First Snow, Clear Skies After Frost — Good News as Autumn Departs | Z News

Z News is ZhenFund's news column.

The first snowflakes are drifting down, and good news is pouring in too. Here's our November monthly report — an invitation to witness the growth of our portfolio companies and what's new at ZhenFund. Double espresso strength, just for you.

Portfolio News

ZhenFund early-stage project "Recurrent AI" named to the China Digital Finance Unicorn List (2024)

At a special session of the 2024 Financial Street Forum themed "Technological Innovation and Cultivation of New Quality Productive Forces," the Beijing Financial Street Research Institute and Beijing Frontier Institute of Regulation and Supervision Technology jointly released the China Digital Finance Unicorn List 2024. Recurrent AI was selected for its leading AI technology, solid financial industry foundation, and high-growth market potential.

The China Digital Finance Unicorn List, published by the Beijing Financial Street Research Institute and Beijing Frontier Institute of Regulation and Supervision Technology, aims to promote industry development through exemplary enterprises. Now in its second year, the 2024 list covers six tracks, with ten companies selected for each. After rigorous review, Recurrent AI was named one of the unicorns in the AI track.

ZhenFund angel project "Feyu Tech" Rosetta Large Model earns AI Large Model Industrial Application Capability Assessment Certificate

Feyu Tech's self-developed "Rosetta Large Model" has passed professional evaluation by the Industrial Internet Testing Laboratory of the China Academy of Industrial Internet, receiving the AI Large Model Industrial Application Capability Assessment Certificate from the General AI and Industrial Integration Innovation Center.

Shenzhen TV reports on ZhenFund early-stage project "Syrius" — AMR solution wins high recognition from Japan's logistics leaders

Shenzhen TV's Greater Bay Area Reception Room recently featured a special report on Syrius's successful expansion into Japan: targeting demand for logistics robots in the Japanese market, Syrius has gained strong recognition from leading Japanese logistics companies through its clear advantages in hardware, software, and services with its AMR (autonomous mobile robots), establishing an early foothold and riding the wave.

The report noted that after deploying Syrius AMRs, STOCKCREW's Chiba Dock logistics facility in Chiba Prefecture achieved intelligent picking and cost reduction, becoming one of Japan's most efficient warehouses.

Finnish Prime Minister's business delegation visits ZhenFund early-stage project "Flexiv"

On October 31, the Finnish Prime Minister's business delegation visited Flexiv's Shanghai office, accompanied by representatives from the Consulate General of Finland in Shanghai, the Shanghai Municipal Science and Technology Commission, and the Minhang District Science and Technology Commission.

The visit was hosted by the Shanghai Municipal Science and Technology Commission, co-organized by Business Finland, and undertaken by the Greater Bay Area Zero Innovation Park. The delegation was led by Mika Klemettinen, Head of Innovation Business at Business Finland and Trade and Innovation Consul at the Consulate General of Finland in Shanghai.

Noah Barker, Flexiv's Overseas PR Manager, received the delegation and demonstrated adaptive robot technology and innovative solutions in the showroom. Both sides engaged in productive discussions on product details, application scenarios, and future development.

ZhenFund angel projects "Datagrand" and "Laiye" named to JiQiren 2024 Best Enterprise AI Products Top 20

On November 2, JiQiren unveiled its 2024 annual rankings. Datagrand and Laiye were recognized for their outstanding performance in AI-powered enterprise services — Datagrand's intelligent knowledge management system and Laiye's large model-driven digital workforce platform both made the "2024 Best Enterprise Service AI Products Top 20."

The selection combined internal assessment with external expert review, involving data verification, in-depth analysis, and on-site inspections of applicant companies and products. The Top 20 were chosen based on technological innovation, market expansion, and growth potential; products were further evaluated on intelligence level, service efficiency, and user reputation.

ZhenFund angel project "Horizon Robotics" wins BYD "Best Partner Award," setting a benchmark for intelligent EV collaboration in China

On November 2, BYD held its 2024 New Energy Vehicle Core Suppliers Conference, where Horizon Robotics received the "Best Partner Award" — the only intelligent driving solution provider to earn this honor. The award recognizes Horizon Robotics's outstanding contributions in intelligent driving technology and mass production capabilities. Kai Yu, Founder and CEO of Horizon Robotics, attended to accept the award and shared the partnership's history and philosophy as a representative supplier.

Since establishing strategic cooperation in 2021, BYD and Horizon Robotics have achieved platform-level mass production collaboration across the Journey family of chips. To date, multiple BYD models have been equipped with Horizon Robotics's intelligent driving solutions, including the Song L, Song Pro DM-i, Qin L, and Seal 06. The strong partnership between BYD and Horizon Robotics has created a model for intelligent new energy vehicle collaboration in China, helping build a more robust and high-quality intelligent vehicle industry ecosystem and accelerating the intelligent transformation of China's automotive industry.

ZhenFund angel project "MioTech" appears at the 7th China International Import Expo

On November 5, 2024, the 7th China International Import Expo (CIIE) opened in Shanghai. With the theme "New Era, Shared Future," this year's expo welcomed 3,496 exhibitors from national and enterprise pavilions, representing 77 countries and international organizations and 129 countries and regions. Premier Li Qiang attended the opening ceremony and related events.

Hong Kong Chief Executive John Lee and his delegation attended the opening ceremony and toured the exhibition. MioTech was invited as an outstanding enterprise representative to take a commemorative photo with Chief Executive Lee.

ZhenFund angel project "Zhenpu Photonics" wins 2024 "China Core" Outstanding Technology Innovation Product Award

The 2024 China Microelectronics Industry Promotion Conference and the 19th "China Core" Outstanding Product Awards ceremony were held November 6–8 in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin. As one of the most influential events in China's integrated circuit industry, the "China Core" awards showcase the latest products, technological innovations, and application achievements, drawing broad industry attention and support.

