BlueRun Ventures in September | A River Grows by Welcoming Every Stream

蓝驰创投蓝驰创投··0·0

Every harvest is a mixture of patience and time.

Every month, we'll round up the latest developments worth watching from BlueRun Ventures and our portfolio companies, and share our fresh thinking.

01

New · Funding Updates

Luchen Tech Closes $6 Million Seed and Angel Round

Luchen Tech recently announced the completion of a $6 million seed and angel round, with BlueRun Ventures leading the angel round and Sinovation Ventures and ZhenFund co-leading the seed round. Both rounds closed within a single year. The funds will be used primarily to bring on more talented teams and expand into new markets.

Founded in Beijing in July 2021, Luchen Tech has established an overseas R&D center in Singapore. The company is dedicated to unleashing AI productivity. Through proprietary technologies including efficient multi-dimensional parallelism, heterogeneous memory management, large-scale optimization libraries, and adaptive task scheduling, it has built Colossal-AI, a general-purpose deep learning system for the large model era. This system efficiently accelerates the deployment of large AI models, helping enterprises achieve intelligent industrial upgrades at low cost.

Penglai Data Closes Two Consecutive A-Round Series Raising Hundreds of Millions of RMB Within Six Months

Penglai Data, a leading domestic provider of innovative intelligent hospital operations management, recently announced the completion of Series A and A+ rounds totaling hundreds of millions of RMB within just a few months. The Series A was co-led by BlueRun Ventures and Yunqi Capital, with follow-on investments from Bojiang Capital, Legend Star, Hanyuan Assets (Shanghai Jiao Tong University alumni fund), and Nantong Feima.

As a next-generation intelligent hospital operations platform provider, Penglai Data has actively aligned with the policy direction of healthcare reform. In 2017, it was the first to launch a high-barrier performance evaluation system integrating RBRVS and DRGs, with a commanding lead in product bid wins. Over the past two years, the company has deepened its focus on modern hospital management models, driving innovative applications of digital technology in core scenarios. It has introduced an intelligent operations management system centered on lean performance, dynamic costing, intelligent budgeting, and operational excellence — alleviating economic pressures on hospitals and improving the efficiency of medical resource allocation. The company has cumulatively served nearly 400 hospital clients, over 80% of which are tertiary hospitals, with a client retention rate of 97%.

02

New · Milestones

LLVision Launches "Tingyuzhe" Consumer AR Glasses

On September 21, LLVision, a leading provider of AR+AI integrated solutions, held its first consumer-grade AR glasses launch event, unveiling the Tingyuzhe — the industry's first mass-produced AR subtitle glasses, and the world's first binocular waveguide wireless all-in-one AR glasses weighing under 80g. The product features excellent high-transparency display, fast and accurate speech-to-text capabilities, and a stylish, lightweight design. It can help hearing-impaired individuals, elderly people with hearing loss, and cross-language communicators overcome communication barriers anytime, anywhere. The first 1,000 early-bird units sold out within three hours of launch.

Lanxin Technology Releases Next-Generation "Intelligent Vision" Mobile Composite Robot

On September 21, Lanxin Technology officially released its next-generation "Intelligent Vision" mobile composite robot. The product is equipped with Lanxin Technology's self-developed Wukong series and Eagle series 3D vision sensors, integrating high-precision positioning and grasping with autonomous mobility. It features proprietary main control and business modules, offering high integration, strong stability, marker-free operation, high precision (up to ±0.2mm), rapid customization and deployment, and cross-regional scheduling capabilities. It can three-dimensionally recognize both dynamic and static obstacles as well as low-lying obstacles, avoiding the blind spots of traditional LiDAR-based obstacle avoidance and delivering superior safety performance.

BioMap Launches Beijing Central Lab, Unveils ImmuBot for the First Time

On September 9, BioMap, a bio-computing engine-driven breakthrough innovative drug R&D platform, officially launched its Beijing central laboratory and disclosed for the first time its de novo designed protein drug based on its bio-computing engine — "ImmuBot" (Immune Robot) — aiming to achieve precise reprogramming of the immune system to treat hundreds of immune-related diseases.

