Muyan Zhiyu
沐言智语
Muyan Zhiyu (沐言智语) is an AI startup founded by Yueguang Zhang, previously known for leading the viral photo app "Miaoya Camera" (妙鸭相机) . The company was established around May 2024 and completed three funding rounds within its first six months, with BlueRun Ventures as the sole investor in its third round; other backers included Hillhouse, Gaorong Capital, and Lisi Capital . BlueRun has consistently positioned Muyan Zhiyu among its portfolio of "star projects" in AI, alongside Moonshot AI and humanoid-robot maker Galbot .
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Coverage
Growth as a Mirror: Strategy Is Only the Surface, Structure Is What Matters | Vital Views
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With BlueRun Ventures, at AdventureX 2025, creating insomnia.
The young people who refuse to be defined — that's you, that's me
BlueRun Ventures Wins 36Kr China Early-Stage Investment Top 3 and Most Influential Firm Awards
Standing by founders from zero to one
The Wind Still Howls Where No One Stands | Monolith Monthly
Every step is worth recording.
A Multimodal Symphony: How Can Technology and Products Advance Together? | BlueRun Ventures x Volcano Engine Event Recap
The Future Evolution of Multimodality
Stop Asking Me What an AI Agent Is | BlueRun Ventures x Volcano Engine Event Recap
Deep Thoughts on AI Agents
What Did BlueRun Ventures and Volcano Engine Cook Up Together? | Event Recap
One of China's largest early-stage funds co-creating with its most advanced AI lab
AI Is Calling — Pick Up | BlueRun Ventures Is Hiring
Be the change you want to see.
"Quasi-National Team" Raises Another 200 Million, Open-Source Ecosystem Just Getting Started
Secured another 200 million yuan follow-on investment from Beijing.
BlueRun Ventures ranked No. 2 on ChinaVenture's 2024 list of Best Early-Stage Investment Firms, and also won awards including Best AI Sector Investor.
Let's Define the Future Together
To AI Founders: In 2025, Go to These VCs for Funding | Debriefing a Year in Primary Markets with Jing Liu of "Waves"
"2024: Who's Still Actively Investing in AI?"
BlueRun Ventures in Conversation with Galaxy Universal, AgiBot, and Lingchu Intelligence: When Embodied Intelligence Enters Reality | The Road to AGI
Between Science and Reality
Ten BlueRun Ventures portfolio companies were named to 36Kr's "WISE2024 Business King of the Year" list.
the Hard But Right Way
BlueRun Ventures in Conversation with Moonshot AI and Muyan Zhiyu: At the Crossing of the AI Industry | The Road to AGI
China's AI Can Be Different
A VC Leads the Way Out of the Quadrant | BlueRun Ventures Perspective
Catching the Next Big Thing in Tech's Sea Change
Beyond the Quadrant: Forging an Undefined Path | BlueRun Ventures 2024 Annual Fund Partners Meeting
Breaking Through a Mental Block
We invested in large language models, AI applications, and embodied intelligence, but BlueRun Ventures still feels it hasn't FOMO'd hard enough.
The more optimistic doers.
Heard That AI Founders Who Come to Boming Camp All End Up Booming | Registration Countdown
Last Chance to Register for the AI-Themed Session

















