High-end chips, novel drugs, and robotics unlock innovation codes; LiDAR and new energy storage accelerate industrial deployment | Rongbao · August

Building robust infrastructure for communications and computing, achieving mass delivery of high-performance chips, unleashing unlimited productivity through intelligent machines, advancing innovative drugs and medical devices through clinical trials, and establishing R&D and production facilities as benchmarks for smart manufacturing — "Steel is forged through a thousand temperings." This month's Gaorong Ventures newsletter rounds up the breakthroughs and milestones powered by innovation.

Aug

Funding

Zhuanxin Semiconductor Completes Series A1 Funding High-End Network Chip Nears Tape-Out

Recently, high-end network chip company Zhuanxin Semiconductor announced the completion of a nearly RMB 300 million Series A1 funding round, co-led by Sincere Capital and GP Capital. Gaorong Ventures had previously participated in Zhuanxin's angel round in 2022.

Zhuanxin focuses on developing proprietary high-performance programmable network chips, building flexible and open networking solutions for cloud service providers, equipment vendors, operators, and enterprises of all kinds.

High-quality network transmission underpins the widespread adoption of AIGC, intelligent data centers, and cloud computing. High-performance network chips are the workhorse "large chips" of the data communications market, with extremely high technical barriers. Zhuanxin's programmable technology enables network chips to flexibly adapt to these diverse scenarios.

To date, Zhuanxin has completed product design of its network chip and is approaching tape-out, moving closer to supplying products to mainstream domestic network equipment vendors. The company has also established strategic partnerships with industry leaders.

DotBio Completes Pre-A Funding Focused on Developing Innovative Antibody Therapies for Oncology

In August, DotBio, a biopharmaceutical company dedicated to delivering more effective therapies to patients through innovative antibody technology, announced the completion of a tens-of-millions RMB Pre-A funding round, co-led by Gaorong Ventures.

Founded in Singapore, DotBio employs innovative treatment approaches to achieve optimal efficacy: rapidly designing multifunctional antibody prototypes to identify multifunctional antibodies with synergistic activity, optimal structure, and unique mechanisms of action.

DotBio's methods include leveraging its modular DotBody technology platform, Colony Filtration (CoFi), High-Temperature Colony Filtration (Hot-CoFi), high-throughput miniaturized assays, and data analytics to produce unique therapeutic molecules targeting disease factors both inside and outside cells. As a platform company, DotBio is building multiple targeted DotBody modules and a pipeline of preclinical assets in tumor immunology. Read more

Cathay Biotech Completes New Funding Round Accelerating Clinical Research on Proprietary Products for Metabolic Diseases

On August 11, Cathay Biotech, a biotech company focused on new drug R&D and commercialization for metabolic diseases including NASH, announced the completion of a RMB 140 million new funding round. Gaorong Ventures had led Cathay Biotech's Pre-A round in 2020 and participated in subsequent rounds.

Cathay Biotech is a clinical-stage biotech company specializing in original innovation in targeted nuclear receptor and GPCR drug development, with a focus on unmet clinical needs in metabolic diseases and inflammation.

The company's lead drug candidate, CS0159, has completed Phase I clinical trials in both China and the US, demonstrating excellent safety and tolerability along with expected PD biomarker signals. The Phase IIa study for the NASH indication has completed enrollment of all subjects in the US, with promising safety and preliminary efficacy for CS0159 monotherapy in NASH; meanwhile, multiple Phase II studies for additional indications have been launched concurrently at multiple domestic centers. Three additional innovative drug molecules in the company's pipeline are advancing toward IND submission. On August 30, the first patient was dosed in the China Phase II study of CS0159 for primary biliary cholangitis (PBC).

Aug

By the Numbers

Polestones Automotive Unveils Mid-to-Large Intelligent Luxury SUV: Polestones 01

On August 22, Polestones Automotive officially launched the Polestones 01, a mid-to-large intelligent luxury SUV. Designed for those who "love family, love the outdoors, love every departure," the Polestones 01 features a dual-motor four-wheel-drive extended-range electric system with a CLTC combined range of 1,338 km and WLTC combined range of 1,115 km, effectively eliminating range anxiety for long-distance driving.

For outdoor expedition scenarios, the Polestones 01 introduces a newly developed "Intelligent Off-Road Mode" that enhances performance across complex terrain while smoothing out the jolts from rugged surfaces. In China Insurance Automotive Safety Index (C-IASI) testing, the Polestones 01 achieved a record-breaking peak roof crush load of 134,201 N, ensuring cabin safety and giving every family member peace of mind on long journeys.

