No Fear of a Long and Difficult Road | 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 from 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 News
Awards, investor interviews, and thought leadership from 5Y.
Note: Companies are listed in alphabetical order by pinyin.
01
Portfolio Company Highlights
Horizon Robotics Receives Strategic Investment from Chery Automobile
In September, Horizon Robotics announced and completed a strategic investment from Chery Automobile. The funds will be used primarily for R&D iteration and mass production of in-vehicle intelligent chips. The two companies also announced they are formally expanding their partnership — building on existing collaboration in intelligent in-vehicle interaction — into advanced assisted driving. Under the plan, Chery's new premium intelligent EV platform, the E0X, will use Horizon's Journey® 3 chip as its compute foundation. The platform will include at least five intelligent vehicle models at L2+ and above, with the first model, the Chery E03, launching in 2023 with highway and urban NOP assisted driving capabilities. Additionally, mass-production ADAS models based on the Journey 2 chip will roll out in 2022. Read more
XtalPi Partners with Jikang Bio to Develop GPCR Antibody Drugs
In September, XtalPi signed a partnership agreement with Jikang Bio. The two companies will combine their respective strengths — leveraging Jikang's unique know-how in GPCR targets and XtalPi's AI-powered integrated antibody discovery platform — to conduct antibody drug R&D for two GPCR targets. Drawing on their combined practical experience in GPCRs and AI-enabled drug discovery capabilities, the partners aim to overcome technical obstacles in GPCR antibody discovery. Read more
Kuaishou Debuts StreamLake and Virtual Studio Assistant at WAIC 2022
On September 5, at the 2022 World Artificial Intelligence Conference (WAIC), Kuaishou showcased StreamLake and Kuaishou Virtual Studio Assistant. The company also announced the establishment of its Shanghai R&D center — Xingzhen Technology (Shanghai) Co., Ltd. Kuaishou Virtual Studio Assistant is a virtual human driving and broadcasting tool for PGC use. It integrates one-stop capabilities for 3D virtual humans and virtual scenes, features self-developed camera-driven algorithms, supports multiple wearable full-body motion capture hardware devices, offers rich special effects and interactive features, and supports multi-platform live streaming — helping clients build metaverse live broadcast rooms. Read more
moody Forms Strategic Partnership with Star Optical
On September 5, leading colored contact lens brand moody held the "moody X Star Optical (Baodao Eyewear) Color Lens Emotion Space Station" launch event in Shanghai, announcing that moody will enter Star Optical's Baodao Eyewear retail stores. The brand will fully develop a long-term "online + offline" omnichannel strategy. The two parties will pursue a long-term strategic partnership with deep collaboration on product diversification and professional services, achieving complementary strengths and resource sharing between a high-potential new brand and an established professional channel — guiding consumers toward more scientific, standardized colored contact lens use and promoting healthy industry development. Read more
SenseTime Partners with Saudi AI Company SCAI
SenseTime announced a partnership with the Saudi Company for Artificial Intelligence (SCAI). SCAI will invest 776 million Saudi riyals (approximately RMB 1.429 billion) in SenseTime MEA — a joint venture established by SenseTime and Saudi Arabia's Public Investment Fund (PIF) in late 2021 — with the entity building a high-end AI laboratory locally. SenseTime will work closely with SCAI to jointly develop AI solutions for smart cities, smart business, smart healthcare, and education, while pushing for localization of cutting-edge computer vision and deep learning platforms — helping advance local knowledge and technology development in Saudi Arabia. Read more
Shukun Technology Releases Digital Human 2.0
In September, the 2022 China International Fair for Trade in Services — a national, international, comprehensive exhibition hosted by the Ministry of Commerce and the Beijing Municipal Government — was held in Beijing, with Shukun Technology invited to participate. The company made a major on-site release of its upgraded "Digital Human 2.0" smart healthcare solution, using cutting-edge achievements from the deep integration of internet, big data, AI, and healthcare industries to empower hospitals and regions. Shukun also held a joint offline demonstration with Beijing Friendship Hospital, Capital Medical University, introducing its industry-first "Digital Heart" and "Digital Abdomen" product pipelines to over 400 Fortune Global 500 and leading international companies attending the event. Read more
Soul Launches First Digital Collectible "Mobius"
On September 9, Soul launched its first digital collectible sale. The "Mobius" series sold out in just minutes. The collection comprises 12 base character avatar virtual goods with associated benefits, with 15,996 units issued at prices ranging from RMB 108 to 158. These digital collectibles can be used as avatars in the Soul App and for interaction, offering significant collection value and rich social value. This also represents an upgrade of Soul's metaverse virtual identity, building on its existing face-molding system.
