Qiming Weekly | Top 10 Updates from Qiming Venture Partners Portfolio Companies Vol.26, Aug. 18, 2026

Editor's Note: In 2026, the Qiming Weekly has been upgraded and refreshed, with regular weekly updates featuring only ten major developments from Qiming Venture Partners' portfolio companies, covering funding progress and breakthroughs.

In the wave of technology and innovation, every step entrepreneurs take deserves to be recorded. Qiming Venture Partners will continue to accelerate and empower entrepreneurs, and join you in tracking the milestone moments of our portfolio companies.

Funding

Mifeng Technology Raises Another Several Hundred Million Yuan

Recently, Mifeng Technology, a one-stop physical AI data service platform, completed a new round of funding worth several hundred million yuan. The proceeds will be used to continue breaking through the industry's "data desert" bottleneck, building embodied AI data platform infrastructure, scaling up mass production of its MEgo body-less product, strengthening full-stack capabilities in data collection, data governance, and closed-loop evaluation, accelerating the delivery of tens of millions of hours of physical interaction data capacity, and reshaping the iteration paradigm for large models of the physical world.

Maoqing Yao, Chairman and CEO of Mifeng Technology, said that the key to embodied AI moving from the lab to the real world lies in whether it can continuously obtain authentic, compliant, and high-quality data. This round of funding brings not only capital support, but also deep synergy in cloud-network infrastructure, industrial scenarios, and ecosystem resources. Mifeng Technology will leverage its established full-chain capabilities in "collection—governance—supply—evaluation" to further enhance large-scale data supply and scenario service capabilities, driving more efficient conversion of high-quality data into model capabilities and industrial value.

Major Partnerships

01/ Galaxy Universal-Led China's Only Embodied AI Large Model Key Laboratory Approved

Recently, the unveiling ceremony of the Beijing Key Laboratory of Embodied Intelligence Large Models and the first meeting of its academic committee were grandly held in Beijing's Haidian District. Attendees included Jihong Zhang, Director of the Beijing Municipal Science and Technology Commission and Zhongguancun Administrative Committee; Chao Tang, Deputy Director of the Zhongguancun Science City Administrative Committee and Vice District Mayor of Haidian District; Academician Wen Gao of the Chinese Academy of Engineering; foreign academicians of the Chinese Academy of Engineering Jianwei Zhang and Wenjun Zeng; foreign member of the National Academy of Engineering Hongjiang Zhang; and Professor Tianmiao Wang, Honorary Director of the Beihang University Robotics Institute — 14 Chinese and foreign academicians and experts in total — as well as representatives from the laboratory's co-building units, Qiming Venture Partners portfolio company Galaxy Universal, Peking University, and CATL.

This laboratory is China's first and only provincial-level key laboratory recognized in the field of "embodied large models." Embodied large models represent the most upstream and highest-barrier core technology direction in the industry. Beijing's decision to entrust Galaxy Universal with leading this strategic high ground signals that the nation has tasked technology leaders represented by Galaxy Universal with seizing the commanding heights of global embodied AI competition and tackling core technological challenges.

02/ Insilico Medicine Enters Research Collaboration with South Korea's THPharma

Recently, Qiming Venture Partners portfolio company Insilico Medicine (03696.HK), a generative AI-driven clinical-stage biotech firm, announced a research collaboration with THPharma, which focuses on metabolic disease drug development. Based on biology AI, the partnership will construct a "reverse parsing" drug R&D strategy: starting from clear efficacy data obtained by candidate drugs in preclinical stages, working backward to derive indications with development potential, mechanisms of action, and biomarker systems, further expanding the application boundaries of existing candidate drug pipelines.

This AI-driven biology exploration will focus on key metabolic diseases including heart failure, fatty liver, and obesity. Rather than adopting a "scattershot" multi-indication simultaneous advancement strategy, both parties plan to comprehensively evaluate AI analysis results, biomarker reproducibility, preclinical validation feasibility, and market prospects to screen and prioritize indications and related targets.