The Polestones 01 comes in two configurations: a versatile 7-seat version with a 2-2-3 layout and center aisle, and a premium 6-seat version with a 2-2-2 layout featuring ultra-luxury aviation seats in the second row, accommodating different family structures. Polestones has also developed an intelligent driving system and smart cockpit tailored for long outdoor trips and family travel, alongside the industry's first rear kitchen system.

The new vehicle began its national tour on August 18, with user test drives launching in nine cities in October. Nationwide deliveries of the Polestones 01 will begin in November 2023.

---

Innoviz and BMW Enter B-Samples Development Phase for Next-Generation LiDAR

Recently, Innoviz announced deepened collaboration with BMW Group, entering the B-samples development phase for next-generation LiDAR. Under the cooperation agreement, Innoviz will develop B-samples based on its second-generation InnovizTwo LiDAR sensor.

The partners plan to deploy LiDAR-supported highly automated technology for the first time on the BMW 7 Series later this year, while initiating the first phase of B-samples development. BMW Group also plans to sign a series development agreement with Innoviz to bring autonomous driving capabilities to a broader BMW product line. Innoviz is developing the solution as a Tier 1 supplier, targeting completion by end of 2023 or early 2024.

Beyond the LiDAR solution for the BMW 7 Series, BMW Group and Innoviz will also develop a LiDAR-based Minimum Risk Maneuver (MRM) system. The MRM serves as a secondary safe driving decision platform, leveraging the advanced performance, reliability, and resilience of the InnovizTwo LiDAR to manage driving decisions in real time. The MRM system is part of Innoviz's continuously evolving software suite, which also includes its next-generation perception software. Innoviz is also making rapid progress in AI and machine learning to accelerate development and upgrade cycles for its software suite and expand its core software capabilities.

Vertilite VCSEL Chip Cumulative Shipments Surpass 100 Million Units

On August 11, Vertilite announced cumulative shipments of 100 million VCSEL chips with zero field failures — a new milestone for the company in the VCSEL space.

Vertilite is committed to providing global customers with high-power and high-frequency vertical-cavity surface-emitting laser (VCSEL) solutions. Since its founding in 2015, the company has focused on R&D and production of VCSEL chips and modules. Its comprehensive, high-quality product line covers consumer electronics, automotive electronics, and optical communications.

In consumer electronics markets including smartphones and robotic vacuums, Vertilite has maintained the top domestic shipment volume for multiple consecutive years. In automotive electronics, Vertilite was the first in the industry to complete automotive-grade VCSEL chip certification, and in 2021 achieved mass production of VCSEL chips for front-installed driver monitoring systems (DMS). Vertilite has also become the first company in Asia and one of the top two globally to achieve mass delivery of VCSEL chips for automotive front-installed LiDAR.

Going forward, Vertilite will continue to increase investment in VCSEL product R&D and capability building, working with partners to expand product applications and drive rapid growth in the VCSEL and application markets.

Adaps Photonics Releases Ultra-High-Resolution Pure Solid-State LiDAR SPAD Chip ADS6311

In August, SPAD dToF industry leader Adaps Photonics released the ADS6311, a SPADIS area-array chip widely applicable to pure solid-state LiDAR for vehicles, robotics, and other applications — one of the highest-resolution pure solid-state LiDAR SPADIS chips currently on the market.

The single-photon avalanche diode (SPAD) designed by Adaps Photonics is a core device enabling 3D perception in modern electronics, widely empowering smart vehicles, premium smartphones, robots, automatic control, human-machine interaction, and smart home applications. Adaps Photonics offers a range of SPAD dToF sensing chip products including SiPM, 3D-stacked dToF modules, and limited-point dToF sensors, with industry-leading accuracy, energy efficiency, and ranging capability.

As the core component of pure solid-state LiDAR, SPADIS area-array sensor chip development has strategic significance in defining overall system performance limits. The ADS6311 is the second generation of Adaps Photonics' large-array SPADIS products, primarily targeting blind-spot detection and obstacle avoidance for intelligent passenger vehicles, while also applying to any scenario in robotics or other 3D environments requiring autonomous 3D sensing.

Biren Technology BR104 General-Purpose GPU Completes Level II Compatibility Testing with Baidu PaddlePaddle

Recently, Biren Technology announced a joint hardware ecosystem initiative with Baidu to advance adaptation of Baidu's PaddlePaddle deep learning framework and ERNIE large models on Biren's Bilian series general-purpose GPU products. Biren Technology's BR104 general-purpose GPU and Baidu PaddlePaddle have completed Level II compatibility testing.

