Autumn's First Whispers, Wanwu's Harvest | Vital Monthly

Vital Monthly is Oasis Capital's monthly update column.

It tracks the latest developments across our portfolio companies and Oasis itself, capturing the rhythm, structure, and trends behind the headlines.

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WAIC 2026 | From Capability Demos to the Real World

From July 17–20, during the World Artificial Intelligence Conference, companies across the Oasis ecosystem made a collective appearance.

Sudu Tech made its debut at a major domestic exhibition, showcasing its embodied intelligence system built on a Sim2Real approach. Through multi-robot coordination, complex grasping, and precision assembly tasks, the company demonstrated the generalization capabilities of its robot models from simulation training to real-world deployment, continuing to explore pathways toward general physical intelligence.

Sudu Tech co-founder and President of the General Physical Intelligence Research Institute suho was invited to deliver a keynote speech titled Physical Intelligence: From Hallucination to Reality.

MiniMax brought its next-generation native multimodal foundation model M3 and multimodal generation model H3 to WAIC, showcasing the latest progress from base models to agent infrastructure. M3 supports unified multimodal understanding, million-level context windows, and agent capabilities. H3 further advances integrated generation across text, image, video, and audio, while products like MiniMax Code continue to expand complex task execution and intelligent agent application scenarios, pushing general model capabilities into actual workflows.

Spirit AI showcased its latest progress in embodied foundation models and robot productization. Its Moz1 robot, powered by Spirit v1.6, completed long-horizon task demonstrations including desktop organization and gashapon interaction. The newly introduced Moz2 explores more natural human-robot interaction forms for home and commercial service scenarios, further advancing embodied intelligence from model capability validation toward real-world applications. During the event, founder and CEO Fengtao Han gave an exclusive media interview, sharing his latest perspectives on the development stages of embodied intelligence, data scaling, and paths to robot industrialization.

LimX Dynamics presented its humanoid robot platform and embodied intelligence technology system at WAIC, highlighting the latest advances in autonomous robot movement and interaction. On-site, the company demonstrated its full-size humanoid robot Luna and embodied intelligence development platform TRON 2, covering the complete pipeline from robot motion control and VLA model training to simulation validation and real-world deployment. The company also showcased COSA, its humanoid robot intelligence system, continuing to explore embodied intelligence infrastructure from motion generation to cognitive decision-making.

VAST brought its AI 3D foundation model Tripo and world model Project Eden to WAIC, demonstrating its technical system from 3D content generation to interactive world-building. During the conference, VAST CTO Ding Liang gave an exclusive interview with CGTN on industry application trends in AI 3D technology. The company continues to refine its one-stop creation platform Tripo Studio, covering 3D modeling, texture generation, and part completion workflows, while exploring through Project Eden the construction of sustainably evolving, real-time interactive digital worlds.

Inxbot showcased its embodied intelligence hardware infrastructure at WAIC, presenting a full-stack product matrix covering data collection, dexterous manipulation, joint modules, and power systems. The company released its second-generation inner-rotor joint module and demonstrated its EC-Gloves data collection glove and full-joint force feedback dexterous hand, further completing the hardware closed loop from data collection and model training to robot execution, supporting embodied intelligence's progression from technical validation to scaled deployment.

Additionally, in the AI infrastructure and data foundation layer, Infinigence AI demonstrated heterogeneous computing scheduling, inference optimization, and industry application capabilities. CEO Lixue Xia proposed that infrastructure must evolve alongside AI's transition from Model Scaling to Agentic Scaling, and announced the "Front Store, Back Factory, One Center" strategy. Co-founder Guohao Dai was named this year's "Cloud Sail Award · Rising Star." At its booth, Qingmao Intelligence showcased the progress of Xuanwu CLI in domestic computing adaptation, inference optimization, and one-click deployment, continuing to reduce the cost of deploying open-source models on domestic chips. OriginFlow released PULSE V0.2 and Origin Data, proposing the Human Data Scale Up and Human-to-Robot Transfer pathways, exploring a Human-Centric embodied data production paradigm through neural motion interfaces. AeroBand and EigenFlux also participated in exhibition displays and exchanges around consumer-grade intelligent hardware and AI for Agent Communication respectively, together presenting the technical chain from underlying computing power and data production to agent collaboration and frontier applications.

LimX Dynamics | Closes Nearly $200 Million Pre-IPO Round, Accelerating Scaled Deployment of Embodied Intelligence

LimX Dynamics announced the completion of a nearly $200 million Pre-IPO financing round, bringing its total funding over the past six months to $400 million. Proceeds will be primarily directed toward brain-body fusion technology R&D, scaled deployment of humanoid robots, and global market expansion. The company has already secured orders for thousands of robot units, with over half coming from overseas markets.