03/ Ant Health and DeepWise Partner to Build Trustworthy Medical Knowledge System

Recently, Ant Health reached a strategic partnership with Qiming Venture Partners portfolio company DeepWise. The two sides will collaborate around trustworthy medical knowledge systems, high-quality medical scientific data, medical knowledge processing capabilities, professional physician service scenarios, and joint product development in the healthcare field, promoting the deployment of evidence-based, traceable, and applicable medical knowledge services in more professional scenarios. Currently, the first-phase collaboration results have been applied in the "Ant Aifu Doctor Edition" App, providing millions of physicians nationwide with instant, precise knowledge retrieval and research assistance.

Leveraging Bohr·Science Navigation's technical foundation in intelligent understanding of scientific literature, DeepWise has already provided Ant Health with high-quality medical scientific data support. Relevant data is structured around key dimensions including diseases, symptoms, examinations, diagnosis and treatment pathways, clinical evidence, and research conclusions, improving the efficiency of medical knowledge acquisition, retrieval, comprehension, and application, and providing a stable, trustworthy, and traceable data foundation for subsequent professional service scenarios.

04/ Yunji Technology and Pateo Reach Strategic Partnership

Recently, Qiming Venture Partners portfolio company Yunji Technology (02670.HK) formally signed a strategic cooperation agreement with Pateo. Based on their respective deep expertise in service robots, embodied AI, and intelligent vehicles, the two parties will build a deep strategic partnership to jointly explore new paradigms of industrial convergence in the physical AI era.

In this collaboration, both parties will fully integrate Yunji Technology's core advantages driven by its dual engines of embodied and disembodied intelligence, along with Pateo's market, engineering, and productization capabilities on the intelligent vehicle industry side. Through deep synergy across five dimensions — technology co-creation, scenario co-building, supply chain co-guarantee, market win-win, and ecosystem co-integration — they will deepen technical coordination and market linkage in embodied AI and intelligent vehicles, expanding the application boundaries and market space for core products.

05/ Noitom Robotics and Riemann Dynamics Sign Strategic Partnership

Recently, Qiming Venture Partners portfolio company Noitom Robotics formally reached a strategic partnership with Riemann Dynamics. The two sides will conduct in-depth cooperation around robot training data, model R&D, and real-world scenario validation, jointly advancing the construction of 1 million hours of embodied AI data and establishing a collaborative closed loop of "data production — model training — real-world deployment — feedback optimization," enabling robot intelligence to evolve from single-point tasks toward more complex and generalizable real-world applications.

Noitom Robotics and Riemann Dynamics will combine their respective technical capabilities in Physical AI data infrastructure and embodied brain models, exploring a robot intelligence development path jointly driven by data and models. Through its data foundation platform ModalityNet (modalitynet.com), Noitom Robotics transforms human motion, interaction, and behavior in the physical world into machine-learnable representations. Its three data systems — the MOV multi-modal large-space interaction dataset, the OM multi-modal dexterous manipulation dataset, and the ITW multi-modal wild-captured subjective vision dataset — together build a full-modality data foundation for embodied AI, making the physical world learnable.

Product Launches

01/ Zhipu AI's ZCode Fully Upgraded

Recently, ZCode, the programming tool under Qiming Venture Partners portfolio company Zhipu AI (02513.HK), received a major upgrade with four new features officially launched: Goal, Subagents, Remote Control, and Idle Tasks. ZCode is a domestic Coding Harness deeply optimized for GLM, and has become the preferred entry point for millions of developers writing code with GLM.

Using GLM within ZCode delivers better task performance. Zhipu AI's internally developed Z.ai Code Bench constructs tasks around real user demand scenarios, based on fine-grained categories including Full Stack, Bug Fix, and Feature Implementation, simulating complex local programming environments. It comprehensively evaluates models' complex long-horizon programming capabilities through dimensions including regression testing, new feature testing, front-end simulated interaction, and code quality assessment, avoiding potential data contamination from public leaderboards and striving to还原用户真实体感.

