Dunhong Capital
敦鸿资产
Dunhong Capital (敦鸿资产) is a Chinese venture capital firm active in hard-tech and embodied-intelligence deals, appearing repeatedly as a co-investor alongside top-tier funds in 2024–2025. It led the Pre-A round for photonic computing startup Guangbenwei (光本位科技) in June 2025, with follow-on participation from state-backed vehicles including Pudong Sci-Tech Angel Fund and Zhangjiang Sci-Tech Investment . The firm also joined the $100 million Series A for D-Robotics (地瓜机器人), a Horizon Robotics spinout building an embodied-AI ecosystem, alongside 5Y Capital, Linear Capital, Hillhouse Venture and others in mid-2025 , and participated in multiple rounds for Zhìpíngfāng (智平方), an end-to-end VLA robotics company, from its Pre-A+ in early 2025 through later follow-ons . Its pattern of investing alongside disciplined hard-tech specialists and state capital suggests a focus on deep-tech infrastructure and robotics.
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Coverage
From Two Rounds in Six Months to a $400M Series D: 10 Companies Announce New Funding | FreeS Family Funding News Vol.24
Looking forward to working alongside more outstanding founders.
Yunqi Capital | "Intelligent Square" Closes New Nine-Figure RMB Funding Round, Doubling Down on Model Iteration and Production Line Expansion
Embodied Intelligence, Continuously Evolving
The Answer Isn't on the Old Map | 5Y News Monthly
The big news from last month.
5Y News | D-Robotics Closes $100 Million Series A to Accelerate Embodied AI Ecosystem Buildout
Accelerating the intelligent evolution of robots.
Deebot Robotics Closes $100 Million Series A, Monolith Co-Leads
The "Common Choice" of Robot Developers Worldwide
"D-Robotics Closes $100 Million Series A to Accelerate Embodied Intelligence Ecosystem Build-Out | Linear Portfolio"
From Horizon Robotics' earliest backer to Digua's earliest backer.
Yunqi Capital Quarterly | Spring Winds Ask Nothing of the Traveler; We Chart Our Own Course
A Closer Look at Yunqi Capital's Recent Moves
Yunqi Capital Joins "Intelligent Square" in Hundreds-of-Millions-Yuan Pre-A+ Round to Advance End-to-End VLA Embodied Robot Commercialization | Yunqi Capital
Today, embodied intelligence startup **"Zhi Square" (智平方)** announced the completion of a Pre-A+ round worth hundreds of millions of RMB, with **Yunqi Capital participating in the investment.** This round of funding will primarily accelerate the continued iteration of its end-to-end VLA model and the scaled commercial deployment of embodied intelligence robots.
