Looking at the Other Side of the Coin | October & November Report
Grateful for what life has given
We welcomed Thanksgiving during this bimonthly period. Thanksgiving Day — a time to appreciate life's gifts.
The essence of gratitude lies in perspective. Focus on what you gain, not what you lose. On friends, not enemies. On joy, not frustration. On courage, not fear. On health, not wealth. Just as Beijing has turned bitterly cold, how could idle chatter in the winter sun be complete without that warm sunshine? ☀️
BlueRun Ventures Exclusive Investment
Zhuling Technology Raises Tens of Millions of RMB in Seed Round
This round of funding will be used primarily for team building and product R&D. Zhuling Technology is a high-tech company focused on the R&D and application of construction robots, with two main business directions: complete construction robot products and core components.
BlueRun Ventures Follows On
Zhitai Bio Closes Nearly RMB 200 Million Series B+ Round
The proceeds from this round will be used mainly to advance clinical trials for its First-in-class and Biosimilar pipelines. Zhitai Bio's production base is nearing completion and will soon be operational. With this funding round completed, the company will be positioned to accelerate industrial落地 and expand into domestic and international markets. BlueRun Ventures was the lead investor in Zhitai Bio's Series B round.
BlueRun Ventures Follows On
Don Quixote Closes RMB 100 Million Series B Round
The funds will be used primarily for technology R&D, market expansion, and new business development. Founded in 2016 and incubated by construction technology giant Glodon, Don Quixote is a full-stack collaborative platform for digital construction of chain retail spaces, providing one-stop digital turnkey delivery services covering design, construction, and operations for commercial retail spaces. BlueRun Ventures was the lead investor in Don Quixote's Series A+ round and continued to invest in its Pre-B round.
Tian Cheng Technology
Receives Investment from Pappas Capital
This round also saw continued follow-on investment from existing shareholder Yuhang State Investment. Seizing this opportunity, Tian Cheng Technology will accelerate its international business development and significantly increase investment in talent acquisition and hiring for R&D and marketing in global markets. Additionally, Tian Cheng Technology will further advance deep collaboration with top international research institutions and clinical organizations, promoting its RaaS (Rehabilitation as a Service) innovative model for rehabilitation exoskeleton technology service platforms. BlueRun Ventures was the exclusive investor in Tian Cheng Technology's Series A round and participated in its Series A+ round.
Yuntu Semiconductor
Closes Hundreds of Millions of RMB in Series B1 Funding
Since its founding three years ago, Yuntu Semiconductor has adhered to a corporate development strategy that prioritizes both innovative R&D and commercial落地. This latest round of capital demonstrates the strong capabilities that have established Yuntu Semiconductor as a leading domestic automotive-grade chip company. BlueRun Ventures invested in Yuntu Semiconductor's Pre-A and Series A rounds.
Luchen Tech
Closes Nearly RMB 100 Million Series A+ Round
Luchen Tech is dedicated to unleashing AI productivity, building Colossal-AI — a general-purpose deep learning system for the large model era — to efficiently accelerate the practical application of large AI models. The integrated hardware and cloud platform built around Colossal-AI has achieved initial success, with rapid revenue growth. BlueRun Ventures was the angel investor in Luchen Tech.
Li Auto
Launches "Li MEGA"
The Li MEGA is a family tech flagship MPV, debuting with the Kirin 5C battery featuring peak 5C charging rate, peak charging current of 700A+, and peak charging power of 520KW+ — delivering the world's fastest EV charging speed: 500 km of range in 12 minutes of charging, enabling large Chinese families to travel worry-free. Meanwhile, Li Auto received MSCI ESG's highest "AAA" rating globally, becoming the first Chinese automaker to earn this "AAA" distinction.
BioMap
Partners with Sanofi to Develop Drug Discovery Models
In October, BioMap and Sanofi announced a collaboration to jointly develop leading models for biotherapeutic drug discovery based on BioMap's Life Science AI Foundation Model. Separately, BioMap's academic version of its protein large language model was featured on the cover of a Nature sub-journal, achieving a breakthrough in "Folding with Large-scale Protein Language Model" with speed improvements of over 100x on benchmark tasks, representing a new leap forward for protein structure prediction.