The Beijing central laboratory will serve as the core base for BioMap's self-developed "high-throughput immune experiment system." By integrating advanced technologies including gene editing, organoids, machine vision, single-cell omics, and automation, it will achieve high-fidelity simulation of the human immune system. This provides critical wet-dry closed-loop capabilities for immune target discovery and ImmuBot drug validation. Together with the thousands of square meters of high-throughput protein systems at BioMap's Suzhou R&D center, it will provide key support for the company's ImmuBot immune robot R&D.

Jishi Design Launches "Jishi AI"

On September 15, Jishi Design released its new "Jishi AI" feature, deeply integrating design with AI to enable every designer not only to let AI create images on its own, but to direct AI to create according to their own vision. Open "Jishi AI," describe the desired scene, construct basic shapes, control colors, adjust the layout — and the AI will complete the creation within seconds based on the information provided.

Youibot Becomes First Company to Obtain Large-Scale Insurance Coverage for Mobile Robots

Youibot recently partnered with China Re P&C, PICC P&C, and Dinghe P&C to insure its mobile robot products. This is China's first mobile robot insurance policy, setting a commercial precedent for industrial mobile robots. Youibot and its partners conducted thorough application scenario investigations and rigorous risk assessments. Targeting the main risks of mobile robots — including thermal runaway, mechanical, electrical, and cyber risks — they strictly designed risk solutions and innovatively launched the "Mobile Robot Quality Liability Insurance," safeguarding the high-quality development of the mobile robot industry.

Super Camel Supports Epidemic Prevention and Supply Assurance, Solving the "First Mile" Freight Problem

In early September, facing a new wave of COVID-19 outbreaks, Super Camel's unmanned logistics vehicles played a significant role across multiple wholesale markets in Chengdu at a time when market transportation capacity was severely tested. While achieving automated, contactless delivery, they significantly improved efficiency, enabling supplies to reach major supermarkets and markets across Chengdu more quickly and ensuring residents' daily needs were met.

The Super Camel 1.0 version has a loading capacity of 400–600 kg, while the 2.0 version carries 800–1,200 kg. Vehicles are controlled by a backend system; merchants can place orders anytime via mobile app. After loading, goods are transported to designated locations along planned routes — the entire process requires no human intervention, fully realizing automated, contactless delivery.

03

New · Industry Recognition

BlueRun Ventures Named to Golden Investment Award "2022 Top 100 Most Influential Investment Institutions in China"

On September 23, the 2022 China Venture Capital Industry Annual Ranking • Golden Investment Award Mid-Year List was unveiled. The list was compiled by China Venture Capital Research Institute based on nearly two decades of deep research and extensive market survey data, through multi-layered rigorous screening including data analysis, performance evaluation, and industry influence. It aims to comprehensively recognize investment institutions that have achieved major breakthroughs and outstanding contributions in China's venture capital industry while creating social value.

BlueRun Ventures was honored on the 2022 Golden Investment Award Mid-Year List with:

  • 2022 Top 100 Most Influential Investment Institutions in China
  • 2022 Top 30 Best Investment Institutions in Internet/Mobile Internet in China

BlueRun Ventures Ranks #2 on 36Kr's "Most LP-Recognized Early-Stage Investment Institutions"

On September 21, the 2022 China Fund Partners Summit was held in Hangzhou, where 36Kr released its 2022 investment institution series rankings. This year, 36Kr continued its evaluation criteria across fundraising, investment, portfolio management, and exits, widely soliciting and interviewing LP opinions — with added emphasis on GP fundraising performance given this year's market environment, ultimately producing comprehensive scores for established and emerging institutions.

BlueRun Ventures was awarded #2 on "2022 China's Most LP-Recognized Early-Stage Investment Institutions"

BlueRun Named #3 on Cyzone's "2022 China's Most Admired Early-Stage Investment Institutions"

On September 8, Cyzone officially released its 2022 Most Admired Venture Capital Institutions series rankings. The list combined application data and Ruishou Analysis data for initial screening, then invited nearly 300 senior investors from outstanding VC institutions to vote. Based on comprehensive performance in investment track record, post-investment services, industry position, innovation capability, long-termism, talent attraction, and ESG practices, voters selected their most admired institutions, with final rankings determined from aggregated voting results.