Centered on industrializing embodied intelligence, LimX Dynamics continues to refine its full-stack technical system covering robot hardware, model training, and agent systems, forming a three-layer architecture of "whole-body motion foundation model — VLA/WAM — embodied intelligence operating system COSA." The open-source engineering foundation FluxVLA Engine, developed in partnership with Alibaba Cloud, already supports full-body mobile manipulation, model training, and real-robot deployment for humanoid robots, lowering the barrier to embodied model development. Robots equipped with the COSA system, such as LimX Oli, continue to advance multimodal interaction and autonomous task execution capabilities, and recently hosted a delegation led by a UN Under-Secretary-General for a demonstration.

VAST | Closes Over 1 Billion RMB Series A3 Round, Takes Center Stage at SIGGRAPH 2026

VAST (Sanqi Wanwu) completed a strategic Series A3 round exceeding 1 billion RMB, continuing to invest in AI 3D foundation models, world models, and global ecosystem development.

During SIGGRAPH 2026, VAST Chief Scientist Yanpei Cao took the main stage for a keynote, using the "Teapot Test" to propose a new standard for AI 3D: generated results must be not merely "viewable," but possess real geometry, editable topology, and physical properties — capable of entering game pipelines, 3D printing workflows, and robot simulation processes.

Furthermore, five VAST papers were accepted to Technical Papers, and the company received the Real-Time Live! top honor, Best in Show, for its real-time interactive 3D asset generation project. VAST also co-hosted a world model hackathon and industry events with World Labs, continuing to push AI 3D from content generation toward usable assets and interactive worlds.

Lxson | Named to GEI China Potential Unicorn List, Closes Nearly 500 Million RMB Pre-A Round

Lxson was named to the GEI China Potential Unicorn Enterprises Research Report 2026 published by Great Wall Strategy Consulting, becoming one of the representative companies in the home embodied intelligence sector. Since its founding a year and a half ago, the company has pursued full-stack self-development across body structure, embodied general models, VLA, joint modules, lightweight robotic arms, and consciousness bionic models, filing over 60 original patents. The company previously completed a Pre-A round of nearly 500 million RMB, bringing total funding to 1 billion RMB. It has now established a product matrix covering the home humanoid robot M1, tracked robot W1, full-size humanoid robot Jupiter, and home collaborative robot N1, with total orders exceeding 30,000 units and revenue in the first half of 2026 up 600% year-over-year, continuing to advance the scaled deployment of home embodied intelligence products.

Spirit AI | Building Physical AI Data and Model Closed Loop, Legato Research Accepted to RSS 2026

Research from the team of Spirit AI co-founder Yang Gao, Learning Native Continuation for Action Chunking Flow Policies, was accepted to the top robotics conference RSS 2026. The research addresses continuity in embodied intelligence model action generation, using training mechanism optimization to enable robots to naturally transition from existing action states to subsequent behaviors, reducing pauses and action switching during execution. Across five real-world manipulation tasks including stacking bowls, pouring liquids, and pick-and-place, Legato achieved improvements in both execution efficiency and trajectory smoothness, offering a new technical pathway for stable robot deployment.

Meanwhile, Spirit AI continues to build out Physical AI data and model infrastructure. Pre-training lead Junliang Guo shared Spirit AI's data closed-loop system: a hierarchical data architecture built from internet video, ego-centric data, the self-developed wearable collection device uDAS, and teleoperation data, combined with the Spirit Omni Model and data platform to drive iterative model training and real-robot deployment.

MiniMax | Open-Sources Full-Modality Generation Model H3, Upgrades MiniMax Code 2.0

MiniMax officially open-sourced its general full-modality generation model H3.

The model can uniformly understand multimodal context spanning text, image, video, and audio, and generate video at up to 2K resolution, up to 15 seconds in length, with native dual-channel audio. With task generalization at its core, H3 employs technologies including Contextual Omni Representation, H3-VAE, H3-Omni Transformer, and In-context Regeneration to bring image generation, video generation, sound generation, and reference editing into a unified framework, providing more complete content production capabilities for commercial scenarios in advertising, e-commerce, gaming, and product design.

MiniMax also updated MiniMax Code 2.0 for desktop, reconstructing the conversation execution, state management, and tool-calling pipeline to improve execution stability for long-horizon complex tasks, and enhancing workflow experiences for file editing and chart delivery. The product further integrates financial and enterprise data capabilities, enabling the complete pipeline from multi-source information retrieval and analysis to professional report generation, continuing to push agents from single-point task execution toward more stable professional work collaboration.

