Qiming Venture Partners Weekly · Top 10 Portfolio News, Vol. 05, 2026.2.11
Staying with you through the milestone moments of Qiming Venture Partners' portfolio companies
Editor's Note: In 2026, the Qiming Weekly gets a refresh — updated regularly every week, featuring only ten handpicked highlights from Qiming Venture Partners' portfolio companies, covering funding milestones and major breakthroughs.
Every step entrepreneurs take in the tide of technology and innovation deserves to be recorded. Qiming Venture Partners will continue to accelerate and empower founders, and we invite you to follow along as we track these milestone moments together.
Funding News
01/
Cloud Device Technology Completes Series B Round
Recently, Qiming Venture Partners portfolio company Cloud Device Technology announced the completion of its Series B financing. Over its four years since founding, the company has leveraged its self-developed core technologies and strong market performance to complete multiple funding rounds, raising over $100 million in total — injecting substantial momentum for its deepening presence in the Asia-Pacific market and accelerated iteration of its AI data infrastructure.
Cloud Device Technology focuses on providing fully self-developed, next-generation AI+Data infrastructure for the Chinese market and Chinese companies expanding overseas. As enterprises accelerate the integration of AI and business intelligence (BI), the company's next-generation data platform — with its cloud-neutral, hostable positioning, high adaptability, and strong scalability — has become the core foundation for digital transformation among Asia-Pacific enterprises, providing solid technical support for clients across internet, automotive, logistics, education, and other sectors.
Cloud Device Technology CEO Sicheng Yu said: "As large model technology matures, AI is shifting from consumer applications to enterprise deployment. We expect AI agents to see massive investment and real-world production deployment in the B2B sector over the coming years. Cloud Device Technology's AI Lakehouse helps enterprises deeply integrate multimodal data with AI, making it the preferred data platform for deploying AI agents — a solid pillar for successful AI transformation. Our AI Lakehouse is compatible with mainstream cloud platforms domestically and internationally, and we are also one of the major contributors to the Apache Iceberg international data standard. This round of funding will continue to be invested in R&D, helping clients fully control their own data, unlock the value of data assets, deploy AI services, and drive business growth."
02/
Shengshu Technology Raises Over RMB 600 Million in Series A+ Round
Recently, Qiming Venture Partners portfolio company Shengshu Technology announced the completion of a Series A+ round exceeding RMB 600 million. Qiming Venture Partners continued to invest. Shengshu Technology is among the earliest teams globally to research multimodal generation algorithms, proposing the U-ViT architecture in September 2022 (three months before OpenAI's DiT), formally establishing the company in March 2023, and in April 2024 releasing Vidu at the Zhongguancun Forum — China's first text-to-video large model fully benchmarked against Sora. Vidu launched globally in July 2024, and beyond text-to-video and image-to-video capabilities, it pioneered "reference-to-video" technology worldwide, becoming the first to solve the multi-subject continuity consistency challenge in commercial-grade video production. Subsequent releases of Vidu Q1, Q2, and Q3 have maintained global leadership across core metrics including multi-subject consistency, semantic understanding, dynamism, stability, expressiveness, and generation speed.
Shengshu Technology CEO Yihang Luo said: "Starting from algorithms, Shengshu Technology has persisted in model technology innovation and breakthroughs. Among the internationally leading cohort of multimodal large models, Vidu has built distinctive features and differentiated advantages. From technology to business, we firmly believe that multimodal large models will leapfrog to become a new production paradigm and core productive force, reconstructing global content production workflows, ecosystem relationships, and industrial landscapes, while reshaping content consumption and interaction experiences. Shengshu Technology will remain rooted in technology, grounded in AI productivity value and user experience, and through product and commercial deployment, unlock the value of multimodal large models in the global content industry."
Shengshu Technology founder Jun Zhu said: "The ceiling for multimodal video models is limitless. Beyond digital content creation and interaction, they can build world models that understand the laws of the physical world, end-to-end supporting machine decision-making. Building on Vidu's solid landing in digital content creation, Shengshu Technology will continue exploring and pushing the boundaries of AI's value in the physical world, achieving seamless human-machine collaboration."
03/
DaXiao Robotics Completes Angel Round
Recently, DaXiao Robotics completed its angel round, with Qiming Venture Partners participating as a co-investor. The funds raised will be used to advance the company's "human-centered" ACE embodied full-stack R&D paradigm, accelerate environmental data collection and development of the Kairos World Model 3.0, drive scaled deployment of its embodied super-brain module, and actively expand into additional commercial scenarios including energy, transportation, and cultural tourism.