ZCode has been specifically optimized for context cache reuse. According to Zhipu AI's tests on multiple Coding Agents, GLM achieves over 98% cache hit rate in ZCode, allowing more repeated contexts to hit cache and be deducted at lower point coefficients, thereby increasing GLM Coding Plan's effective token volume by approximately 30%.

02/ Unisound U2-RadiMed Officially Released

Recently, Qiming Venture Partners portfolio company Unisound (09678.HK) officially released its self-developed medical imaging multi-modal large model U2-RadiMed. As China's first full-chain imaging large model deeply integrating medical image understanding, report generation, clinical reasoning and decision-making, and visual question answering, the model supports multi-modal mixed input of single or multiple images and text, completing the full workflow闭环 of "view images → access knowledge → conduct reasoning → reach conclusions," providing clinicians with comprehensive AI-assisted support from lesion screening, precise diagnosis to individualized treatment decisions, helping imaging diagnosis advance toward higher-level intelligence.

U2-RadiMed comprehensively covers mainstream medical imaging types including CXR chest X-ray, CT, and MRI, establishing six core capability frameworks: report generation, lesion detection and localization, clinical reasoning, clinical decision-making, general medical VQA, and advanced medical reasoning, making it an "AI expert in radiology" with professional diagnostic thinking.

Technology Prowess

WeRide Crowned "Seven-Time Champion" of China Intelligent Driving Competition

** Recently, the Guiyang final of the China Intelligent Driving Competition concluded successfully. The "GAC Aion N60," equipped with Qiming Venture Partners portfolio company WeRide** (NASDAQ: WRD, 00800.HK) WRD3.0 one-stage end-to-end assisted driving solution, won the "dual championship of preliminary and final rounds" with its efficient and stable comprehensive performance. Following a disappointing loss at the Kunming station, WeRide returned to the top in Guiyang, declaring a strong comeback with the most valuable victory. To date, WeRide has accumulated seven station championships in the China Intelligent Driving Competition, crowned as the event's "seven-time champion" — far surpassing the previous records of Xpeng Motors' five titles and Huawei and Momenta's three titles each — redefining the strength standard of China's first-tier intelligent driving with a dominant lead.**

WeRide's WRD3.0 one-stage end-to-end assisted driving solution integrates perception, prediction, and planning decision-making into a unified AI large model, continuously trained on massive real human driving data and simulation data generated by the GENESIS world model, learning highly human-like driving strategies to make driving decisions more aligned with human intuition in complex traffic environments, effectively enhancing driving confidence and significantly reducing unnecessary takeovers.

R&D Progress

Shize Biotech Completes Enrollment for All Participants in Phase I Registrational Clinical Trial of Universal Cell Therapy for Parkinsonian Multiple System Atrophy

Recently, Qiming Venture Partners portfolio company Shize Biotech announced that its self-developed allogeneic universal "off-the-shelf" iPSC-derived dopaminergic neural progenitor cell injection (XS411) for the treatment of parkinsonian multiple system atrophy (MSA-P) has completed dosing for all participants in its Phase I registrational clinical trial. This study employed neurosurgical minimally invasive precision transplantation technology for cell delivery, with no surgical or perioperative complications or other adverse events occurring, all test indicators normal, and all participants safely passing the observation period and formally entering the follow-up phase.

This registrational clinical trial is led by the National Center for Neurological Disorders — Beijing Tiantan Hospital, Capital Medical University, with authoritative Parkinson's disease expert Professor Feng Tao serving as principal investigator. This represents another important R&D milestone for this cell product, following its approval in February this year by China's National Medical Products Administration (NMPA) and the U.S. FDA to commence registrational Phase I/II clinical trials without any deficiencies. The trial aims to evaluate the safety, tolerability, and potential efficacy of Shize Biotech's universal XS411 cell injection in MSA-P participants, providing critical evidence for subsequent confirmatory clinical trials.

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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.

To date, Qiming Venture Partners has invested in over 580 high-growth innovative enterprises, of which more than 210 have listed on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through M&A and other means. Over 80 portfolio companies have become recognized unicorns or super-unicorns.

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, 0800.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.