OriginFlow | Exploring Physical AI Action Foundation, Completing Embodied Intelligence Data Closed Loop

OriginFlow continues to advance Physical AI underlying data capabilities, proposing the NeuroScale technical paradigm and releasing the PULSE foundation model V0.2 and Origin Data full-modality sample data, exploring the transformation of neural electromyography, first-person visual, and IMU information into Human Tokens, building a new action foundation for embodied models.

On the data industrialization front, the company established a strategic partnership with Baidu,打通数据采集、处理、标注、模型训练与场景验证链路；同时联合北京国际大数据交易所、西门子与光轮智能，共同构建覆盖真实人类交互数据、工业设备数据与虚拟仿真数据的多元供给体系，并探索数据确权、合规流通与收益分配机制，推动具身智能数据从规模化生产走向可流通、可训练和可落地。

Boli Technology | 3D Printing Manufacturing Capabilities Support Product Design Innovation

The GEEXFOOT GC series sneakers, manufactured using Boli Technology's ultra-high-speed 3D printing solution, won the iF Design Award 2025. This award reflects not only product design innovation but also validates Boli Technology's technical capabilities in materials, structural design, and digital manufacturing.

Leveraging its super-intelligent cloud factory, Boli Technology has built a complete manufacturing system covering materials R&D, parametric lattice design, and ultra-high-speed integrated printing, accumulating over 10,000 material formulations and achieving complex structure production without molds in a single print, helping brands shorten product development cycles and increase design freedom. As the 3D-printed footwear industry shifts from technology-driven to design-driven, Boli Technology continues to provide consumer brands with high-efficiency, high-freedom digital manufacturing infrastructure, accelerating the scaled application of 3D-printed products.

Oasis Ecosystem | Yang Gao and Yanpei Cao Named to MIT Technology Review TR35

Spirit AI co-founder and Chief Scientist Yang Gao and VAST co-founder and Chief Scientist Yanpei Cao were named to the MIT Technology Review 2025 China "35 Innovators Under 35" list.

Yanpei Cao has long driven technical innovation in 3D reconstruction, neural rendering, and generative AI, pushing 3D generation from static appearance toward structurally usable, drivable assets, and further exploring world models for spatial intelligence and physical AI. Yang Gao has consistently focused on reinforcement learning and embodied intelligence, previously proposing the EfficientZero algorithm and the "Data Pyramid" training framework, exploring scalable pathways for robots to understand the physical world and complete complex manipulation tasks. The selection of both scientists reflects the continued accumulation of fundamental research in AI 3D, world models, and embodied intelligence within the Oasis ecosystem.

Oasis Events | Invited to 2026 WAIC Young Partners Party & Cloud Sail Award Night

During WAIC 2026, Oasis was invited to the "2026 WAIC Young Partners Party & Cloud Sail Award Night." The event gathered over 150 young scientists, entrepreneurs, industry representatives, and investors to witness the announcement of the new class of Cloud Sail Award winners. Oasis founding partner Jinjian Zhang joined 2025 WAIC Cloud Sail Award recipient and Shanghai Artificial Intelligence Laboratory young scientist Conghui He, 2026 Cloud Sail Award recipient and Tsinghua University School of Artificial Intelligence assistant professor and Li Qing Intelligence founder Yiming Li, 2026 Cloud Sail Award recipient and Princeton University postdoctoral researcher Ling Yang, and 2026 Cloud Sail Award recipient and Qwen algorithm scientist Zihan Qiu for a roundtable discussion on From Laboratory to Real World: The Paradigm Leap of AI Scientists, exploring how young researchers can cross boundaries between scientific research, entrepreneurship, and industry practice, and providing more exchange and connection for moving technical achievements from the lab into real-world applications.

Oasis Events | Three Consecutive Days of AI Research Events During WAIC

From July 18–20, Oasis partnered with Research AI+, Xiaohongshu, and other institutions and platforms to launch the "2nd AI Researcher Summer Party" series, organized around three themes: AI for Science, LLM & Agent, and Embodied AI, inviting nearly 20 frontline researchers and entrepreneurs to share. Representatives from Oasis portfolio companies EigenFlux, LimX Dynamics, and others also participated in on-site technical discussions.

The three events drew over 350 participants total, spanning profiles from university labs, foundation model companies, embodied intelligence researchers and practitioners, and investors, enabling industry explorers across different directions to fully exchange and collide ideas before consensus has formed.

Oasis Honors

Named to "ChinaVenture 2026 Top 10 Early-Stage VC Firms in the Yangtze River Delta Region" and "PEDaily 2026 Top 100 Investors."

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