Wang Xiaogang, co-founder and executive director of SenseTime and chairman of DaXiao Robotics, said: "We thank multiple investors for their recognition of DaXiao Robotics. Embodied AI is a track with unlimited potential and rapid growth. DaXiao Robotics is committed to continuous technology innovation and deep understanding of embodied AI scenarios, working with industry chain partners to build an open and collaborative industrial ecosystem, translating cutting-edge embodied AI technology into new quality productive forces that drive industry progress — giving every robot a 'smart brain.'"
DaXiao Robotics boasts top-tier core talent combining frontier technology with industrial practice. Among the global top five Chinese computer scientists (Research.com), the company claims two — Professor Wang Xiaogang and Professor Dacheng Tao. The team also includes a cohort of scarce AI frontier scientists from Nanyang Technological University, The University of Hong Kong, and The Chinese University of Hong Kong, including Jianqin Lyu, Hongsheng Li, and Ziwei Liu, with deep expertise in ambient intelligence, world models, and embodied AI. Their sustained innovation capabilities will help DaXiao Robotics seize technological high ground.
Major Partnerships
01/ Hesai Technology and Grab Enter Strategic Partnership
Recently, Qiming Venture Partners portfolio company and global lidar leader Hesai Technology (NASDAQ: HSAI; 02525.HK) announced a strategic partnership with Southeast Asian tech giant Grab. Grab will become Hesai Technology's exclusive distributor of lidar products in Southeast Asia, fully responsible for product sales, customer support, and marketing in the region.
Through this strategic partnership, Hesai Technology will leverage Grab's extensive resources and mature sales network to significantly enhance the market supply of high-quality, high-reliability lidar sensors, enabling Southeast Asian customers to access lidar products more conveniently and efficiently to meet diverse industry application needs including robotics solutions and autonomous driving systems. Meanwhile, as Hesai Technology's exclusive distributor in Southeast Asia, Grab will also secure stable and reliable technology supply for its autonomous mobility and high-definition mapping businesses.
David Li, co-founder and CEO of Hesai Technology, said: "Lidar is core technology for enabling robotic autonomous perception and safe operation. The Southeast Asian market currently shows strong demand across manufacturing, logistics, and service robotics. Through our partnership with Grab, we will connect mature and reliable lidar technology with local market needs, accelerating lidar deployment and large-scale application in robotics."
02/
Sanegene Bio Enters RNAi Drug Development Partnership with Genentech
Recently, Qiming Venture Partners portfolio company Sanegene Bio, a clinical-stage biotechnology company focused on developing innovative RNA interference (RNAi) therapeutics, announced a global research collaboration and licensing agreement with Genentech (a subsidiary of Roche Group). The two parties will jointly advance the development of an RNAi therapy based on Sanegene Bio's proprietary RNAi drug development platform. Under the agreement, Sanegene Bio will grant Genentech exclusive global rights to develop and commercialize the drug. Sanegene Bio will be responsible for early-stage R&D, while Genentech will handle all subsequent clinical development and commercialization activities.
Sanegene Bio's proprietary RNAi drug development platform encompasses novel drug chemical modifications and delivery technologies, which can be used to develop potentially breakthrough siRNA drugs for multiple disease areas. Under the agreement terms, Sanegene Bio will receive a $200 million upfront payment, and is eligible to receive development and sales milestone payments totaling $1.5 billion, as well as tiered royalties. Dr. Weimin Wang, founder and CEO of Sanegene Bio, said: "Partnering with Genentech marks another important milestone for our innovative and differentiated RNAi drug chemistry and delivery platform. We are delighted to work with this global leader in science, and remain committed to providing efficient and potentially life-changing treatment options for patients worldwide."
03/
Insilico Medicine Receives HK$39 Million Milestone Payment from Menarini
Recently, Qiming Venture Partners portfolio company Insilico Medicine (03696.HK), a generative AI-driven clinical-stage biotech company, announced that its MEN2501 program — out-licensed to Menarini Group ("Menarini") in January 2025 — has completed first-patient dosing in Phase I clinical trials. Per the cooperation agreement, Insilico Medicine has received a HK$39 million milestone payment from Menarini. MEN2501 (ISM9682) is a highly differentiated small-molecule inhibitor targeting the kinesin KIF18A, with preclinical data showing significant inhibitory activity against chromosomally unstable cancers.
Previously, as a strategic collaboration aimed at accelerating the development of transformative anti-tumor therapies, Insilico Medicine out-licensed the MEN2501 program to Stemline Therapeutics, a wholly-owned subsidiary of Menarini Group, for a total deal value of $550 million. Under the cooperation agreement, both parties actively advanced program transition and subsequent development work. In July 2025, following successful IND approval for the program, Insilico Medicine received its first development and regulatory milestone payment exceeding HK$23.4 million.
