About the Gaorong Bulletin

From breakthroughs in frontier technology to reliable products and quality services, and on to the continued expansion of ecosystem networks, innovators are racing ahead to achieve global technology leadership and strong business growth. The September Gaorong Bulletin continues to round up the milestones and new breakthroughs of these trailblazers.

Sep

Fundraising

#01

WeView closes multiple consecutive rounds totaling over RMB 400 million Focused on new-type energy storage battery manufacturing

On September 21, WeView, a high-tech enterprise focused on grid-level new-type energy storage battery technology R&D and intelligent manufacturing, announced that it had completed multiple rounds of financing within six months, with total funds raised exceeding RMB 400 million. Investors include Gaorong Ventures, Pine VC, Qunqing Juneng, Dashu Changqing, and ZhenFund.

WeView possesses globally leading zinc-iron flow battery technology, together with complete supply chain capabilities and mass production capacity. The batteries it manufactures not only fully meet the technical requirements for energy storage batteries in new-type power systems, but also demonstrate outstanding advantages across all performance metrics: extreme safety, low cost per kilowatt-hour, long duration, large capacity, high cycle life, environmental friendliness, and flexible siting.

The proceeds will be used for continued technological innovation in zinc-iron flow batteries, as well as the construction and production of multiple gigawatt-capacity "Super-G factories," aiming to substantially reduce the cost per kilowatt-hour of flow batteries and increase energy storage battery production capacity. Through technology and products, WeView will empower energy storage system integrators, new energy power plants, power grids, energy storage stations, and commercial and industrial users including EV charging station operators, contributing to the early realization of China's dual-carbon goals. Read more

#02

GalaxySpace closes new funding round Accelerating China's satellite internet construction

Recently, Chinese commercial aerospace company GalaxySpace announced the completion of its latest funding round, with a post-money valuation of approximately RMB 11 billion. This round was led by CCB International, with follow-on investment from Anhui Province's Sanzhongyichuang Fund, Hefei Industrial Investment, and Zhenwei Fund. Existing shareholders Legend Capital and Chaos Investment also continued to participate. Gaorong Ventures had invested in two consecutive rounds in GalaxySpace in 2018.

Founded in 2018, GalaxySpace is China's first unicorn in the commercial aerospace and satellite internet sectors. On March 5 this year, China successfully launched six low-earth orbit broadband communication satellites — the GalaxySpace-02 batch — marking the country's first mass-produced satellite batch. Together with GalaxySpace's inaugural satellite, these formed China's first low-earth orbit broadband communication test constellation, building a satellite-ground integrated 5G test network called the "Little Spider Web."

Going forward, GalaxySpace will accelerate breakthroughs in core technologies including stackable flat-panel satellites, onboard flexible multi-beam phased array technology, flexible solar arrays, and digital processing payloads. It will also accelerate the build-out of low-cost, batch satellite manufacturing capabilities, advancing toward the era of 6G characterized by high-speed ubiquitous connectivity, integrated space and ground networks, and interconnection of all things. Read more

#03

Shimu Microelectronics closes Series A Focused on high-performance analog signal chain chip design

In September, Shimu Microelectronics announced the completion of a Series A round exceeding RMB 100 million, led by Eight Roads with participation from Northern Light Venture Capital, Feitu Ventures, Jiewei Ventures, and Huafeng Test & Control. Existing investors Gaorong Ventures, Jucheng Investment, Walden International, Yuanhe Puhua, and Zhongguancun Science City also made additional investments. Gaorong Ventures had invested in Shimu Microelectronics in 2021.

Founded in early 2021, Shimu Microelectronics focuses on high-performance analog signal chain chip design, dedicated to providing high-performance amplifier, ADC/DAC, and precision reference source solutions for industrial control, IoT, and automotive electronics — building bridges between the analog and digital worlds. Its ADC/DAC chips (analog-to-digital/digital-to-analog converters) are regarded as the crown jewels of analog chips.