BlueRun Ventures was ranked #3 on "30 Most Admired Early-Stage Investment Institutions"

BlueRun Wins Nine Awards at 2021-2022 China PE/VC Industry Rankings

On September 4, the 2022 Global PE Forum was successfully held in Beijing. At the event, the "2021-2022 China PE/VC Industry Rankings," co-hosted by Global PE Forum and Caixin Data, announced its results. The rankings aim to objectively and fairly select investment institutions, intermediary service organizations, and investors that have achieved outstanding performance in China's PE/VC industry during the year, providing reference for the healthy and sustainable development of the industry.

BlueRun Ventures received the following 2021-2022 honors:

  • Top 10 Early-Stage Investment Institutions in China
  • Best Fundraising Early-Stage Investment Institution in China
  • Top 20 Most Active Investment Institutions in Healthcare in China
  • Top 20 Most Active Investment Institutions in AI in China
  • Top 20 Most Active Investment Institutions in Advanced Manufacturing in China
  • Top 20 Most Active Investment Institutions in Enterprise Services in China
  • Top 10 ESG Responsible Investment Demonstrations in China's Equity Investment Industry

BlueRun Ventures Partner Cao Wei received:

  • Outstanding Young Investor in China's Equity Investment Industry

"Gaussian Robotics," recommended by BlueRun, received:

  • Top 10 Excellent Investment Cases in China PE/VC

BlueRun Ventures Wins Three Awards at "WISH CHINA" 2022 New Energy Pioneer Rankings

Recently, the "WISH CHINA" 2022 New Energy Pioneer Rankings, jointly launched by Weixi Finance and Weixi Research Institute, were officially announced. The selection process spanned over two months, with nearly 100 investment institutions and over 200 new energy and carbon neutrality startups participating. After registration, preliminary review, research, scoring, and re-review, final results were determined by the selection committee.

BlueRun Ventures received three awards:

  • BlueRun Ventures: "Top 40 New Energy Pioneer Investment Institutions"
  • Jui Chan, Managing Partner of BlueRun Ventures: "Top 40 New Energy Pioneer Investors"
  • BlueRun portfolio companies Shengke Energy and YunChu: "Top 50 New Energy Pioneer Enterprises"

Three BlueRun Portfolio Companies Recognized as National-Level "Little Giant" Specialized and Innovative SMEs

Recently, three additional BlueRun portfolio companies were recognized as specialized and innovative enterprises. Among them, YunSheng Intelligence was selected as a "Little Giant" specialized and innovative enterprise in Tianjin's fourth batch, while HongSong and Songguo Mobility were selected in Beijing's 2022 fourth batch of specialized and innovative SMEs. To date, nearly 20 companies in the BlueRun portfolio have received this recognition.

Yimaiche Named to Hurun Global Gazelle Index 2022 Half-Year Report

The Hurun Research Institute recently released the Hurun Global Gazelle Index 2022 Half-Year Report, listing high-growth companies founded after 2000 with the highest likelihood of reaching unicorn status — a $1 billion valuation — within three years. Listed gazelles are typically valued between $500 million and $1 billion. BlueRun portfolio company Yimaiche was named to the list.

Six BlueRun Portfolio Companies Named to Hurun China Cheetahs 2022 Half-Year Report

The Hurun Research Institute recently released the Hurun China Cheetahs 2022 Half-Year Report, selecting high-growth companies with the highest likelihood of reaching unicorn status — a $1 billion valuation — within five years. This is the third time Hurun has published the "China Cheetahs" list. BlueRun portfolio companies BioMap, Boray Data, Bioheng, Changba, Shanzhen, and EasyStack were named to the list.

Boray Data Becomes Full Member of TPC

Recently, Boray Data became a full member of the Transaction Processing Performance Council (TPC), currently the only Chinese startup among 22 full members with "DATA+AI" as its core focus.

Founded in 1988, TPC is an international non-profit organization whose full members include top-tier computer hardware and software manufacturers such as Oracle, IBM, Microsoft, Intel, AMD, NVIDIA, Cisco, Huawei, Lenovo, and Inspur. Since its founding in 2014, Boray Data has pursued the goal of setting international standards, serving as a major participant in international standards for the database field and consistently working to advance Chinese standards globally. This membership marks an important step in Boray Data's accelerated progress toward its "international goals."

PPIO Named Only Startup in IDC Edge Cloud Report

Recently, PPIO was included as the only edge public cloud services startup in global research firm IDC's China Edge Cloud Market Analysis, 2022 report, ranking in the top 10 of the edge computing industry. Also selected were major cloud providers including Alibaba Cloud, Baidu, Tencent Cloud, and Huawei Cloud.