Luchen Tech
Launches Low-Cost Large Model Integrated System
Luchen Tech partnered with multiple mainstream hardware vendors to launch the Colossal-AI Large Model Integrated System, combining Colossal-AI's extensive expertise in AI large models with its cost-reduction and efficiency-improvement capabilities to accelerate intelligent upgrades. In November, Luchen Tech received the High-Tech Enterprise Certificate jointly issued by the Beijing Municipal Science and Technology Commission, Beijing Municipal Finance Bureau, and Beijing Municipal Tax Service. Additionally, Luchen Tech founder Yang You was named to Forbes China's "Most Influential Chinese Elites."
Boray Data
Jointly Launches Intelligent Computing Integrated System Product Solution
Recently, Boray Data, Huakun Zhenyu, and Kunpeng Lianchun jointly launched their intelligent computing integrated system. Earlier, the prototype of this system had already been deployed in core business scenarios for telecom operators, intelligent manufacturing, and healthcare, meeting government and enterprise users' rapidly growing needs for intelligent computing system construction and evolving AI business requirements.
XinGan Technology
Launches TOLL Package MOSFET Product Series
XinGan Technology's TOLL package series SiC MOSFET products are well-suited for customer applications requiring high power, high current, and high reliability. Meanwhile, XinGan Technology formally established a strategic partnership with Sekorm Advanced (Shenzhen) Technology Co., Ltd., a leading professional semiconductor component distributor in China.
TCab Tech
Manned Electric Aircraft E20 eVTOL Completes First Flight Test
In October, TCab Tech's self-developed E20 eVTOL conducted its first flight test. The successful maiden flight marked the full贯通 of the E20 eVTOL's design, R&D, manufacturing, and flight capabilities. TCab Tech remains focused on commercializing manned eVTOL, dedicated to building safe and convenient aerial mobility vehicles, and has selected world-class partners to ensure the E20 eVTOL's high safety and reliability, ultimately aiming to obtain standard airworthiness certification.
Gaussian Robotics
Passes Second-Year Performance Review as National-Level "Little Giant" Specialized and Innovative Enterprise
Recently, the Ministry of Industry and Information Technology published the list of recommended national-level specialized and innovative "Little Giant" enterprises for continued support, with Gaussian Robotics among them. Meanwhile, Gaussian showcased four cleaning robots and innovative solutions at ISSA North America, with its Scrubber 50 cleaning robot shortlisted for the 2023 ISSA Innovation Award.
YunSheng Intelligent
Named 2023 National Intellectual Property Advantage Enterprise
Recently, the China National Intellectual Property Administration published the list of "2023 National Intellectual Property Advantage and Demonstration Enterprises," with YunSheng Intelligent successfully selected as a "National Intellectual Property Advantage Enterprise."
Tian Cheng Technology
Wins Second Prize of Zhejiang Provincial Science and Technology Progress Award
The achievement "Key Technology R&D and Industrialization Application of Exoskeleton Rehabilitation Robots," led by Tian Cheng Technology in collaboration with Zhejiang University, University of Electronic Science and Technology of China, and Zhejiang Provincial Institute of Medical Device Testing, won the Second Prize of Zhejiang Provincial Science and Technology Progress Award. Meanwhile, at the inaugural China Artificial Intelligence Industrial Design Competition awards ceremony held in Hefei, Anhui, Tian Cheng Technology's UGO rehabilitation exoskeleton robot won the Silver Award.
Moyun Security
Receives CNNVD Second-Level Contribution Award
Recently, the China National Vulnerability Database (CNNVD) publicly recognized organizations and individuals who played active roles in China's cybersecurity vulnerability early warning and risk mitigation efforts. Beijing Moyun Technology Co., Ltd. actively responded to tasks including original vulnerability discovery, vulnerability reporting, and vulnerability analysis, and was awarded the CNNVD Second-Level Contribution Award. In November, China Unicom and the China Industrial Economics Federation co-hosted the Cybersecurity Modern Industrial Chain Co-Chain Action Plan and Strategic Emerging Industries Co-Creation Launch Conference in Beijing, where Moyun Technology was invited to participate and signed the co-chain ecosystem plan at the conference, jointly building a new model for industrial chain integration and development.
