Linear Voice: 2025 in the Linear Capital Network
Those real and important moments.
In a sense, Moments is the "micro-journal" of today's founders — recording moments that may never make it into a press release, yet genuinely reflect the trajectory of growth.
As the year draws to a close, Linear Capital sent a special request to its portfolio founders and teams: "Share one Moments post or a private photo from 2025. It doesn't need to be perfect, but it must be real."
We don't edit, we don't filter. We present the truest portrait of the Linear portfolio, exactly as it is. Flipping through these "Moments," you'll discover that entrepreneurship isn't a straight upward curve of linear growth, but something pieced together from countless fragments.** These fragments move us because they're real, and resonate because they're honest — carrying us through 2025.
Many assume entrepreneurship is a grand narrative — disruption, revolution, changing the world. But more often, it's countless small, concrete moments.
It's the tension of holding your breath as the first data point flickers live before a new product launch. It's the quiet struggle against internal and external pressure when cash flow runs dry. It's sitting alone in the office until dawn after making a team adjustment decision at midnight. It's the warmth of passing around a thank-you note from a user with the whole team...
So for this year's year-end review, we didn't want to sum everything up with cold data.
Setting aside the funding figures and market valuations that grab attention, the real stories of entrepreneurship unfold in those sleepless nights, instant shares, and moments only fellow travelers can understand. Places like Moments have become the most honest "startup diaries" of our era — no carefully polished PR speak, only steaming live reality; no filtered image of perfection, only the persistence and vulnerability of problem-solving.**
We believe that real is more powerful than perfect, and vulnerability takes more courage than pretense. So we choose to lay it bare. No editing, no filters — the vivid moments of Linear's portfolio and team in 2025, exactly as they happened.
You may find: the restless nights you've endured, others have endured too. The seemingly unsolvable problems you face, someone has just found an answer to. The loneliness you feel actually connects you to a community that understands. These instant shares have inadvertently woven a network of mutual support. Everyone's story is different, yet the anxiety, anticipation, disappointment, and hope are so strikingly similar.
Welcome to 2025, as it lives in Linear's Moments:
#OdyssLife
Founder @ Yuyang Pan
Because we were here once, and that is enough.
#Yiru Bio
Founder @ Rui Su
Building the factory in 2024 burned through almost all our cash. Fundraising hit a wall, and we decided to suspend salaries for six months. In that difficult time, the team decided to go climb a mountain. Looking back, it was bitter and exhausting, but giving up never crossed our minds.
#Tezign
Founder @ Ling Fan
A few years ago, someone asked Professor Liang Ming how to face the VUCA era. Professor Liang thought for a moment and said: "Take charge!" To build & create!
#DigiSight Medical
Founder @ Di Cui
On a business trip to Germany in autumn, I helped a Taiwanese woman at the airport McDonald's. She'd been a missionary for many years — lively, kind, and you couldn't tell she was already 70. She told me about her missionary experiences and gave me a book with a handwritten blessing and a small gift. I don't believe in religion, but I believe in the goodness of people — spreading kindness will always yield good results. That day happened to be my birthday. An unexpected blessing.
#Lightin
Founder @ Zhuopeng Zhang
A celebrity we'd never worked with before spontaneously wore our Holoswim smart glasses for a poolside photoshoot and posted it on social media — highlighting youth, trendiness, and tech appeal. Felt a little proud.
#Manycore Tech
Founder @ Xiaohuang Huang
From "audience member in the corner" at the Wuzhen Conference to "participant on stage." Wuzhen hasn't changed, and neither have I. Long slope, thick snow — the road ahead is long and the responsibility heavy.
#Dajiang Robotics
Founder @ Hao Meng
One city per day in Europe — attending the Essen trade show, meeting partners, visiting old friends (Agile Robots @ Zhaopeng Chen). Though Chinese tech companies are already competitive on the global stage, going overseas still requires carving out a path with our own character and charm. Plenty of opportunities. Let's keep pushing.
#White Rhino
Founder @ Lei Zhu
On the right: White Rhino's first-generation unmanned delivery vehicle from 2019. On the left: White Rhino's latest L4 autonomous delivery vehicle from 2025. From "toy car" to utility vehicle. From going it alone to building a complete operations ecosystem. From small-scale testing to commercial deployment. From early "low-speed unmanned test vehicles" to standardized, vehicle-grade logistics vehicles. This step took us six years.
#Axiogma
Founder @ Yang Ji
After nearly three years of grinding, the team finally brought the product we'd honed through countless pitfalls to Switzerland this September. In the high-end CAE industrial software market, long monopolized by Western vendors, we never expected so many European and American users to start using a Chinese team's product — and pay for it. For us, this moment meant something special.
