The Power of Waiting to Grow in the Snow | BlueRun Ventures Bi-Monthly Report

Over the past two months, Beijing saw its first snowfall of 2024. People tend to think that harsh winters are inhospitable to growth, but winter snow is in fact critical for wheat. The cold temperatures and low evaporation rates mean that accumulated snow acts like an insulating layer, reducing moisture loss from the soil. When temperatures rise the following March, the snow melts to irrigate the earth, and its nutrients nourish the wheat. Here's to the power of waiting to grow beneath the snow, and to the exhilaration when the skies finally clear. As Wang Xizhi once wrote: "After the fast snowfall, the sky clears — fine thoughts bring peace."

Led by BlueRun Ventures

Lingchu Intelligence Closes Seed Round

This round was co-led by BlueRun Ventures and Hillhouse. Proceeds will go toward advancing Lingchu's reinforcement learning-based robot skill training, scenario-specific data generation and collection, and end-to-end solution R&D and deployment — building toward a leading general-purpose dexterous manipulation agent.

Led by BlueRun Ventures

AllinkBio Raises $42 Million in Series A

AllinkBio is dedicated to developing next-generation bispecific antibody and ADC therapies to deliver better treatment options for cancer and immunological disease patients. This funding will accelerate AllinkBio's global expansion, including advancing its lead programs ALK201 and ALK202 through Phase I clinical trials in Australia, the United States, and China, while broadening its oncology and immunology pipeline and continuously optimizing its proprietary bispecific antibody and ADC technology platforms to build a globally impactful biotech company.

Galaxy Universal

Completes 500 Million Yuan Strategic Round

Galaxy Universal has now raised over 1.2 billion yuan in just over a year since its founding, marking the largest funding round in the embodied AI model space. Its first embodied AI model robot, Galbot, has achieved a first-of-its-kind international breakthrough: over 95% success rate in grasping randomly piled, never-before-seen transparent and highly reflective objects, and has further generalized to operations like opening cabinets, pulling drawers, and hanging clothes. BlueRun Ventures led Galaxy Universal's seed round and has added to its position in multiple subsequent rounds.

TCab Tech

Closes Hundreds of Millions of Yuan in Series B

This round marks a new milestone for TCab Tech in the low-altitude economy. As part of its development plans, TCab Tech will establish a final assembly and manufacturing facility in Wanzi District, Wuhu City, Anhui Province. The Wuhu city and Wanzi district governments will provide comprehensive support including land use, funding, and application scenarios to advance industrialization of the E20 eVTOL program. BlueRun Ventures invested in TCab Tech's seed round and has added to its position in subsequent rounds.

UniUni

Closes $30 Million in Series C2

Proceeds will primarily accelerate UniUni's U.S. expansion, including adding warehouses, deploying cost-cutting and accuracy-enhancing robotic sorting centers, and continuously upgrading software technology such as AI-integrated customer service and delivery routing. BlueRun Ventures led UniUni's Series A and has added to its position across multiple subsequent rounds.

Zhuling Technology

Raises Additional Multi-Million Dollar Pre-A Round

Funds will be used for team expansion, product line enrichment, and building out manufacturing and sales channel systems. By focusing on core components and using a model combining in-house R&D with outsourced manufacturing, Zhuling has achieved high product maturity with lower peripheral hardware costs, creating a sustainable, systematic industrial ecosystem. BlueRun Ventures was Zhuling Technology's exclusive seed round investor.

AgiBot

Lingxi X1 Officially Open-Sourced Globally

This open-source release provides tech enthusiasts with a powerful toolkit for developing and optimizing personalized motion control strategies using advanced algorithms such as reinforcement learning. For tech startups and ecosystem partners, it enables building humanoid robot products based on AgiBot's core components, with open-source code allowing rapid completion of full-machine engineering — lowering R&D costs and barriers to entry.

Moonshot AI

Partners with Tsinghua University and Others

Open-Source Collaboration on Large Model Inference Architecture Mooncake

To further accelerate adoption of this technical framework, Moonshot AI and Tsinghua University's MADSys Lab, together with 9#AISoft, Alibaba Cloud, Huawei Storage, ModelBest, and QujIng Technology, jointly released the open-source project Mooncake to build a KVCache-centric large model inference architecture. On November 28, the Mooncake technical framework was officially released (https://github.com/kvcache-ai/Mooncake).

Zhitai Bio

Innovative Oral GLP-1 Peptide Approved for Clinical Trials

Beijing Zhitai Biomedical Technology's self-developed oral GLP-1 peptide ZT006 (for weight management and Type 2 diabetes indications) received clinical trial approval from the CDE (Center for Drug Evaluation, NMPA) and will soon commence Phase I first-in-human trials. Zhitai Bio developed ZT006 using internationally leading site-specific fatty acid chain modification technology (QLLong) and macromolecule oral delivery technology (QLOral). Non-clinical studies show that ZT006 demonstrates excellent bioavailability and efficacy via oral administration, with good tolerability and safety.

Luchen Tech

Releases Video Ocean

Luchen Video Ocean's newly upgraded model officially launches, bringing three breakthrough capabilities: text-to-video, image-to-video, and character-to-video, fully unlocking unlimited possibilities for creative video production. Whether it's retro black-and-white films, surreal fantasy scenes, or personalized character customization, it all comes to life with ease — turning creativity into reality.

PowerLaw AI

Officially Launches Wuyou Wulü AI Legal Services Platform

Wuyou Wulü is an enterprise AI legal services platform built by PowerLaw AI on its self-developed 100-billion-parameter legal foundation model, providing intelligent Q&A, contract review, document drafting, and other AI-powered legal services. Its core value lies in a self-service, high-efficiency model: users simply submit legal needs online, and the platform responds quickly with professional solutions.