Going forward, the company will leverage its technology leadership, reliable products, and quality services to become a pioneer in domestic high-performance signal chain chips. Read more

#04

Raysolve secures additional strategic funding in the millions of dollars Imminent release of monolithic full-color chip

On September 20, Raysolve announced the completion of multi-million dollar Pre-A+ and Pre-A++ rounds, led by Inno-Chip and AAC Technologies respectively, with existing investor Gaorong Ventures continuing to increase its stake. Gaorong Ventures had led Raysolve's Pre-A round in 2021.

Founded in 2019, Raysolve is a high-tech enterprise focused on Micro-LED micro-display CMOS chip architecture design, process development, and monolithic full-color technology research. Its core team originates from the Department of Electronic and Computer Engineering at The Hong Kong University of Science and Technology, with years of experience in cutting-edge optoelectronic chip design and manufacturing.

Raysolve has independently developed the world's first monolithic full-color QD Micro-LED micro-display chip, building globally leading full-color Micro-LED display technology and solutions. The company is committed to breaking through core bottlenecks in near-eye display technology and accelerating the maturation of consumer-grade AR devices. Read more

#05

BioGeometry closes angel round Next-generation AI technology driving large-molecule drug discovery

On September 21, BioGeometry announced the completion of a multi-million dollar angel round from Gaorong Ventures. Founded in 2021 by Dr. Jian Tang, Associate Professor with tenure at Mila — the Quebec AI Institute at Université de Montréal — BioGeometry is dedicated to developing next-generation AI technologies including geometric deep learning and deep generative models for large-molecule drug discovery.

The company is building two foundational platforms: AI-driven large-molecule drug design and high-throughput large-molecule wet-lab validation. Through a closed loop of dry and wet experiments, it rapidly completes candidate drug design and improves success rates in clinical stages.

The team has also collaborated with NVIDIA, Intel, and IBM to release TorchProtein, the first open-source machine learning platform for large-molecule drug discovery. The platform open-sources a general framework for deep learning-based large-molecule modeling, the first pre-trained large model based on protein 3D geometric structures, and a standardized dataset specifically designed to evaluate deep learning performance on protein modeling. Read more

Sep

By the Numbers

#01

Genki Forest enters Indonesia's largest retail chain Products now in over 40 countries and regions

Recently, Genki Forest announced its full launch across Indomaret, Indonesia's largest retail chain. Indomaret operates over 20,000 stores, accounting for nearly 40% of Indonesia's modern channel market share.

With healthy, great-tasting products, Genki Forest is gaining favor with consumers and Indonesian retail chains. In July this year, after launching in Indonesian chain supermarket Grandlucky, its lychee and white peach sparkling waters ranked TOP 3 and TOP 4 respectively in the carbonated + flavored water category for PET beverages within just two months.

Genki Forest has also actively pursued product compliance certifications, applying for BPOM certification and halal certification for its products and factories. It has become one of the few Chinese beverage brands to obtain both authoritative certifications in the Indonesian market, laying a solid foundation for gaining recognition from overseas consumers.

Since launching its international strategy in 2019, Genki Forest has gradually entered over 40 countries and regions including the US, Australia, New Zealand, and Singapore, driven by its health-focused philosophy and strict quality control.

#02

Geekplus continues to lead in global expansion Overseas systems integrator partners exceed 50

In September, Geekplus's overseas systems integrator partners surpassed 50. Through close collaboration with these partners, Geekplus continues to create benchmark projects and jointly drive global supply chain transformation. This growing overseas ecosystem partnership network provides sustainable momentum for Geekplus's strong global business growth.

Currently, Geekplus has achieved global cooperation with Körber Supply Chain, a leading supply chain technology provider, across Australia, the US, and Brazil, with single-warehouse deployments exceeding 100 units. Based on its "localization strategy," Geekplus has also partnered with regional systems integrator leaders to deepen market penetration and accelerate smart logistics upgrades locally. For example: it has joined forces with Bosch Rexroth, Conveyco, and KPI to expand in the Americas; collaborated with Breathe, AMH, and Lalesse on benchmark projects in Europe; and partnered with Ally Logistic Property and Unitech to advance smart logistics in the Asia-Pacific region.