#Agile Robots
Founder @ Zhaopeng Chen
2025 wasn't easy, but keep the drinks flowing and the people gathering!
#LumiNano
Founder @ Hao Wu
I've traveled far and wide — the Tokyo countryside can't hold me. After wrapping up a full loop of client visits around Tokyo, starving, I snagged the last tuna onigiri from a vending machine. Among all the footprints I've left, I hope some take root and sprout next year.
#Boundless Dynamics
Founder @ Yufeng Zhang
In the early days of starting up, in a tiny epark room, supported by friends. A small chamber, the night like an ocean. The calligraphy on the wall — "to govern and cultivate" — still steady and composed; fresh warmth added to the weathered handwriting at the desk. These genuine sentiments, traveling through time, are the most precious remedy for the long journey ahead.
#Rokid
Founder @ Mingming Zhu
The Rokid booth and scene design for the WAIC debut — I was so busy with production that I didn't participate at all. It was entirely the team's own initiative and effort. Apparently it was the best in show, with people still lining up at the last minute, and the team was exhausted. So glad we could create a display and experience that people loved. Rokid's best work is actually a team that's interesting, passionate, and mission-driven. Our first company value is "spirit of play."
#Deep Principle
Founder @ Haojun Jia
From squatting in others' office space to being the "Columbus" of our new building — as captain, continuing the entrepreneurial voyage with everyone.
#Tashi Intelligence
Founder @ Yilun Chen
This is the first piece our robot embroidered: the Tashi logo. Though still imperfect, everyone was incredibly excited at the time. This triangle also represents our pursuit — a reliable technical foundation, the fusion of intelligence and craftsmanship.
#RIVR
Founder @ Marko
Our own robot dog delivering packages in the U.S. — and it delivered to my favorite brand. So cool!
#Guandata
Founder @ Chunyuan Su
July, on the outskirts of Hangzhou — mid-year strategy session, live team discussion. Intense debates, knowing smiles. The past two years of adapting to the new cycle, building an agile organization — it's starting to look like what we'd hoped for.
#Lingshu Intelligence
Founder @ Wenwei Guo
In the age of AI, cherish human hands-on creation.
#Ling Universe
Founder @ Jiawei Gu
This photo was snapped by a mom in our first user group when the Little Square Camera just launched — her kid wearing it around the neck. It gave me a much stronger sense of the product's reality. It captures the most authentic state: AI accompanying a child to explore the world, happening naturally in the moment they speak or reach out to touch. Often, the best companionship for growth hides in these everyday moments.
#D-Robotics
Founder @ Cong Wang
This year, D-Robotics traveled the world with the team.
#Ludens AI
Founder @ Lijun Xue
Sewed the first piece of clothing for a robot myself with needle and thread. Fits well but kind of ugly, haha.
#Nuokeyuguang
Founder @ Xu Yao
A year of eating with my kid. Nothing makes me happier than my kid eating well and dressing well.
#Whale
Founder @ Shengtu Ye
Users first.
#Dealism
Founder @ Fang Huan
Made the headlines of a Latin American media outlet 18,000 kilometers away. The photo was casually snapped by a young colleague in the small garden behind the office. Plus all kinds of praise and likes from local users. Globalization still exists in the age of AI.
#Macaron
Founder @ Kaijie Chen
The last weekly meeting of 2025, running until the building lights went out. With the lights off, you can see each other's light more clearly.
#Final Round
Founder @ Michael
Sleeping in the office, dreaming of AGI.
#Mindverse
Founder @ Fangbo Tao
A weekend in March, right as the Second Me open-source project was taking off — a group of friends held a private board meeting at my place. I learned a phrase: "A CEO has infinite freedom."
#Linear Capital
Investment Team @ Tianyi Zhou
2025 is a watershed. To quote Whitebeard from One Piece: "There are no tickets for the old era on the ship to the New World."
#Linear Capital
Investment Team @ Can Zheng
Persistence is victory.
#Linear Capital
Investment Team @ Haitao Hu
The wind at the mountaintop is worth every switchback.
#Linear Capital
Investment Team @ Jun Yang
A few days ago, repairing an RV near Huangshan, I took the chance to visit the Huizhou Culture Museum and study the history of the famous Huizhou merchants of the Ming and Qing dynasties. Simply put: mountainous terrain, scarce farmland, too many people to survive on farming — they had to cross mountains and rivers to go out and do business, eventually building trade networks across the country and even overseas. Feels quite relevant today.
#Linear Capital
Founder @ Harry Wang
We gathered the founders of all our new investments this year. Make a bond & grow together. The spring river flows east; revel in life's joys.