Cicadas singing everywhere — answering summer's call together | Quarterly

The cicadas are starting to hum — nature's signal that summer has arrived and everything is growing. BlueRun Ventures and our portfolio family are channeling that same vitality into continuous creation.

Over the past three months, Booming Club — the new gathering place for our "Buming" founder ecosystem — has hosted two sessions. We've stayed committed to discussing real connections, real needs, and real creation. In July, Booming Night returned as scheduled, taking place in Shanghai on the eve of WAIC and capturing an AI era in the making. Then we headed to AdventureX 2026 with fresh discoveries in hand, creating alongside young makers at China's largest hackathon.

Meanwhile, our portfolio companies have been flourishing across their respective fields — embodied intelligence, large models, AI hardware — each making impressive strides. Many gathered at the July World Artificial Intelligence Conference (WAIC) to showcase the most talked-about, cutting-edge technologies, continuing to create real-world value.

The summer cicadas are still singing. We're looking ahead, waiting for the next harvest season.

BlueRun Ventures Leads Angel Round

OriginFlow

Total Funding Exceeds RMB 500 Million

OriginFlow recently completed multiple consecutive funding rounds including angel, strategic, and Pre-A1 rounds. BlueRun Ventures led its angel round and continued to significantly over-subscribe in the strategic round. Founded by Tsinghua PhD student Shentao Qin, a Gen Z entrepreneur, OriginFlow has developed the proprietary NeuroScale data collection paradigm. Using neuromuscular sensing technology, the company breaks through the physical interaction data bottleneck in embodied intelligence. In just five months of formal operations, OriginFlow has raised over RMB 500 million in total funding. This round will primarily advance full-stack NeuroScale R&D, build embodied intelligence data collection infrastructure, and deploy in industrial manufacturing and home service scenarios.

BlueRun Ventures Leads

BrainThink Technology

Completes Over $10 Million Angel Round

This round was led in sequence by Bayland Capital and BlueRun Ventures, with Fosun Health Capital participating. Proceeds will fund product engineering, neural foundation model development, and GMP production facility construction. Led by Professor Guoliang Chen of The University of Hong Kong, BrainThink Technology combines original technology with rapid commercialization capabilities, focusing on high-performance brain-computer interface electrodes and neural decoding systems.

BlueRun Ventures Leads

SiClink

Completes Consecutive Seed and Angel Rounds Totaling Tens of Millions of RMB

Invasive brain-computer interface startup SiClink recently completed consecutive seed and angel rounds totaling tens of millions of RMB. This round was led by BlueRun Ventures, with Hillhouse and CAS Shenguang co-investing. SiClink starts from visual reconstruction, exploring high-bandwidth, low-latency, long-term stable bidirectional interaction channels between the brain and external world.

BlueRun Ventures Leads

StarSight Technology

Completes Tens of Millions of RMB Angel Round

BlueRun Ventures led the angel++ round of StarSight Technology, which recently completed consecutive angel+ and angel++ rounds totaling tens of millions of RMB. Pine VC participated, with existing shareholders Clear Water Bay Phase II Fund and MiraclePlus increasing their stakes. StarSight Technology focuses on intelligent imaging technology and hardware manufacturing, entering through long-distance observation scenarios with the AI-powered Vizta smart telescope. This round will fund core intelligent imaging R&D, new product matrix development, user experience iteration, and production and supply chain capabilities.

BlueRun Ventures Adds Investment

MicroNano Core

Completes Over RMB 1 Billion Series B Financing

BlueRun Ventures led MicroNano Core's Series B round and continued to invest in this round. MicroNano Core is a global leader in compute-in-memory AI chips, having pioneered the 3D-CIM™ three-dimensional compute-in-memory architecture globally. This financing will accelerate end-cloud industry partnerships and ecosystem development. This also reflects BlueRun's long-term bet on edge AI, as we anticipate opportunities for AI chip architecture reconstruction driven by the edge-cloud collaboration trend.

BlueRun Ventures Early-Stage Portfolio

Ze'an Biopharmaceutical

Completes $38 Million Financing

BlueRun Ventures was an investor in Ze'an Biopharmaceutical's A+ round. Ze'an Biopharmaceutical is a clinical-stage biotechnology company focused on novel immunotherapies. Since its founding in 2022, the company has raised approximately $130 million in total. This round was led by Hillhouse, with a major international sovereign wealth fund making a significant follow-on investment, and BlueRun Ventures among several existing shareholders adding to their positions. Based on its globally proprietary U-MCE™ platform, Ze'an Biopharmaceutical will use this financing to accelerate its "Myeloid Cell Engager" (MCE) immunotherapy pipeline.

