August: Reasons to Stay Confident | 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 from 5Y and our portfolio companies, sharing it 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 thought leadership.
Note: Companies are listed in alphabetical order by pinyin.
01
Portfolio Company Highlights
Horizon Robotics Deepens Strategic Partnership with SAIC and Z-ONE
On July 18, Horizon Robotics announced a deepened strategic partnership with SAIC and Z-ONE focused on SAIC's "Galaxy" full-stack intelligent vehicle solution — spanning computing platforms, electronic architecture, software platforms, intelligent cloud platforms, and cockpit-driving fusion digital experience products. Horizon Robotics and SAIC will jointly build an intelligent driving computing platform powered by the Journey 5 chip, as well as a cockpit-driving fusion domestic computing platform featuring the next-generation high-computing-power Journey 6 chip. The two platforms are expected to reach mass production in 2023 and 2025 respectively. The two parties also plan to jointly develop future-oriented high-computing-power chips and computing platforms. Read more
Deepexi Completes B+ Round
In July, Deepexi announced the completion of its B+ round, led by AVIC Industry-Finance Holdings with participation from select major existing shareholders, raising RMB 110 million. With this, Deepexi has become a unicorn in the new generation of lakehouse-integrated data intelligence infrastructure software. This follows last August's USD 100 million strategic B round led by financial industry capital, and marks another strategic investment from important state-owned enterprise industry capital, further accelerating growth in critical foundational industries such as advanced manufacturing represented by aviation. 5Y Capital led Deepexi's Series A in 2019 and has continued to support the company through two subsequent rounds. Read more
HAI ROBOTICS Partners with U.S.-based Pop.capacity
In July, HAI ROBOTICS formed a partnership with Pop.capacity, a U.S. leader in supply chain technology, committed to using the most advanced robotics and automation solutions to remove bottlenecks for customers and build "frictionless" supply chains. Pop.capacity was first in the industry to propose the concept of "frictionless" supply chains, combining years of supply chain expertise with advanced technology. The company uses digital warehousing and other technical solutions to address supply chain blockages, carving out unique advantages in this space. HAI ROBOTICS provides Pop.capacity with multiple options, including complete warehouse automation systems and a "startup option" using smaller numbers of robots. Read more
Vastai Technologies Forms Strategic Partnership with Gosuncn
On July 18, Vastai Technologies signed a strategic cooperation agreement with Gosuncn. The two parties will carry out deep collaboration around chip solutions and ecosystem development in smart transportation fields including connected vehicles and vehicle-road coordination, jointly launching highly competitive products and industry solutions to advance the digital and intelligent transformation of smart transportation. Read more
Helixon Achieves Breakthrough in Protein Structure Prediction
On July 22, Helixon, a leading Chinese AI drug discovery company, officially announced a major breakthrough at the intersection of AI and life sciences — the development of OmegaFold, a novel technology for protein structure prediction. OmegaFold is the world's first algorithm to solve the existing computer prediction paradigm for 3D structures, capable of predicting protein 3D structures from single protein sequences alone. This represents a milestone achievement in the history of computational biology. Read more
LANDBASE's Daily Black Chocolate Secures Two Consecutive Rounds Exceeding RMB 100 Million
In July, LANDBASE announced that its emerging consumer brand Daily Black Chocolate completed two consecutive funding rounds exceeding RMB 100 million in Q2 2022. The rounds were led by Ruiyi Investment, with participation from Gopher Asset, Pernod Ricard's venture fund, and follow-on investments from existing shareholders 5Y Capital and Yuanxing Capital. The latest funding will be used for R&D and product innovation, offline channel expansion, team building, brand digital intelligence upgrades, and global supply chain expansion. Read more
Moore Threads Forms Strategic Partnership with Zhejiang Wasu
Moore Threads and Zhejiang Wasu recently signed a strategic cooperation agreement. The two parties will collaborate based on Moore Threads' multi-function GPUs and meta-computing solutions to advance Zhejiang Wasu's AI innovation applications and digital construction, meeting the company's long-term high-speed digital development needs. Drawing on their respective technical capabilities and resource advantages, the two will jointly explore how to empower more digital applications through "meta-computing" and build a domestic AI capability platform ecosystem. Read more
SenseTime Forms Strategic Partnership with GAC
On July 26, SenseTime and GAC held a strategic partnership signing ceremony in Guangzhou. Leveraging SenseTime's leading original AI technology advantages and GAC's robust vehicle production and R&D capabilities, the two parties will pursue multi-level, diversified comprehensive cooperation in intelligent driving, smart cockpits, connected vehicles, automotive metaverse, AI toolchains, and supercomputing centers. Read more
Sensors Data Forms Strategic Partnership with JD Technology
Sensors Data and JD Technology signed a strategic cooperation agreement. The two parties will carry out deep collaboration in financial services and multiple vertical industries, achieving resource sharing and complementary advantages to jointly advance the intelligent supply chain and improve economic operational efficiency. Combining years of accumulated digital intelligence technology, operational experience, and scenario traffic resources, they will build a digital operations solution spanning from "data infrastructure" to "insight analytics" to "efficient operations," jointly driving digital transformation in finance, retail, and other industries to build new momentum for sector development. Read more