Nuclei System Technology
Appears at 2023 RISC-V North America Summit
Nuclei System Technology CEO Jianying Peng was invited to speak at the RISC-V North America Summit. As an exhibitor, Nuclei System Technology showcased its full range of CPU IP products and solutions, with its newly released ASIL-D certified RISC-V core and related products attracting significant attention.
Anxin Shield
Continues Presence at GITEX GLOBAL, the World's Largest Tech Exhibition
H.E. Dr. Mohamed Hamad Al-Kuwaiti, Chairman of the UAE Government Cybersecurity Council, visited the Anxin Shield booth. During the event, Anxin Shield was shortlisted for the Strategic Media ITP's annual Technology Leaders Awards as Security Innovator of the Year. Meanwhile, at the "2022-2023 China Cybersecurity and Information Industry Golden Intelligence Award Ceremony" hosted by the Information Security and Communications Privacy Magazine in Shanghai, Anxin Shield CEO Xiangqian Jiang received the "Golden Intelligence Award Rising Star of the Year."
Bluecore Technology
Receives Multiple Recognitions
2023 Hangzhou Patent Demonstration Enterprise | Kunpeng Unicorn | KPMG China - Future Unicorn AI Innovation Dual 30 (Yangtze River Delta Region)
ReviR Therapeutics
Receives Multiple Accolades
2023 Shenzhen Innovative SME | 2022-2023 China Pharmaceutical Innovation Value Discovery Top 100 | 15th China Pharmaceutical Entrepreneurs Scientists Investors Conference | 2023 Guangdong-Hong Kong-Macao Greater Bay Area High-Growth Enterprise Top 100 | 2023 Greater Bay Area Innovation Economy Forum | Runner-up | Innovation Nanshan 2023 "Star of Entrepreneurship" Competition Finals
Ascend Energy
Joins Greater Bay Area Supercharging Industry Alliance
At the 2023 Sustainable Built Environment Conference Asia-Pacific, Ascend Energy and China Construction Science and Industry Corporation held a strategic cooperation signing ceremony. At the conference, the Greater Bay Area Supercharging Industry Alliance was established, with Ascend Energy joining as one of the first batch of member units.
Youibot
Establishes Joint Innovation Laboratory with Xinjiang University
The joint innovation laboratory aims for mutual success in scientific research achievement transformation, technology talent cultivation, and enterprise application services, promoting regional industrial intelligence, green development, and sustainability through deep industry-academia integration.
Borey Recycling
Approved as Jiangsu Province Retired Lithium Battery Regeneration and Utilization Engineering Technology Research Center
The research center aims to promote technological innovation by strengthening engineering R&D platform construction, conducting engineering technology research, testing, and complete technical services, developing common and key technologies for industrial development, continuously providing mature supporting technologies, processes, equipment, and products, promoting achievement transformation and technology diffusion, and driving technological advancement in related industries.
Wanxun Technology
Orion Series Flexible Robot Operation Platform Officially Enters DJI Industry Ecosystem
In November, Wanxun's self-developed Orion AP30-N1 flexible robot operation platform was officially listed on DJI's website under Industry Applications - Ecosystem Solutions, breaking through boundaries in aerial industry applications. Meanwhile, at the "2023 Greater Bay Area Sustainable Development Series Events Week," the company was named to the "2023 Greater Bay Area High-Growth Enterprise Top 100" list and received the "Greater Bay Area High-Growth Enterprise Club" plaque.
Machenike
Named 2022 Shanghai Jiading District "Little Giant" Enterprise
The Shanghai Jiading District government cultivates "Little Giant enterprises" with core competitiveness to promote enterprise technological innovation and brand building. This honor represents the district's high recognition of Machenike's technical capabilities and outstanding innovation R&D performance. Meanwhile, Machenike founder and CEO Dr. Feilong Liu received the 2023 Shanghai Jiading District Entrepreneurship Leading Talent Award.