Moonshot AI

Releases and Open-Sources Kimi K3 Model

Launches Kimi Work Beta Desktop Agent

Moonshot AI released the Kimi K3 model with 2.8 trillion parameters, supporting a 1 million token context window, and topping the Arena international AI coding tools benchmark. On July 27, Moonshot AI open-sourced the Kimi K3 model weights, technical report, and training infrastructure to advance the open-source ecosystem. The company also launched Kimi Work Beta, a desktop agent powered by Kimi Code capabilities, supporting local file processing, browser operations, skill invocation, and multi-agent collaboration — with up to 300 sub-agents for complex task execution.

Galaxy Universal

Releases WAM-TTT Framework

and Launches AstraBrain-WBC 0.5 Model

Galaxy Universal introduced the WAM-TTT test-time training framework and released the AstraBrain-WBC 0.5 general cerebellar foundation model, continuing to build out its AstraBrain technical architecture. WAM-TTT adapts to new environments using only minimal human video, without requiring large amounts of robot trajectory data or motion annotations. AstraBrain-WBC 0.5, trained on approximately 20,000 hours of human motion data with 80.4 million parameters, is the first to validate a GPT-like scaled training approach in robot motion control. During WAIC 2026, Galaxy Universal demonstrated Galbot G1 and S1 robots autonomously executing tasks in breakfast preparation, retail attendance, and industrial handling, advancing embodied intelligence from model R&D to real-world application.

AgiBot

Releases BFM-2, GE2.0 and Other Embodied Intelligence Model Systems

and Establishes Hong Kong International R&D Headquarters

AgiBot successively released the motion control foundation model BFM-2, world model GE 2.0, and omni-modal understanding model WITA-Omni Preview. BFM-2 optimizes humanoid robot motion control capabilities; GE 2.0 achieved leading performance on the WorldArena world model benchmark with 2 billion parameters; and WITA-Omni Preview topped the DailyOmni omni-modal understanding benchmark. AgiBot also showcased its "deployment-ready" application system at WAIC 2026, with plans to open its first offline experience space in Shanghai covering retail, industrial, and other practical scenarios. Additionally, AgiBot established its international R&D headquarters in Hong Kong to advance the globalization of embodied intelligence, while continuing to build out its embodied intelligence model systems.

Youibot

Releases Industrial Embodied Intelligence Large Model FabriX

and Humanoid Robot Xifeng

FabriX combines a multi-modal MoE model trained on real industrial robot data with mechanistic control priors, improving reliability and transferability in complex industrial environments. Xifeng, based on low-sample transfer technology, achieves 90% task success with only 50 training examples. At WAIC 2026, Youibot demonstrated its embodied intelligence matrix covering industrial logistics, inspection, and maintenance scenarios. The company has deployed over 800 projects in semiconductor, energy and chemicals, and lithium battery sectors, and has launched the FabriX ecosystem partner program.

PPIO

Announces Agentic Cloud Positioning

PPIO announced its Agentic Cloud positioning at WAIC 2026, building cloud computing infrastructure for the AI Agent era around model inference, compute scheduling, and application deployment needs. The company also released China's first intelligent model gateway, which automatically selects appropriate large models for different tasks. As of April 2026, PPIO's daily token consumption reached 1.028 trillion, with its compute network covering over 1,340 cities globally, continuously enhancing its AI infrastructure service capabilities.

Genspark

Officially Releases AI Workspace 6.0

Genspark released AI Workspace 6.0, introducing SecondBrain long-term memory system, SecondBrain Note, GenMail, AgentBase, and GenTeam features. SecondBrain integrates emails, meetings, documents, and applications into continuously updated user context. SecondBrain Note is a card-style AI recording device that syncs offline meeting content into AI workflows. Workspace 6.0 also upgrades Super Agent capabilities, supporting AI agent collaboration on complex tasks.