This Level II testing covered validation of 18 models across three technical domains: natural language processing, computer vision, and intelligent recommendation. Joint rigorous testing by both parties demonstrated that Biren Technology's BR104 general-purpose GPU meets requirements for accuracy and speed across these models, shows good compatibility with PaddlePaddle, and operates stably overall — satisfying Level II mutual adaptation requirements and meeting user application needs.

The BR104 general-purpose GPU is Biren Technology's first fully mass-produced product, currently available on the Bilian 104P and Bilian 104S compute cards, with commercial deployment across multiple application areas. Based on an original chip architecture, the BR104 delivers high compute power, energy efficiency, and versatility, providing robust compute infrastructure support for broad general-purpose computing scenarios including AI large model training and inference.

AgiBot Releases First-Generation General-Purpose Embodied Intelligent Robot: Expedition A1

On August 18, AgiBot held the launch event for its embodied intelligent robot, Expedition A1. Expedition A1 is AgiBot's first-generation general-purpose embodied intelligent robot, developed in six months based on the founding team's years of accumulated experience in robotics and AI. This robot is expected to autonomously complete mobility and manipulation tasks in various complex scenarios.

Founded in February 2023, AgiBot's mission is "creating unlimited productivity through intelligent machines." The company is dedicated to AI-robotics fusion innovation, aiming to build world-leading embodied intelligent robot products and application ecosystems.

At the launch, AgiBot unveiled a series of self-developed core components and their technical specifications, including the core joint motor PowerFlow, dexterous hand SkillHand, unified software framework AgiROS, language task model WorkGPT, and embodied intelligence EI-Brain.

Expedition A1 will rapidly move toward commercial deployment next year, first targeting industrial smart manufacturing before gradually entering homes to assist workers, researchers, and family members with various tasks. AgiBot has already engaged with multiple leading manufacturing enterprises to apply Expedition A1 in practical scenarios, with plans to expand to more domains in coming years.

WeView Zhuhai "Giga Factory" Completed China's First Gigawatt-Scale Zinc-Based Flow Battery Factory

In August, WeView announced completion of its "Giga Factory" in Zhuhai, entering production line debugging with gradual ramp-up to follow.

Located within the "Doumen Dazhengqin 5.0 Industrial New Space" in Zhuhai, the factory is planned as a 6 GWh annual capacity zinc-iron flow battery project, aiming to become an advanced flow battery energy storage device and system smart manufacturing center — a Giga Factory that will be China's first gigawatt-scale zinc-based flow battery facility upon completion. The project encompasses 185,200 square meters of factory space, with fully digitalized and intelligent production processes, becoming a fully automated low-carbon factory that sets a new benchmark for smart manufacturing.

Zinc-iron flow battery technology offers safety, environmental benefits, and suitability for large-scale, long-duration energy storage applications. Since its founding in 2018, WeView has completed localization of flow battery stacks from technical parameters through the supply chain. Building on this foundation, the team independently developed multiple new processes, successively overcoming nearly 50 process and equipment challenges, and successfully developed a localized zinc-iron flow battery intelligent manufacturing production line that has improved production efficiency by orders of magnitude.

Qitan Tech Releases China's First Commercialized Medium-Throughput Nanopore Sequencing Platform: QPursue

On August 18, at the READs 2023 China Nanopore Sequencing Conference, Qitan Tech released the QPursue platform — China's first commercialized medium-throughput nanopore sequencing platform — comprising two new sequencers, QPursue-6k and QPursue-6khex, along with their companion sequencing chip QCell-6k.

Qitan Tech's QPursue platform delivers significantly increased throughput, meeting user needs for higher-throughput, flexible, and diverse sequencing requirements in a single run. The QPursue-6k carries a single chip with a designed throughput of 60 Gb, while the QPursue-6khex supports flexible selection of 1-6 chips for sequencing, producing up to 360 Gb of data.

In accuracy, the QPursue medium-throughput sequencing platform is compatible with Qitan Tech's latest K2 biochemical system released in March this year, equipped with a new algorithm suite delivering 97% single-read accuracy and Q50 consensus accuracy (70x).

Expanding from the low-throughput QNome sequencing platform to the medium-throughput QPursue platform, Qitan Tech demonstrates strong R&D and innovation capabilities, significantly broadening applications for domestic nanopore sequencers while further reducing user costs.