#03

Vertilite launches high peak power short-pulse VCSEL light source driver board, with peak optical power output up to 1000W

Vertilite recently launched a high peak power short-pulse VCSEL light source driver board, enabling customers to more simply and rapidly complete their own LiDAR product definition and adaptation. Vertilite focuses on high-power and high-speed VCSEL (vertical-cavity surface-emitting laser) solutions, designing and producing VCSEL products widely used in automotive electronics and consumer electronics.

The VCSEL light source driver board features Vertilite's industry-leading multi-junction VCSEL laser chips and self-developed short-pulse drive circuits, with core components selected from automotive-grade chips. It supports mounting of 1-2 VCSELs and can be equipped with various multi-junction VCSEL laser chips according to actual requirements. Peak optical power output reaches up to 1000W (burst mode @ 100kHz), using 12V voltage input without requiring additional high-voltage power supplies. It is specially adapted for SPAD sensors to implement dToF LiDAR solutions, applicable to AGV navigation, logistics sorting, industrial detection, service robots, and other fields.

#04

Qiyuan World wins first place in AIWIN "Text and Speech-Driven Digital Human Facial Expression and Lip Sync Competition" at World Artificial Intelligence Conference

Recently, Qiyuan World's digital human team invatar made its industry debut and, with solid AI-driven technology, achieved first place in the "Text and Speech-Driven Digital Human Facial Expression and Lip Sync Competition" at the World Artificial Intelligence Conference Innovation Competition (AIWIN).

Qiyuan World's digital human team invatar employs a pure AI-driven digital human solution, capable of driving 2D/3D digital humans of arbitrary people in arbitrary languages without requiring a human performer behind the scenes, greatly enhancing digital human mass production capabilities. Through self-developed lip-sync matching and eye movement technology algorithm models, the digital human's facial expressions and lip movements achieve high expressiveness and emotional depth, while simultaneously driving head movements, blinking, and eyebrow movements to enhance the human-like quality of AI-driven digital humans.

Beyond the sensory intelligence represented by invatar, Qiyuan World is also advancing AI-driven digital human capabilities across cognitive intelligence, decision intelligence, motor intelligence, and end-to-end training optimization.

#05

Style3D launches 3 fabric digitization hardware products, achieving one-stop software-hardware digitization closed loop

In September, Style3D, a 3D digitization service platform for the fashion industry chain, officially released three major fabric digitization hardware products, enabling high-definition scanning and recording of fabric materials and physical property data collection. This helps R&D and design personnel more accurately and efficiently perform digital fabric generation and simulation.

Among them, the Style3D Fabric 3D Scanner completes high-definition scanning in just one minute, with bidirectional improvements in data accuracy and efficiency compared to market alternatives. Style3D also simultaneously launched fabric tensile measurement and bending measurement products, supporting direct connection to Style3D Fabric software for precise fabric reproduction.

Previously, with the adoption of Style3D's fabric digitization processing software and digital modeling design software, high-simulation, high-efficiency, high-accuracy simulation effects have gained recognition from numerous users. With the launch of Style3D's digitization hardware, Style3D users can now achieve a closed loop of "fabric digital recording — fabric digital processing — digital fabric/3D garment R&D — online collaboration — digital exhibition and sales — direct-to-production" for digital R&D management.

#06

Abogen Biosciences' COVID-19 mRNA vaccine receives EUA in Indonesia, becoming China's first mRNA vaccine approved for clinical use internationally

On September 30, Abogen Biosciences announced that ARCoV, a novel coronavirus mRNA vaccine co-developed with the Academy of Military Medical Sciences of the Chinese People's Liberation Army and Walvax Biotechnology, had received an Emergency Use Authorization (EUA) from Indonesia's Food and Drug Administration (BPOM). This is Abogen Biosciences' first EUA overseas, and China's first mRNA vaccine approved for clinical use internationally.

Previously, ARCoV conducted Phase 3 clinical trials globally with over 20,819 enrolled subjects, of which Indonesia contributed the largest enrollment with over 9,055 subjects. Comprehensive data showed that ARCoV demonstrated high protection rates against both the original SARS-CoV-2 strain and Omicron variants, with overall good safety. For the currently predominant Omicron variant globally, the ARCoV group had no severe cases and showed high protection rates against mild-to-moderate illness.