Dr. Alex Zhavoronkov, founder and CEO of Insilico Medicine, said: "The rapid advancement of the MEN2501 program to Phase I clinical trials, and the successful completion of first-patient dosing, fully demonstrates Menarini and Stemline's efficient program execution capabilities and professional clinical translation expertise. This milestone also powerfully validates our shared commitment and continued efforts to provide innovative therapies for cancer treatment. We are proud to further strengthen our partnership, and witnessing an AI-discovered drug candidate reach this critical stage of clinical trials is deeply encouraging — bringing us one step closer to our goal of delivering innovative treatment options to patients globally."
04/
WeRide and Uber Set Regional Record with Expanded Partnership
Recently, Qiming Venture Partners portfolio company and global leading autonomous driving technology company WeRide (NASDAQ: WRD, 00800.HK) and international mobility giant Uber announced an upgraded strategic partnership: the two plan to deploy at least 1,200 Robotaxis in the Middle East by 2027, covering the three major markets of Abu Dhabi, Dubai, and Riyadh.
Under the plan, all 1,200 Robotaxis will be integrated into the Uber App to provide ride-hailing services to the public. Currently, WeRide and Uber have already launched fully unmanned commercial Robotaxi operations in Abu Dhabi, and opened public Robotaxi services in Dubai and Riyadh. Building on this existing operational foundation, both parties will continue expanding the Robotaxi fleet scale. Uber has committed to deploying additional Robotaxis upon achieving key regulatory approvals and operational milestones including fully unmanned Robotaxi commercial deployment in core urban areas of each city. WeRide founder and CEO Tony Han said: "The expanded partnership between WeRide and Uber represents the largest Robotaxi commercial deployment plan in the Middle East and North Africa (MENA) region to date. Building on the results of our existing fleet operations, the open and proactive regulatory environment, and partners like Uber who share our vision for safe and convenient mobility, we will accelerate our expansion and steadily advance toward our goal of deploying tens of thousands of Robotaxis globally over the next five years."
R&D Progress
01/
Belief BioMed Completes First Patient Dosing in Parkinson's Disease Gene Therapy Registration Clinical Study
Recently, Qiming Venture Partners portfolio company Belief BioMed, an innovative enterprise focused on frontier gene therapy, announced that its self-developed and self-produced BBM-P002 injection has completed first patient dosing in its registration clinical Phase I study (CTR20253518), supported by Director Jun Liu of Ruijin Hospital Affiliated with Shanghai Jiao Tong University School of Medicine. The patient was discharged smoothly and has completed the 4-week follow-up.
This clinical trial is an open-label, single-dose study designed to evaluate the safety and efficacy of stereotactic bilateral putaminal injection of BBM-P002 injection in subjects with idiopathic Parkinson's disease. BBM-P002 utilizes Belief BioMed's self-developed engineered capsid with higher nervous system delivery efficiency, delivering an optimized gene expression cassette to the bilateral putamen of the brain via stereotactic injection technology. One month after the first patient dosing in the registration study, motor function improvement was assessed using Part III of the internationally recognized Unified Parkinson's Disease Rating Scale (UPDRS-III) promulgated by the MDS Association. Data showed that UPDRS-III scores had already improved at one month post-dosing, with off-state scores decreasing 34% from baseline. PET imaging at one month post-dosing showed significant increases in dopamine synthesis in target brain regions. No drug-related adverse events occurred, and the patient did not use any immunosuppressants after dosing.
Dr. Xiao Xiao, co-founder, chairman, and chief scientific officer of Belief BioMed, said: "The successful first patient dosing marks another milestone for Belief BioMed in tackling chronic diseases through gene therapy. This drug uses AAV vectors to precisely deliver key genes required for dopamine synthesis to the putamen of the brain, aiming to achieve stable, long-term expression, potentially bringing a 'one intervention, long-term benefit' new possibility to Parkinson's disease treatment. We sincerely thank the patient and their family, clinical collaborators, regulatory authorities, and the entire project team for their trust, collaboration, and dedication in making this important step possible. Belief BioMed will continue to go all out, striving to bring transformative treatment options to Parkinson's disease as soon as possible."
Technology Strength
01/
UBTECH's Autonomous Logistics Vehicle Chitu α Rolls Off Production Line at Foxconn Zhengzhou Plant
Recently, the autonomous logistics vehicle Chitu α from UQI Youqi, the smart logistics subsidiary of Qiming Venture Partners portfolio company UBTECH, completed the official rollout of its first batch of PVT (Production Validation Test) vehicles at Foxconn's new energy vehicle R&D center in Zhengzhou.