BioMap

Continues Building AI-Driven Drug Discovery Infrastructure

BioMap continues advancing its life science foundation model xTrimo and BioMap OS wet-dry closed-loop discovery system, exploring AI-driven reconstruction of the drug discovery process. The company has partnered with Tianjin Institute of Pharmaceutical Research, Unknown, and Harbour BioMed respectively on industrial strain large models, AI microbial drug discovery, and complex macromolecular drug development — extending AI capabilities from protein and DNA foundation models toward industrial applications including virtual cells and innovative therapeutics.

Tashi Zhihang

Releases AWE 3.5 Embodied General Large Model

and Debuts DexHand Dexterous Hand for First Time

Tashi Zhihang released its next-generation embodied general large model AWE 3.5 at WAIC 2026, winning the conference's SAIL Star Award. AWE 3.5 is trained on over one million hours of human-centric real-world data, enhancing robot generalization and stable execution in real environments. The A1 robot powered by AWE 3.5 demonstrated multiple task types. Tashi Zhihang also debuted the TARS DexHand at ICRA 2026, achieving high-level coupling of hardware, data, and model capabilities as a new "hand-brain integrated" system.

Sudu Tech

Embodied Robot System Sudo R1 Debuts at ICRA 2026

Sudu Tech publicly demonstrated its robot system at ICRA 2026 for the first time, with robots grasping objects of different materials and shapes including sponges, plastic bottles, cardboard boxes, screwdrivers, and wire harnesses. The company adopts a Sim2Real approach, building robot capabilities through 3D generative AI and simulation training. Its previously released Sudo R1 achieved nearly 100% zero-shot success in continuous grasping tests of over 100 novel objects without any real robot training data.

Proto-Sentient Intelligence

Open-Sources SynData Dataset

Tops Hugging Face Trending

Proto-Sentient Intelligence open-sourced the embodied intelligence dataset SynData, topping the Hugging Face Trending list. The dataset supports embodied intelligence model development and capability evaluation. At WAIC 2026, Proto-Sentient Intelligence partnered with Yangtze Optical Fibre and Cable to release an optical module high-end manufacturing solution, demonstrating five embodied intelligence demos covering operation and inspection scenarios in manufacturing processes.

Critical Point AGILINK

Becomes Unicorn and Launches OmniHand 3 Series

AGILINK, the dexterous hand developer spun out from AgiBot, completed a new round of hundreds of millions of RMB in financing, with a post-money valuation exceeding $1 billion — becoming a unicorn in under five months since founding. The company has cumulatively delivered over 8,000 dexterous hands and over 10,000 grippers, and launched the OmniHand 3 series covering industrial-grade dexterous hands, compact dexterous hands, and high-precision grippers.

Simplexity Robotics

Releases LaST-R1 Reinforcement Learning Framework

Simplexity Robotics, in collaboration with Peking University and The Chinese University of Hong Kong, proposed the LaST-R1 reinforcement learning post-training framework, combining latent space reasoning with robot action generation. On the LIBERO benchmark, LaST-R1 achieved an average success rate of 99.9%, and on four real robot tasks demonstrated an average performance improvement of 22.5% over current state-of-the-art supervised fine-tuning methods. The company has released technical achievements including the LaST₀ foundation model and ManualVLA task model.

VITURE

Releases Beast XR Smart Glasses

VITURE officially launched its flagship XR smart glasses Beast. Beast features Sony's new-generation Micro-OLED display, supporting a 174-inch virtual screen, 1200p resolution, and 1,250 nits brightness, further enhancing immersive viewing, gaming, and productivity experiences. VITURE is also exploring XR-AI integration, launching AI safety glasses based on NVIDIA's XR AI solution that combine visual perception, edge computing, and XR display capabilities to expand smart glasses applications in safety and industrial scenarios.

Li Auto

Releases AI Glasses Livis and Expands into Embodied Intelligence Applications

Li Auto released AI glasses Livis and is advancing AI capabilities across automotive and smart hardware scenarios. Livis features multi-modal AI interaction, supporting voice assistant, environmental perception, and information retrieval functions, and has entered 100 Li Auto retail centers nationwide for demonstration. Li Auto also unveiled L9 Livis-related embodied intelligence explorations, extending AI capabilities from in-vehicle intelligent interaction to physical world applications.