As a leading independent edge cloud service provider in China, PPIO stated during its 250 million RMB Series A round in May that it would invest in proprietary technology and edge infrastructure, while exploring scenarios with ultra-low latency requirements including ultra-low latency live streaming, cloud gaming, cloud rendering, connected vehicles, and spatial digitization.

Two BlueRun Portfolio Companies Named to "WISE2022 Hidden Champions: Future New Trend Enterprises"

On September 21, 36Kr held the WISE2022 Hidden Champions Future New Trends Conference in Nanjing, releasing 66 "WISE2022 Hidden Champions: Future New Trend Enterprises." "Hidden champion" enterprises are the "pearls" of industrial chains — they represent future industry development trends and possess tremendous growth potential as high-quality innovative enterprises. BlueRun portfolio companies WoodAnt Robotics and PPIO were named to the list.

Three BlueRun Portfolio Companies Named to 2022 China Metaverse Most Commercially Promising Technology Enterprises List

On September 27, at the 2022 Metaverse Summit hosted by Jazzyear, the "2022 China Metaverse Most Commercially Promising Technology Enterprises" list was announced, recognizing outstanding growth-stage technology companies with core technical strength and proven commercial success in the metaverse track during 2021-2022. Three BlueRun portfolio companies were selected: Wayz.ai was named to the Top 20 Most Commercially Promising "Virtual Scenarios" enterprises, while NOLO and LLVision were named to the Top 20 Most Commercially Promising "Interactive Devices" enterprises.

Machenike and Asink Named to KPMG China Automotive Technology 50

Recently, KPMG China released its fifth annual China Leading Automotive Technology 50 list. Machenike and Asink were selected for the Automotive Technology 50 report, with the latter also named to the "Emerging Enterprises" list. The list was compiled through multiple rounds of evaluation by KPMG industry partners, investors, and experts, along with company visits, selecting 50 leading enterprises and 50 emerging enterprises with outstanding comprehensive performance, vitality, and potential.

New · BlueRun Ecosystem

BlueRun Ventures Singapore Explorer Day Successfully Held

On September 28, BlueRun Ventures held an Explorer Day for global entrepreneurs in Singapore. This was the second Explorer Day following the Silicon Valley event. Four BlueRun partners and representatives from outstanding portfolio companies attended, exchanging and sharing experiences in global investment, technology going global, and other topics with over 80 founders and experts from local enterprises, government associations, academia, and venture capital institutions.

BlueRun looks forward to using this event as an observation post, enabling more entrepreneurs to "see the world from the world" and discover potential opportunities in broader markets. Going forward, BlueRun will leverage Singapore's vibrant venture capital ecosystem and experience to further connect researchers, entrepreneurs, and investors across Southeast Asia, building a powerful innovation ecosystem with a global perspective.

Further Reading Galloping Through August | Living Up to the Summer, Running with Passion

BlueRun July Report | The Beginning of Lucky Charms

BlueRun June Report | Hope Is a Sweet Waiting

BlueRun Ventures was established in Silicon Valley in 1998. BlueRun Ventures China was founded 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 15 billion RMB, making it one of the largest early-stage funds in the country. It invests primarily at Pre-A and Series A stages, covering hard tech and innovative interaction, enterprise technology, new consumer, healthcare, and other sectors. It has cumulatively invested in over 150 startups, including Li Auto, Waterdrop, QingCloud, Guazi Used Car, Qudian, Songguo Mobility, Ganji.com, Energy Monster, Yuntu Semiconductor, Machenike, YunSheng Intelligence, Anxin Network Shield, and BioMap.

BlueRun Ventures has been ranked #1 on Zero2IPO's "Top 30 Early-Stage Investment Institutions in China" and ChinaVenture's "Top 30 Best Early-Stage Venture Capital Institutions in China," and was named to Preqin's Top 10 Global VC Fund Managers for Sustained High Returns.

Additionally, BlueRun Ventures has repeatedly received honors from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media institutions, including "China's Best Early-Stage Institution of the Year," "China's Top Venture Capital Institution," "Most Entrepreneur-Friendly Early-Stage Institution of the Year," and "Most Influential Early-Stage Institution of the Year."