Pony.ai Approved for Commercial Driverless Ride-Hailing Pilot in Beijing
On July 20, Beijing's Intelligent Connected Vehicle Policy Pilot Zone opened China's first commercial driverless ride-hailing pilot, with Pony.ai among the first companies approved. This means Pony.ai's fully driverless vehicles — with no safety driver in the main seat — will be permitted to provide commercial autonomous ride-hailing services to the public within a 60 square kilometer core area of Beijing's E-Town. This marks another important breakthrough in the zone's driverless policy within three months, signaling that domestic driverless ride-hailing services have moved from demonstration operations to commercial piloting. Read more
Xiaomi Donates RMB 500 Million to Establish Beijing Natural Science Foundation Joint Fund
On July 7, the seventh Beijing Natural Science Foundation Committee inaugural meeting was held at the Zhongguancun Exhibition Center. At the meeting, the Beijing Natural Science Foundation and Xiaomi Foundation signed an agreement to establish the "Beijing Natural Science Foundation-Xiaomi Innovation Joint Fund." The Beijing Xiaomi Public Welfare Foundation will donate RMB 500 million to the foundation (RMB 50 million annually over ten years), with a focus on supporting basic research in artificial intelligence, electronic information, and intelligent manufacturing in Beijing. Read more
Lightelligence and Jaguar Microsystems Named to MIT Technology Review's 50 Smartest Companies
MIT Technology Review unveiled its 2021 TR50 list, oriented around the concept of a "sustainable future" and focusing on innovative forces "born in China, led by China, and serving China" to foresee companies capable of leading the wave of technological development in China and globally. 5Y portfolio companies Lightelligence and Jaguar Microsystems were selected. Since 2010, MIT Technology Review has annually selected the "50 Smartest Companies" (TR50) from thousands of technology companies worldwide to discern future technology trends. Read more
Multiple 5Y Portfolio Companies Named to 2022 Silicon 100
Global electronics and semiconductor magazine EE Times published its latest 2022 list of the 100 semiconductor startups most worth watching globally: Silicon 100: Startups to Follow in 2022. The Silicon list, first published in 2004 and now in its 22nd edition, has become the most closely followed list in the global semiconductor industry. In the 2022 Silicon 100, 20 Chinese semiconductor companies made the list. Four 5Y portfolio companies were selected: Horizon Robotics, Moore Threads, Vastai Technologies, and Silicon Integrated. Read more
Multiple 5Y Portfolio Companies Named to Fortune "2022 China's Most Socially Influential Startups"
On July 28, Fortune China published "2022 Fortune China's Most Socially Influential Startups." 5Y portfolio companies XtalPi, Abogen Biosciences, XiaoIce, GalaxySpace, METiS Pharmaceuticals, Shukun Technology, and Taimei Technology made the list. Fortune noted that even in unconventional economic environments, startups with innovative spirit that attend to the social meaning and value of their business tend to earn greater public recognition — and this is the main reason we remain confident about the future. Read more
Multiple 5Y Portfolio Companies Named to China Entrepreneur "2022 Top 21 High-Growth Innovative Companies" and "Rising 100"
On July 6, China Entrepreneur magazine published its "2022 Top 21 High-Growth Innovative Companies" and "Rising 100" lists. HAI ROBOTICS was selected among the 2022 "Top 21 High-Growth Innovative Companies," while METiS Pharmaceuticals, Silicon Integrated, ONES, BestSign, and Daily Black Chocolate were named to the 2022 "Rising 100." China Entrepreneur stated that the lists' theme is interpreting how companies that understand "inward growth" develop with resilience — hoping that amid great uncertainty, more companies will continue pursuing vision and greatness, traverse the hills, and become new forces creating the business future. Read more
Multiple 5Y Portfolio Companies Named to CB Insights "Active China Bio-Computing Companies in the Digital Economy Era"
In July, CB Insights published its 2022 list of active China bio-computing companies in the digital economy era. Helixon, XtalPi, Unknown, and Rivus Therapeutics made the list. CB Insights noted that the list focuses on bio-computing companies based in China, leveraging Chinese resources, and serving China, selected based on dimensions including technological innovation, pipeline progress, project partnerships, and funding. Read more
02
5Y Capital Updates
Agora x 5Y: 2022 Supersonic Program Spring Cohort Concludes
On July 16, the 2022 Spring Supersonic Program held its closing ceremony, officially concluding the spring cohort. Over three-plus months, 20 startup partners went through multi-module coursework and exchanges, discussions and refinement with Agora's technical and product buddies, and one-on-one mentoring from 5Y and other VC partners. Ultimately eight partner companies stood out to advance to the next round of deeper resource support.
Beyond additional matchmaking and resource support opportunities for the top eight, the top four will compete in the second RTE Innovation and Entrepreneurship Competition final at the October RTE Conference, alongside the fall cohort's top four and overseas startup teams, vying for the annual top three. All Supersonic partners will continue receiving full support from the "Super Co-Creation Accelerator." Read more
5Y Capital Named to "2022 Top 30 Asian AI Venture Capital Firms"
Hard Technology Asia Review published its 2022 Top 30 Asian AI Venture Capital Firms and 2022 Top 30 Most Influential Asian AI Investors lists, focusing on investment data for early to late-stage AI technology companies in Asia from 2019-2021. All core metrics were sourced from global public Chinese and English databases including TechCrunch, CrunchBase, Qimingpian, 36Kr Jingdata, IT Juzi, Qichacha, and Tianyancha. 5Y Capital was named to the "2022 Top 30 Asian AI Venture Capital Firms," and 5Y Capital partner Zhang Fei was named to the "2022 Top 30 Most Influential Asian AI Investors." Read more
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