Pulnovo Medical PADN Enrolls First Patient Globally for Heart Failure-Related Treatment

On August 14, the clinical trial of Pulmonary Artery Denervation (PADN) for Pulmonary Hypertension associated with Left Heart Disease (PH-LHD) successfully completed its first global enrollment at Sichuan Provincial People's Hospital, officially launching the multi-site domestic deployment of this clinical trial and marking the comprehensive exploration of PADN application in heart failure-related treatment.

Pulmonary Hypertension (PH) is a progressive, incurable disease characterized by pulmonary vascular remodeling and gradually increasing pulmonary vascular resistance, which can lead to right heart failure and death. PADN is a percutaneous pulmonary artery interventional therapy originally developed by Pulnovo Medical, opening a new era of device-based PH treatment. Multiple clinical studies have already demonstrated PADN's efficacy and safety in PH treatment.

The successful procedure by the geriatric cardiovascular team, with excellent postoperative patient indicators and no related clinical complications, fully demonstrated surgical capability and spirit while once again confirming the safety and efficacy of China's original PADN technology. The smooth procedure, simple device operation, and favorable outcomes lay a solid foundation for the subsequent national multi-center registration clinical trial.

Yatsen Holding Group's First Factory Yatsen Biotech Officially Opens

On August 11, Yatsen Holding Group announced the official opening of its first factory, Yatsen Biotech. Co-developed with Cosmax, one of the world's largest ODM companies, leveraging innovative technology and professional expertise, the facility is a leading Asian beauty factory integrating R&D, manufacturing, and quality control, with a building area of 78,000 square meters.

The factory leverages premium water sources to establish high-quality production water standards exceeding both Chinese Pharmacopoeia and European Pharmacopoeia requirements. Built on an ERP foundation, it organically connects multiple intelligent management systems for warehousing, production, quality, and energy, achieving more holistic smart management. In production equipment, automated robotic arms enable automated packaging material supply, while cartoning machines and labeling machines automatically complete product packaging. In logistics, automated guided vehicles (AGVs) improve operational efficiency, forming a more efficient intelligent logistics chain. The factory includes a 3,000-square-meter cosmetics quality testing center comprising packaging material, finished product, physicochemical, and microbiology laboratories.

As an important step in Yatsen Holding Group's supply chain layout, Yatsen Biotech's completion and production will effectively drive high-quality manufacturing for the group's brands including Perfect Diary, using biotechnology to advance beauty product innovation. Through efficient resource utilization and continuous R&D investment, Yatsen Biotech minimizes environmental impact, building a truly future-oriented green production and open R&D ecosystem that accelerates transformation of innovative technologies into commercial results.

Horizon

Dewu Launches Free AI Authentication Service

CNES: World's First 300MW Compressed Air Expansion Turbine Completes Integration and Testing

Gaorong Gathering

The Future of Open-Source AI: Open Ecosystems in the Large Model Era

In the large model era, with the release and commercialization of major open-source models like LLaMA 2 and the rise of open-source communities like Hugging Face, the open-source world is seen as having the potential to keep pace with closed-source alternatives.

In August, Gaorong Gathering invited Bill Jia, Senior Vice President at Meta; Yifeng Yin, Lead Machine Learning Engineer for Hugging Face APAC; Tiezhen Wang, Hugging Face China Lead; Kai Chen, Young Scientist at Shanghai AI Laboratory; and Huang Guan, Founder of ShiFang RongHai, to share insights online on trends and the future of open-source AI. Together they explored how small and medium-sized or vertical-domain startups can embrace open-source AI to efficiently develop their own models and applications and build sustainable competitive moats. Read more

Embodied Intelligence Industry-Academia-Research Seminar: When Robots Meet Large Models

The concept of Embodied Intelligence, first proposed by Turing in 1950, has undergone long multidisciplinary development and integration. With advances in generative AI and large models, renewed expectations for embodied intelligence have emerged, with active investment from academia and technology companies.

Focusing on future trends, deployment challenges, and industry-academia-research collaboration opportunities in embodied intelligence, Gaorong Gathering hosted an online seminar featuring Huazhe Xu, Assistant Professor at the Institute for Interdisciplinary Information Sciences, Tsinghua University; Yao Mu, PhD candidate at The University of Hong Kong; and Yuqian Li, NVIDIA Autonomous Machines Industry and Ecosystem Lead. The speakers shared their exploratory practices in embodied intelligence from perspectives of frontier algorithms, embodied intelligence large models, compute acceleration, and humanoid robots. Read more