The First Newsletter of Autumn | Linear Quarterly

Autumn begins today — the season when all things turn to harvest. Over the past months, Linear Capital's portfolio companies have flourished through the summer and are now maturing, ready to meet new opportunities and challenges as cycles shift.

We reviewed the past quarter's developments across Linear's portfolio, selecting highlights from funding rounds, product launches, strategic partnerships, and industry recognition to share:

Funding Updates

▍EdgeRobotics (大界机器人)

Closed a new funding round led exclusively by CICC Capital. The company independently developed China's first construction-industrial software, RoBIM, which bridges robotic production with building information modeling (BIM) to enable flexible manufacturing.

▍White Rhino (白犀牛)

Raised RMB 200 million in its Series B led by SF Express, with Xin Yuan Auto as co-investor. Proceeds will fund new product R&D, marketing of existing products, and supply chain optimization. White Rhino became the first autonomous driving company to receive investment from both a leading express delivery firm and a commercial vehicle OEM.

▍Whale (帷幄)

Closed over $60 million across its C1 and C2 rounds to explore strategic partnerships, accelerate product deployment, build enterprise-grade AI solutions, and expand into China, Southeast Asia, North America, and global markets for innovative enterprise solutions.

▍D-Robotics (地瓜机器人)

Raised $100 million in its Series A to accelerate building out its embodied intelligence ecosystem, injecting strong momentum into that strategic push.

▍Hongjing Drive (宏景智驾)

Received follow-on investment from existing shareholders. The company focuses on autonomous driving technology and solutions, actively exploring R&D and commercialization of hydrogen-powered zero-carbon intelligent trucks, and has established deep partnerships with multiple domestic and international automakers and industry partners.

▍Deepsight Medical (迪视医疗)

Closed nearly RMB 100 million in its Series A, primarily to accelerate clinical trials for its general-purpose microsurgical robot and commercialize its ophthalmic surgical robot, further cementing its technical leadership and microsurgical robotics product ecosystem.

▍Tashi Intelligent (它石智航)

Raised $122 million in its angel+ round. Post-funding, the company will further expand its ecosystem and scenario resources and launch a global top-talent recruitment program to build a more dynamic and sustainably competitive organization.

▍GritWorld (粒界科技)

Closed its Series B3. Proceeds will fund native AI upgrades to its 3D graphics engine GritGene, as well as R&D in embodied intelligence and world-model simulation training, multimodal intelligent human-computer interaction, and further commercialization across verticals including intelligent cockpits, terminal graphics, and spatial intelligence.

▍Green Carbon Synthetic Energy (绿碳合成能源)

Closed nearly RMB 100 million in its Pre-A round. Funds will build its first self-operated factory and supplement working capital; upon production, the facility will reach annual SAF capacity in the thousands of tons.

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Product Progress

▍Horizon Robotics (地平线)

Horizon's next-generation entry-level active safety vehicle computing platform, Journey 6B, successfully powered on in one attempt. From chip power-on to first image output took just 23 minutes, setting a new industry speed record for intelligent driving platform bring-up. The mid-tier Journey 6E/M are already in mass production across multiple mainstream vehicle models, while the high-tier Journey 6P will debut in mass production on Chery Automobile vehicles later this year. This marks the full-series maturity of the Journey 6 lineup, accelerating intelligent driving for all through efficient computing infrastructure.

▍Manycore Tech (群核科技)

Manycore's recently released open-source dataset InteriorGS topped the trending charts on HuggingFace, the world's largest AI open-source community, with NVIDIA's Nemotron-Post dataset following close behind. Also on the charts was another Manycore open 3D dataset, InteriorAgent — clear evidence of worldwide developer attention and validation.

▍Deep Principle (深度原理)

Deep Principle published research in the top chemistry journal Journal of the American Chemical Society (JACS), pioneering a novel workflow algorithm called LLM-EO that leverages large language models' intrinsic knowledge and reasoning capabilities to directly guide generative design of functional molecules.

▍Whale (帷幄)

Whale unveiled a major upgrade to "Huisheng" (绘声) and launched its next-generation smart employee badge. Huisheng serves as an enterprise-grade AI audio analysis hub, redefining enterprise audio intelligence through real-time transcription, multilingual recognition, and scenario analysis — precisely tailored for sales, customer service, interviews, meeting collaboration, and management use cases.