The PVT phase is a critical validation link for mass production delivery capability, used to verify manufacturing consistency, process stability, and quality traceability under mass production conditions. Under Foxconn's vehicle-grade intelligent manufacturing system, this production covered the complete closed loop of vehicle assembly, inspection, and rollout delivery, laying a solid foundation for the next phase of Chitu α's production ramp-up and batch delivery.
During Chitu α's manufacturing process, UQI Youqi introduced embodied intelligence into its operations system, building an "autonomous manufacturing closed loop" oriented toward vehicle-grade production lines. Under the cluster scheduling of the robot operating system UPilot, UBTECH's industrial humanoid robot Walker S2 and Wali U1500 lifting mobile robot collaborate to achieve unmanned SPS parts supply for Chitu α: Wali U1500 autonomously executes material transfer from the warehouse area to the interior trim line, and upon receiving task instructions, Walker S2 autonomously recognizes and makes decisions based on on-site conditions, transporting parts boxes to assembly stations — transforming parts flow from manual handling to a more stable, flexible unmanned logistics chain, creating a new multi-agent collaborative intelligent manufacturing system.
With the official rollout of PVT vehicles, Chitu α is about to enter production ramp-up and batch delivery. UQI Youqi, UBTECH's smart logistics subsidiary, will also continue advancing scenario-based validation and operational data accumulation, accelerating the scaled supply of autonomous logistics capacity for urban open roads.
02/
DeepWay Heavy-Duty Trucks Fully Enter Thai Market
Recently, Qiming Venture Partners portfolio company DeepWay held a launch event in Bangkok, Thailand's capital, officially announcing the full market entry of its pure electric heavy-duty trucks in Thailand. DeepWay co-founder and chief engineer Changyu Tan, CATL Asia-Pacific service director Jacky Chen, and the Thai distributor's leadership attended the event. At the launch, DeepWay's heavy-duty trucks tailored for the Thai market made their regional debut, with Chief Engineer Tan signing a cooperation agreement with Thai partners — following the November 2025 Malaysia launch, this marks another milestone for DeepWay in the Asia-Pacific market, signifying further refinement of its Southeast Asia strategic layout and injecting strong momentum into Thailand's green transportation transition.
With the vigorous development of regional trade in Southeast Asia, Thailand, as a regional logistics hub, has increasingly urgent demand for efficient, low-carbon freight equipment, with broad prospects for pure electric heavy-duty trucks replacing traditional fuel-powered ones. The DeepWay heavy-duty trucks unveiled at this launch embody the company's deep understanding of and technical adaptation to the Southeast Asian market. The vehicles have been comprehensively optimized for Thailand's road conditions, climate environment, and driving habits, maintaining their core advantages of intelligence and efficiency while placing greater emphasis on improving the localized experience. The L2-level intelligent assisted driving system provides safer protection for long-haul transportation, while designs tailored to local operational scenarios allow the vehicles to deliver optimal performance across intercity transport, logistics distribution, and multiple other domains.
PAST ISSUES
Qiming Weekly · Portfolio News Top 10, Vol. 04, 2026.2.3
Founded in 2006, Qiming Venture Partners currently manages 11 USD funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since its inception, the firm has focused on investing in outstanding early and growth-stage companies in Technology and Healthcare innovation.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative companies, of which more than 210 have listed on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through M&A and other means. Over 80 companies have become recognized unicorns or super-unicorns in their industries.
Many Qiming Venture Partners portfolio companies have grown into the most influential companies in their respective fields, including Xiaomi (01810.HK), Meituan (03690.HK), Bilibili (NASDAQ: BILI, 09626.HK), Zhihu (NYSE: ZH, 02390.HK), Roborock (688169.SH), Hesai Technology (NASDAQ: HSAI, 02525.HK), UBTECH (09880.HK), WeRide (NASDAQ: WRD, 00800.HK), HyperStrong (688411.SH), Insta360 (688775.SH), Unisound (09678.HK), Biren Technology (06082.HK), Zhipu AI (02513.HK), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ, 03347.HK), Zai Lab (NASDAQ: ZLAB, 09688.HK), CanSino Biologics (688185.SH, 06185.HK), Schrödinger (NASDAQ: SDGR), MicroPort EP MedTech (688617.SH), Sanyou Medical (688085.SH), Amoy Diagnostics (300685.SZ), SinoCellTech (688520.SH), Insilico Medicine (03696.HK), Hope Medicine, Yuanxin Technology, MediLink Therapeutics, LaNova Medicines, StepFun, and others.