Pony.ai Partners with SAIC AI Lab
On September 27, Pony.ai announced a partnership with SAIC Group's Artificial Intelligence Laboratory (SAIC AI LAB) to jointly explore autonomous driving technology R&D and robotaxi operations. Under the collaboration framework, the two parties will integrate their respective strengths to advance fully driverless autonomous vehicle development. They have jointly developed a fully driverless autonomous driving concept vehicle based on the SAIC Marvel-R model, which debuted at the "Realm of the Driverless" event held at Shanghai Auto Expo Park on the same day, providing shuttle services for event guests. Read more
Xpeng Motors Donates RMB 1 Million to Sichuan Luding Earthquake Relief
On September 5, a 6.8-magnitude earthquake struck Luding County, Garzê Prefecture, Sichuan, a disaster that deeply affected people across the country. On September 8, Xpeng Motors donated RMB 1 million through the Xpeng Foundation to the China Foundation for Rural Development, with funds focused on transitional resettlement and post-disaster reconstruction projects in the Luding earthquake zone. The two organizations will also jointly explore public education programs on disaster prevention and mitigation in the Sichuan region.
Xpeng AeroHT "Sets Out" for Dubai, Launching Global Path for Flying Cars
On September 9, Xpeng AeroHT held a "send-off ceremony" at its Guangzhou R&D center. An 11-member project team will travel with three intelligent electric flying cars — the Voyager X2 — to Dubai for compliance verification flight tests. From October 10–14, they will participate in GITEX GLOBAL 2022, the world's largest tech event. The latest Voyager X2 is a two-seater intelligent electric flying car with a carbon fiber body. With flight wings extended, its dimensions are 4.79m x 4.78m x 1.36m, with an empty weight (including battery) of 560 kg. It offers up to 35 minutes of flight time, a maximum altitude of 1,000 meters, and a top speed of 130 km/h. Read more**
Galaxy Space Completes New Funding Round
Chinese commercial aerospace company Galaxy Space announced the completion of its latest funding round, with a post-money valuation of approximately RMB 11 billion. The round was led by CCB International, with Anhui Sanzhongyichuang Fund, Hefei Industry Investment, and Zhenwei Capital participating, and existing shareholders Legend Capital and Chaos Investment making follow-on investments. Proceeds will be used primarily for R&D of satellite internet-related technologies and development of commercial applications. Galaxy Space will accelerate breakthroughs in core technologies including stackable flat-panel satellites, multi-beam phased arrays with flexible on-satellite allocation, flexible solar arrays, and digital processing payloads, while building low-cost, batch manufacturing capabilities for satellites — steadily advancing toward the 6G era of high-speed ubiquitous connectivity, integrated terrestrial and space networks, and Internet of Everything. 5Y participated in Galaxy Space's Series A in 2018 and has continued to support the company through multiple subsequent rounds. Read more**
02
5Y Capital News
5Y Wins Multiple Awards from 36Kr, Cyzone, Jinhui Awards, and Venture Capital Research Institute
In September, 36Kr released its 2022 series of lists covering "Local Market," "White Horse/Dark Horse," and "Most GP-Followed LP" investment institutions. The White Horse/Dark Horse series is 36Kr's window into tracking market changes and identifying standouts amid market rotations. The lists evaluate firms on fundraising, investment, portfolio management, and exits — with extensive LP input and, reflecting this year's market conditions, particular emphasis on GP fundraising. 5Y was named to the Top 10 Chinese VC Firms Most Recognized by LPs. Read more**
Cyzone released its 2022 list of China's Most Admired Venture Capital Institutions. The lists were compiled from registration data and Ruishou Analytics data for initial screening, with nearly 300 senior investors from outstanding VC institutions invited to vote. They selected their most admired firms based on comprehensive performance in investment track record, post-investment services, industry standing, innovation, long-termism, talent attraction, and ESG practice. 5Y Capital was named to the Top 50 Chinese VC Firms Most Admired in 2022. Read more**
The "5th Jinhui Awards Annual Ceremony & China Private Equity Summit," hosted by the Jinhui Awards organizing committee, was successfully held, with the Jinhui Awards 2021 China Private Equity lists released during the event. The lists underwent multiple rounds of rigorous review, fully considering the challenging economic factors of the moment — recognizing institutions and individuals with outstanding achievements in 2021. 5Y was named to the Top 30 Most Influential Industrial Investment Funds and Top 10 Most Active Industrial Investment Funds of 2021. 5Y Capital partner Zhang Fei was named to the Top 50 Industrial Investors Most Favored by Fund-of-Funds in 2021. Read more
On September 23, the Venture Capital Research Institute released its 2022 China Venture Capital Industry Annual List — Golden Investment Awards. Through data analysis, performance evaluation, industry influence, and other multi-layered rigorous screening, the awards selected winners for both comprehensive and industry-specific lists. 5Y was named to the Top 30 Most Influential Investment Institutions and Top 30 Best Internet/Mobile Internet Investment Institutions of 2022. Read more
Technology, Product, Emotion: What Possibilities Does AIGC Open Up? | 5Y 3Sigma Roundtable
From assistive tool to creative agent, AI is gaining increasing attention in content creation. When artificial intelligence meets imagination, will it spark a new Renaissance or fundamentally transform how we consume content? Can AI replace the genius of artists? What are entrepreneurs in this space exploring, thinking about, and puzzling over?
How will AI + imagination disrupt digital content creation and consumption markets? At the second 5Y 3Sigma Roundtable, 11 entrepreneurs in this field shared their experiences and perspectives. We've excerpted some highlights — we hope they inspire you. Read more
5Y 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 starts to be believed in, the world will become a different place.
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