▍Yrobot (远也科技)

Yrobot globally launched its "PowrKnee" knee exoskeleton, inspired by the rock-climbing ability and force structure of the blue sheep (Pseudois nayaur). With ergonomic integrated design and AI-optimized algorithms, it intelligently recognizes movement intent during uphill climbing and stair ascent to actively provide support and lift. Priced under RMB 10,000 and weighing less than 1 kg, it has already secured 3,000+ purchase commitments across multiple European and American countries.

▍Tongdun Technology (同盾科技)

Tongdun adopted a fully open-source code strategy, opening its Data4Test (Dunce) platform's underlying technology to the world. Its leading declarative design and full-scenario coverage, combined with open-source accessibility and community support, deliver significant technical advantages in lowering testing barriers, improving collaboration efficiency, supporting complex scenarios, and enabling flexible scalability.

▍Rokid

The Rokid Glasses, an AI+AR device co-developed by Rokid and Lens Technology, rolled off the production line at Lens Technology's Xiangtan facility. As the world's first consumer-grade AI+AR glasses to achieve scaled mass production, the product — backed by 250,000 global pre-orders and full supply chain localization — marks China's entry into a new phase of commercial explosion in AI eyewear terminals.

▍Lightin (光粒科技)

Lightin, a global leader in holographic waveguide technology and AR smart glasses, announced a deep strategic partnership with leading Chinese fashion eyewear brand LOHO to jointly launch the world's first AR smart sports glasses. Centered on "making sports smarter and technology more human," the product redefines the "sports + smart wearables" experience.

▍EHang Holdings Limited (亿航智能)

EHang's unmanned electric vertical take-off and landing (eVTOL) aircraft EH216-S successfully completed its first unmanned passenger flight in Indonesia, a new milestone. This flight represents a significant step in EHang's international market commercialization push, laying solid groundwork for advancing commercial aerial mobility in Indonesia.

▍Quanying Technology (全应科技)

Quanying successfully delivered China's first biomass co-firing intelligent control project — the Huzhou Zhili Changhe ADMC thermoelectric intelligent control system. Partnering with Changhe Thermoelectric, Quanying not only solved control challenges from high biomass fuel volatility but also achieved outstanding results: 80% improvement in oxygen stability rate, 95% NOx compliance rate, and 1.26% improvement in energy efficiency — setting a new benchmark for intelligent transformation in biomass co-firing thermoelectric enterprises.

▍ShiFang Technology (十沣科技)

ShiFang released its 2025R1 industrial simulation software suite, introducing a new generation of independently developed industrial simulation tools covering structural mechanics, fluid dynamics, acoustics, heat transfer, and multidisciplinary optimization — alongside over ten benchmark application cases demonstrating how simulation technology helps enterprises achieve product innovation, efficiency leaps, and cost optimization across automotive engineering, high-end equipment, intelligent manufacturing, electronics, and humanoid robotics.

▍DHForce (黑马原力)

DHForce's 800th mass-produced MPS (Mobility Power Supply) mobile charging robot, the "G30 Fubao," officially rolled off the line. From first unit to 800th delivery, this milestone marks a qualitative leap in production capacity and etches the innovative "mobile energy + intelligent charging" model into the record of Chinese technology enterprise progress.

▍Guandata (观远数据)

With years of deep expertise in retail and consumer sectors, Guandata serves 400+ leading retail and consumer enterprises including Unilever, 3M China, Sephora China, ANTA Group, Genki Forest, and Mixue Ice Cream & Tea. Drawing on profound industry insight and benchmark case experience, Guandata recently published the Retail and Consumer Industry BI Practice Case Collection, aggregating 20 leading enterprise case studies to help companies anchor growth engines amid uncertainty.

Industry Partnerships

▍RIVR

Swiss robotics company RIVR (formerly Swiss-Mile) announced a strategic partnership with US logistics technology firm Veho, launching a pilot project in Austin, Texas. The initiative deploys RIVR's self-developed wheeled-legged robots to optimize the most challenging segment of e-commerce delivery — the "last 100 yards" from vehicle to doorstep.

▍Bot Auto

Bot Auto partnered with Steves & Sons, a Texas door manufacturer with over 150 years of history, and began testing Bot Auto-modified Freightliner trucks for autonomous driving alongside its logistics management service provider J.B. Hunt Transport Services. The collaboration aims to optimize factory-to-customer transportation and improve logistics planning and execution efficiency.