Kaiwuji

Releases Materials Foundation Dataset ELEMENTA

Kaiwuji released ELEMENTA, the world's largest materials foundation dataset, containing approximately 210 million DFT-labeled configurations and 9.7 million DFT-relaxed polymorph structures covering approximately 1.9 million chemical compositions, along with the simultaneous release of ELEMENTA Spin and ELEMENTA Vib datasets. The dataset searches atomic structure space from chemical composition, providing training data for materials foundation models.

iKingTec

Conducts Low-Altitude Robot Flood and Typhoon Prevention Inspections

iKingTec's "low-altitude robots" conducted flood and typhoon prevention inspections across multiple regions in China. The system carries edge AI chips and cloud-based low-altitude large models, identifying hazards such as vessels, falling objects, and construction risks, and completing warning and response loops through air-ground coordination.

Keyi Tech

Launches AI Office Device Loona Deskmate

Keyi Tech launched the desktop AI device Loona Deskmate. It connects to iPhone, combining phone cameras, base sensors, and screen perception technology to recognize user status, understand screen content, and execute office tasks. It supports multiple current office applications, assisting with email processing, meeting minute organization, and task management. The product completed crowdfunding on Kickstarter, raising over $720,000 (approximately RMB 5 million) in 30 days with 3,166 global backers.

BlueRun Hosts Booming Night "Beyond the World" on Eve of WAIC

On July 16, the eve of WAIC 2026, BlueRun Ventures hosted the second Booming Night in Shanghai, themed "Beyond the World." The event received over 1,200 applications from the AI venture community, nearly double last year's number. Attendees spanned the entire AI ecosystem: AI founders, renowned entrepreneurs, LPs, global tech giant business leaders, top AI influencers, and star portfolio companies from the BlueRun family. Passionate founders sparked creativity in each other, while activities — role-playing, jargon-busting, token-shoveling challenges, AI music DJ performances, and small talk sessions — kept the energy rising throughout the night.

BlueRun Hosts First Booming Club "Misfits Gathering"

On May 8, BlueRun Ventures' "Buming" founder ecosystem launched its new gathering place Booming Club in Beijing with its first "Misfits Gathering," inviting ten unconventional founders to share their unique growth experiences and entrepreneurial persistence — letting them see each other, and letting those outside the room see that misfits have never been a small population.

BlueRun Hosts Booming Club Second Session "AI Inefficiency"

On June 12, Booming Club held its second session, focusing on "AI Inefficiency." Open to founders and creators building AI-native non-efficiency products, exploring unknown experiences, and not taking efficiency as the only coordinate — from discussions of "inefficient" experiences in the AI era to projects like rare disease open-source communities, exploring what makes us human beyond efficiency.

BlueRun and AgiBot Co-Host VLA and World Model Technical Salon

On July 4, BlueRun Ventures' "Buming Booming" partnered with AgiBot's A-Plan to host the technical offline salon "VLA and World Models: Either/Or or Twin Era," gathering technical leads from Tsinghua University, BAAI, StarSight Intelligence, and Moke Robotics for four hours of deep discussion around two technical paths in embodied intelligence.

BlueRun Appears at AdventureX 2026, Completes "Leap of Faith" with 800 Creators

From July 22–24, BlueRun Ventures again served as a major supporter of AdventureX 2026, joining hundreds of young "hippies" in Hangzhou to create together. At the opening ceremony, BlueRun Ventures investment partner Fu Qiang gave a speech titled "Overcoming This Era Within Yourself." At the workshop "From Demo to Deal: Face-to-Face Real Talk with Super VCs," Fu Qiang engaged founders in an open AMA format, answering their questions: how an idea becomes a product, how a product creates value, and how a company gradually takes shape from initial judgment. BlueRun also exhibited throughout the event, meeting participants and creators face-to-face, helping them find kindred spirits and giving away BlueRun custom merchandise.

Zero2IPO 2026 "PEDaily TOP100" Investors

• Jui Chan | 2026 PEDaily TOP100 Investor

36Kr 2026 China Equity Investment Industry Institutional Rankings

• BlueRun Ventures | China Early-Stage Investment Institutions TOP4
• BlueRun Ventures | China's Most Influential Early-Stage Investment Institutions TOP10
• Jui Chan, Terry Zhu | China's Most Popular Investors Among Founders TOP100
• Wei Cao | 2025–2026 Most Active Investors TOP30

VBData 2026 "China Healthcare Industry — Value Investment and Service Institutions TOP50"

• BlueRun Ventures | AI-Bio Convergence "Hardcore Tech Lead Investor"

China FOF Research Center 2026 Special Rankings

• BlueRun Ventures | 2026 Early-Stage Funds Best Returns TOP30

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