NOLO VR
Ranked Among China's VR Top 50 for Fifth Consecutive Year
In October, the 2023 World VR Industry Conference opened in Nanchang, Jiangxi, themed "VR Makes the World More Wonderful — Integration of Virtual and Real, Intelligence Empowering All Industries." Since first breaking into China's VR Top 50 in 2019, NOLO has made the list for five consecutive years, and won the "World VR Industry Conference VR/AR Innovation Award" for its NOLO SONIC 2 product.
Yuntu Semiconductor
Receives Multiple Recognitions
2022 "Innovation China" Youth Entrepreneurship List Yangtze River Delta - Star of G60 | China Association for Science and Technology | 5th "Golden Edit Award" - 2023 Most Growth-Valuable Enterprise Award | Gasgoo Auto
YunChu New Energy
Named to Top 10 National Finalists in MIIT Energy Storage Battery Life Prediction Competition
The YunChu New Energy team leveraged its deep technical expertise and extensive practical experience, developing a highly efficient and accurate energy storage battery life prediction algorithm through in-depth mining and analysis of large volumes of data. In the competition, four team members collaborated to achieve precise prediction results and successfully completed the competition tasks.
36Kr
WISE2023 King of Business
Annual Enterprise Series List
Advanced Manufacturing | Youibot, AgiBot
Healthcare | BioMap
Logistics and Transportation | Muyi Robotics
Jiemian News
REAL 100 Innovators
AI Track - Xinchen AI
Hard Tech Track - Muyi Robotics, TCab Tech
ChinaVenture Jui Chan | 2022-2023 China's Best Early-Stage Investor TOP50
ChinaVenture & Global Entrepreneurship Week Organizing Committee Jui Chan | 2023 Angel Investor TOP3
China Securities Journal
7th China Equity Investment Golden Bull Awards
BlueRun Ventures | Golden Bull Venture Capital Excellence Institution
BlueRun Ventures | Golden Bull Big Data and AI Sector Excellence Investment Institution
Jiemian News
2023 China's Top Venture Capitalists List
Jui Chan | 2023 China's Top Venture Capitalist
Jiemian News
REAL 100 Innovative Institutions
BlueRun Ventures | Annual Enterprise Service Innovation Institution
Cyzone
2023 Most Admired Venture Capital Institutions List
BlueRun Ventures | Top 30 Most Admired Early-Stage Investment Institutions
BlueRun Ventures | Top 40 Intelligent Manufacturing Sector
BlueRun Ventures | Top 20 AIGC Sector
BlueRun Ventures | VC Institution ESG Best Practice Award
Previous Content
Originating in Silicon Valley, BlueRun Ventures was established in 2005 and is a venture capital firm focused on early-stage startups.
Currently, BlueRun Ventures manages multiple USD and RMB dual-currency funds in China, with assets under management exceeding RMB 15 billion, making it one of the largest early-stage funds domestically. Its investment stage focuses on Pre-A and Series A rounds, covering technology, consumer, and healthcare sectors, with nearly 200 portfolio companies including Li Auto, Waterdrop, QingCloud, Guazi.com, Qudian, Ganji.com, Energy Monster, Gaussian Robotics, Songguo Mobility, Yuntu Semiconductor, Machenike, YunSheng Intelligent, Anxin Shield, BioMap, and others.
BlueRun Ventures has been ranked #1 in Zero2IPO's "China Early-Stage Investment Institutions Top 30" and #1 in ChinaVenture's "China Best Early-Stage Venture Capital Institutions TOP30," and was named to Preqin's Top 10 VC Fund Managers Globally for Sustained High Returns.
Additionally, BlueRun Ventures has repeatedly received honors from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media organizations, including "Annual China's Best Early-Stage Institution," "China's Top Venture Capital Institutions," "Annual Most Entrepreneur-Friendly Early-Stage Investment Institution," and "Annual Most Influential Early-Stage Investment Institution."