▍D-Robotics (地瓜机器人)

D-Robotics announced it will collaborate with iMotion, Luxshare Precision, Morning Network Technology, Huaqin Technology, and Jinmai Electronics to build robot controllers based on the RDK S100 series intelligent computing platform, aiming to provide customers with more mature and reliable hardware-software integrated intelligent robot solutions. This partnership will push the industry from "small-batch prototyping" toward "scaled mass production," accelerating intelligent robot deployment across diverse scenarios.

▍Tezign (特赞)

Yili Group partnered with Tezign to build a content asset management system. Based on Tezign's content production module and integrated AI technology, it created a full-scenario intelligent editor covering images, graphics, and video, effectively improving content production efficiency. As Yili's long-term partner, Tezign will continue empowering the dairy benchmark with content + AI to help Yili lead the content digitalization wave.

▍Sensors Data (神策数据)

At the Huawei Developer Conference, Sensors Data founder & CEO Wenfeng Sang delivered a speech titled "From Data-Driven to Knowledge-Driven — Ascend AI Empowering Digital User Operations." Sang stated that knowledge engineering is core to AI implementation; Sensors Data will continue deepening its partnership with Huawei Cloud to push user operations from "data-driven" to "knowledge-driven."

▍Raythink (睿维视)

Raythink and Geely established a joint innovation lab that will deeply integrate Geely's strengths in vehicle platform definition and system integration with Raythink's cutting-edge capabilities in optical display and algorithms, jointly tackling core challenges in large-scale HUD popularization and cost optimization.

▍ThinkingData (数数科技)

ThinkingData reached a strategic partnership with ONE Store, a major app distribution platform in the Korean Android market. Leveraging their respective core strengths in data intelligence and local ecosystem, the two will provide Chinese game companies entering Korea with full-chain support from data insights to localized operations, jointly driving efficient collaboration and value growth in the global gaming industry.

▍coScene (刻行)

coScene and Noematrix formally reached a strategic partnership, bringing together both parties' technical and resource advantages to deeply collaborate on high-quality data collection, management, and model training in real-world environments. Together they will tackle the challenge of obtaining physical world interaction data for embodied intelligence, accelerating rapid application and industrialization of embodied intelligence technology.

▍StoneWise (望石智慧)

Leading domestic AI drug discovery platform StoneWise formally partnered with Qilu Pharmaceutical's Shanghai R&D center. The collaboration will deeply integrate StoneWise's self-developed multimodal AI 3D molecular generative model to build a customized AI platform for small-molecule drug design for Qilu. Both parties will jointly accelerate early drug discovery, pushing new drug development toward greater efficiency and precision, and powering breakthroughs in innovative drug R&D.

▍Baiyi Huixin (柏意慧心)

Baiyi Huixin and Siemens Healthineers formally launched the Symphony Platform AI surgical simulation planning platform. Symphony Platform redefines precision intervention through three clinical paradigms: ultra-clear perception, intelligent decision-making, and data evolution.

Industry Recognition

▍Agile Robots (思灵机器人)

Agile Robots appeared at automatica 2025, the world's leading automation and robotics trade fair, joining audEERING, BÄR Automation, Franka Robotics, and idealworks to showcase seamless coordination across hardware, software, and process.

▍Rokid

Recently, the Chinese Embassy in the United States hosted the "My China Album — My Footprints in China" film premiere and Modern China Experience event. Chinese Ambassador to the US Xie Feng and his wife Wang Dan, Minister Qiu Wenxing, and over 200 guests from American society attended. The embassy specially arranged a technology showcase, using Rokid glasses as a representative product of "Intelligent Manufacturing in China" to give American friends a direct experience of the warmth of Chinese technological innovation.

▍Wance (湾测)

Wance's SG-P series four-level blind-zone-free safety light curtain became the first domestic product to pass dual UL certification — UL508 (industrial control equipment safety) and UL61496-1/-2 (electro-sensitive protective equipment safety). As one of the world's most rigorous safety certification systems, UL certification is known for high technical barriers, long testing cycles, and strong market recognition. This means Wance's products match international brand standards in both electrical safety and optoelectronic protection performance.

▍YuanSuan Technology (远算科技)

In the 2025 National Science and Technology Awards nomination process, following rigorous selection, Academician Guoliang Chen, YuanSuan's chief scientist and a towering figure in China's parallel algorithms and high-performance computing field, received nomination for the nation's highest science and technology honor — the State Preeminent Science and Technology Award. He became the only computer science expert among the 16 nominees this year.