder and CEO. The article is somewhat long, but it may inspire you. Read more

AIGC as a New Species: How Can AI Unleash Creativity and Productivity? | 5Y 3Sigma Roundtable

Over the past year, AI has brought significant changes to content generation, and AIGC has gradually attracted increasing attention from researchers and industry. Where is AIGC technology heading? How will human-AI interaction evolve? How can AI be leveraged to unleash creativity and productivity? How do AIGC products create and sustain value and moats?

In the fourth 5Y 3Sigma Roundtable, we returned to the topic of AIGC, inviting eight industry professionals and entrepreneurs from the field for discussion. Each guest shared substantive insights. We welcome you to continue following and signing up for 3Sigma Roundtable events. Read more

5Y Capital Receives Multiple Awards from Jiemian News, Jazzyear, and China FOF Research Center

On November 7, Jiemian News released its "REAL 100 Innovators," "REAL 100 Innovation Institutions," and "REAL Company 2022" lists. Over four months, Jiemian News partnered with over 70 top investment institutions to select companies, investment firms, and product projects that best represent cutting-edge industry trends from hundreds of shortlisted candidates. 5Y Capital was named 2022 AI Innovation Institution of the Year. Read more

On November 30, Jiemian News released its "China Top Venture Capitalists" list for the sixth time. The list primarily evaluates mainstream and active venture capitalists' new investments and exits over the past three years, selecting 50 top venture capitalists of the year based on their performance and participation and contribution to their portfolio companies. Qin Liu, founding partner of 5Y Capital, ranked #2 on the "2022 China Top Venture Capitalists" list.

Tech media outlet Jazzyear announced its "2022 China Tech Industry Investment Awards" in November, recognizing tech industry investors, investment institutions, and other organizations with outstanding investment performance, strong growth momentum, and deep industry influence over the past year. 5Y Capital was named to "China's Top 50 Hard Tech Startup Investment Institutions 2022," and Qin Liu was named to "Top 50 Tech Investors of 2022." Read more

Additionally, China FOF Research Center officially released its 2022 specialized lists on November 12. 5Y Capital was named to "China's Top 20 Enterprise Service Investment Institutions 2022" and "China's Top 30 Unicorn Investment Institutions 2022." Fei Zhang, partner at 5Y Capital, was named to "Top 10 AI Investors 2022." Read more

5Y Capital seeks out, supports, and inspires lone entrepreneurs, providing support from the spiritual to the operational. We believe that if the "crazy you" in others' eyes begins to be believed in, the world will become a different place.

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