BioMap

Releases xTrimo V3 Life Science Foundation Model

Building on V2's breakthrough to over 100 billion parameters in understanding protein language, xTrimo V3 further expands to 210 billion parameters, covering seven major life science modalities including protein, DNA, and RNA. It can model a broader range of genomics, cellular, and systems-level questions, bringing new capabilities to gene editing, target discovery, cell regulation, strain modification, and life science image analysis.

Moyun Security

Releases AI Tiancha Large Model

This large model can intelligently generate PoCs for vulnerability verification, helping users quickly resolve backlogs of vulnerability verification issues and lack of verification components, significantly improving vulnerability verification code development efficiency while reducing manual costs.

YunChu New Energy

Pioneers Online Real-Time Lean Battery Detection Technology

Millisecond-Level Online OCV Detection Error Under 1%

This technology enables real-time battery parameter identification and state estimation during charge and discharge cycles. Taking OCV detection as an example, YunChu's online real-time lean detection technology achieves high-precision results with under 1% error — far exceeding national standard requirements and reaching world-leading levels.

Energy Singularity

Jingtian Magnet's First Double-Pancake Winding Passes Testing

Testing confirmed that the winding and current leads' current-carrying capacity and other key parameters met design values. The double-pancake winding achieved 755 kiloampere-turns, with an engineering current density of 204 megaamperes per square meter. Total double-pancake winding resistance was below 12 nano-ohms, inter-pancake joint resistance below 5 nano-ohms, and all auxiliary systems operated normally. This test validated the reliability of Jingtian Magnet's design and manufacturing processes, confirming Energy Singularity's capabilities in designing and manufacturing large-aperture high-field high-temperature superconducting magnets.

Machenike

Signs Joint Cooperation MOU with Saudi Aramco

Machenike unveiled its next-generation hydrogen-powered heavy truck at the Tecshift summit, where it also signed a strategic cooperation MOU with Saudi Aramco. Prosperity7 Ventures (P7), under Aramco Ventures, has invested in Machenike across four consecutive rounds, and Machenike is P7's only autonomous driving investment in China.

TCab Tech

Reaches Strategic Partnership with Autocraft

The two parties will jointly explore and develop diversified commercial applications for the E20 eVTOL in the UAE, including low-altitude tourism and aerial mobility. This partnership also marks TCab Tech's official entry into overseas markets. Going forward, TCab Tech will continue expanding into Belt and Road markets, fulfilling its mission of "providing society with safe and convenient aerial mobility services."

Anxin NetShield

Selected for Abu Dhabi Investment Office Innovation Program

Receives Tens of Millions in Government Funding

The Abu Dhabi Investment Office (ADIO) and Abu Dhabi Government Media Office (ADMO) jointly announced Anxin NetShield's selection for the innovation program. Launched in 2020 with $545 million in committed capital, the program has selected only 60+ companies globally. As the first Chinese company selected, Anxin NetShield received tens of millions in incentive funding for talent recruitment, brand building, and accelerating global business development.

YunSheng Intelligent

Wins Golden Wing Award at 7th Global Unmanned Systems Conference

Outstanding Contribution Award for Low-Altitude Economy

The Golden Wing Award is an annual brand event for the unmanned systems industry, jointly created by the Global Unmanned Systems Conference organizing committee alongside industry organizations and media. This year's conference gathered top experts, scholars, entrepreneurs, and industry elites from the global low-altitude economy and unmanned systems sectors. Going forward, YunSheng Intelligent will continue dedicated to research and application of fully autonomous drone inspection systems, supporting rapid, high-quality development of the low-altitude economy.

Shengke Energy

Appears at UN Climate Change Conference

Shares China's New Energy AI Solution with the World

As a global leader in new energy AI, Shengke Energy was invited to participate in this year's UN Climate Change Conference, joining experts, scholars, and business representatives from around the world to discuss the transformation and application of new energy AI technology, sharing Shengke Energy's innovations and practical experience. CEO Zheng Yu Chu presented the "China Solution" for new energy AI applications, and jointly issued the "Initiative on the Integrated Development of Artificial Intelligence and New Energy" with multiple parties, promoting deep integration of new energy and AI to accelerate global green transformation.

Two BlueRun Ventures Portfolio Companies

Named to The Information's

"50 Most Promising Startups Worldwide"

Silicon Valley's authoritative tech publication The Information released its 2024 "50 Most Promising Startups Worldwide" list (The Information's 50 Most Promising Startups, or TI50). Two BlueRun Ventures portfolio companies — Galaxy Universal and VITURE — made the list. Galaxy Universal ranked #1 on the Top Asia Startups list, while VITURE was the only AR company to make the global list.

Ten BlueRun Ventures Portfolio Companies Selected for

"WISE2024 Business Kings" Annual Enterprise List

Most Commercially Valuable Enterprises

AI sector | BioMap, Moonshot AI

Advanced manufacturing sector | AgiBot

Smart mobility sector | Li Auto

Low-altitude economy sector | Zero Gravity Aircraft Industry, TCab Tech, YunSheng Intelligent

Most Commercially Promising Enterprises

Luchen Tech, ReviR Therapeutics, Wanxun Technology

BlueRun Ventures Hosts

2024 Annual LP Meeting

On November 15, BlueRun Ventures held its 2024 Annual LP Meeting in Shanghai. With the theme "Beyond the Quadrant," the event brought together over 100 LPs, BlueRun portfolio company founders, and partners for in-depth discussions on frontier technology topics including AI, embodied intelligence, advanced computing, and biomedicine — collectively breaking through mental blocks to explore uncharted territory. (Details)

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