Beyond ARCoV, Abogen Biosciences' Omicron-specific mRNA vaccine has received clinical trial approval in the UAE and Indonesia, with Phase 1 enrollment recently completed. Meanwhile, the company is actively developing broader-spectrum multivalent COVID-19 vaccines including bivalent and trivalent formulations to meet the needs of the next phase of pandemic prevention and control.

#07

Cornerstone Robotics completes first clinical application of surgical robot, advancing domestic surgical robots to new heights

Recently, Cornerstone Robotics completed its first batch of clinical enrollments with its multi-port laparoscopic surgical robot at Prince of Wales Hospital in New Territories, Hong Kong. The successful completion of its first surgery marks a key milestone for domestic laparoscopic surgical robots.

Reportedly, surgery using Cornerstone Robotics' multi-port laparoscopic surgical robot offers advantages over traditional surgery including higher incision positioning precision, smaller surgical incisions, and higher clinical safety, while reducing invasiveness to the patient's body and facilitating postoperative recovery. Cornerstone Robotics' surgical robot has simultaneously launched multiple clinical surgical procedures in general surgery, including stomach and colon procedures, with initially promising clinical results.

Cornerstone Robotics has completed global strategic deployment across Hong Kong, Shenzhen, Beijing, and the US, assembling a professional team of several hundred people covering mechanical engineering, electrical engineering, software, control, algorithms, imaging, and other disciplines, with global vision and internationally leading technology. The company is committed to making deep advances in the surgical robotics field, building a product matrix spanning multiple departments and clinical applications, and providing efficient, safe, reliable, and accessible China-made solutions for medical professionals and patients worldwide.

Sep

Vision

#01

Chao Can Shu brand film wonderfully released: Imagine boldly like a child, creating AI with life

#02

XTransfer lights up 30 cities, providing quality localized services for 250,000+ foreign trade clients

Sep

Policy

# 2022 Financial Literacy Month activities carried out in depth

In September 2022, the People's Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, and Cyberspace Administration jointly launched the "Financial Literacy Month, Financial Knowledge into Every Household, Be a Rational Investor, Be a Good Financial Netizen" campaign.

Campaign slogan: Enhance public financial literacy, promote national financial health, build a clean cyberspace, cultivate a sound financial ecosystem

Campaign theme: Targeting financial consumers and investors, promote basic financial knowledge and financial risk prevention skills. Conduct in-depth risk warnings against illegal deposit-taking and fundraising, eldercare financial fraud, telecom and online fraud, illegal proxy rights protection, and other behaviors that infringe upon financial consumers' legitimate rights and interests and endanger financial stability and security, to prevent illegal financial activities. Advocate that financial consumers and investors practice scientific financial management and reasonable borrowing, rationally choose financial products and services suitable for themselves, avoid blind investment and impulsive trading, promote the social co-construction of financial health, and advance common prosperity. Guide financial consumers and investors to consciously resist online financial rumors and negative financial energy, jointly build a clean cyberspace, enable the people to better share the fruits of financial reform and development, and satisfy the needs of a better life.

Sep

Recognition

In September, Gaorong Ventures was named to 36Kr's 2022 Top 10 Most LP-Recognized VC Firms in China; it also received Cyzone's 2022 Top 10 Most Admired VC Firms in China, Top 10 Investment Firms in Digitalization, and Best ESG Practice Award for Chinese VC Firms.

Sep

Gaorong Ventures

# Carbon Neutrality · Frontier Tech Dialogue with Energy Storage Battery Industry "Trailblazers"

The "carbon neutrality" strategy will not only reshape China's energy structure but also serve as an important innovation testbed for numerous frontier technologies. On September 29, The University of Hong Kong Beijing Centre, Gaorong Ventures, and EO Auto jointly hosted the online seminar "Frontier Tech X Energy Storage Battery Industry 'Trailblazers'."

Professor Guanhua Chen, Professor in the Department of Chemistry at The University of Hong Kong and Director of the Hong Kong Quantum AI Lab; Dr. Zheng Li, General Manager of QingTao Energy; and Dr. Feng You, General Manager of the Large-Scale Energy Storage Division at Watts Energy, shared and discussed the innovation landscape of the battery and energy storage industry driven by frontier technologies.