Zhenpu Photonics won the "Outstanding Technology Innovation Product" award for its self-developed ADS6311 ultra-high-resolution pure solid-state LiDAR large-array SPAD chip.

ZhenFund angel project "SpacemiT" wins 19th "China Core" Outstanding Technology Innovation Product Award

On November 7, the 2024 China Microelectronics Industry Promotion Conference and the 19th "China Core" Outstanding Product Awards ceremony were held in Zhuhai. Hosted by the China Center for Information Industry Development, the "China Core" awards, established in 2006, have become a key barometer for China's integrated circuit products and technology development and are widely recognized as one of the industry's most prestigious honors.

SpacemiT's RISC-V AI CPU chip, SpacemiT Key Stone® K1, won the "Outstanding Technology Innovation Product" award — the first RISC-V high-performance computing chip to receive this recognition. Sun Yanbang, the company's Founder and President, was invited on stage to accept the award.

Flexiv CEO Shiquan Wang Named to Shanghai Association for Science and Technology's New Technology Evaluation (Expert) Committee

On October 28, 2024, the Shanghai Association for Science and Technology held its Technology Evaluation Working Committee meeting and qualification review session, formally establishing the new committee. Flexiv Co-founder and CEO Shiquan Wang was appointed as an expert member.

Xellar Biosystems Wins L'Oréal 2024 Big Bang Award

On November 6, 2024, L'Oréal hosted the 2024 BIG BANG Beauty Tech Innovation Awards ceremony at its main exhibition booth in the Consumer Goods zone of the 7th China International Import Expo (CIIE).

Xellar Biosystems took home the Big Bang Award in the "Future Science" track, which recognizes emerging technologies with strong potential for industrial application. The win affirms the company's ongoing work driving conceptual, technological, and institutional innovation in the cosmetics industry.

Intellifusion Showcases "Low-Altitude Economy + AI" at CIIE 2024

The China International Import Expo, the world's first national-level exhibition themed around imports, represents China's major commitment to opening its market to the world. In its seventh year, CIIE introduced a low-altitude economy exhibition zone for the first time, alongside the 2024 "Future Mobility · Global Development" forum. Intellifusion, the only AI company invited to the forum, shared its vision for the future of low-altitude economy powered by AI.

Horizon Robotics SuperDrive Wins Golden Lingxuan Award

From November 8 to 9, the 2024 New Automotive Technology Cooperation Exchange and 9th Golden Lingxuan Award Ceremony was held in Kunshan. Horizon Robotics won the Forward-Looking Intelligent Driving Gold Award for its Horizon SuperDrive™ (HSD) full-scenario intelligent driving solution.

The Lingxuan Awards are widely respected as an authoritative honor in China's auto parts industry, known for rigorous standards and strict evaluation. This year saw record-breaking participation, with HSD standing out from 91 entries thanks to its leading algorithm architecture and consistently human-like driving experience nationwide. The award follows previous wins for Journey 2 and Journey 5 computing solutions, and represents continued recognition of Horizon Robotics' integrated hardware-software capabilities and algorithmic leadership.

Moresec Named to 2024 Power Industry Open Source Typical Practice Case Collection

The China Electricity Development Promotion Council recently released its 2024 Power Industry Open Source Typical Practice Case Collection. Moresec's project, "Open Source Software Risk Detection System for a Provincial Power Grid Supply Chain," deployed at a provincial power enterprise, was selected after joint review by expert committee members.

Star.Astro and Tsinghua University's GRID Collaboration Successfully Launch GRID-11B Payload

At 12:03 PM Beijing time on November 11, 2024, the Lijian-1 Y5 carrier rocket launched from the Dongfeng Commercial Space Innovation Test Zone, successfully placing 15 satellites including the Jilin-1 Platform 02A03 satellite into their designated orbits. The Jilin-1 Platform 02A03 satellite carries the GRID-11B payload, jointly developed by Tsinghua University and Star.Astro. Through innovative design, the payload enables 24-hour in-orbit observation of gamma-ray bursts, enhancing the scientific output capacity of the GRID program.

LynkVertx Named Among Top 10 Global V2G Innovators of 2023

StartUs Insights, a global data science platform, previously released its 2023 Global Top 10 V2G Innovators to Watch report. LynkVertx (listed as "Link-U Tech" at the time) was the only Chinese company selected, recognized for its breakthroughs in vehicle-to-grid (V2G) technology.

StartUs Insights is a renowned data science company headquartered in Austria, specializing in analyzing and tracking tech companies and emerging technology trends. Its rankings and industry reports are trusted and adopted by over 1,500 international industry leaders, carrying significant authority worldwide.

Multiple ZhenFund Portfolio Companies Named to 2024 Forbes China Innovative Enterprises 50

Forbes China recently unveiled its 2024 China Innovative Enterprises 50 list, expanding its coverage from 8 sectors last year to 12 this year. ZhenFund portfolio companies Moonshot AI, Orienspace, EHang, and Vastai Technologies were honored on the list.

Multiple ZhenFund Portfolio Companies Named to Oxford Intelligence's 2024 China AI Startup Value Creation 30

Oxford Intelligence recently released its China and Global AI Startup Value Creation 30 rankings. ZhenFund portfolio companies Momenta, Datagrand, Moonshot AI, Flexiv, SmartMore, Colossal-AI, and Cardinal Operations were selected for the "2024 China AI Startup Value Creation 30."

The rankings are built on Oxford Intelligence's valuation model, developed from nearly a decade of research by Oxford University technical teams. The model integrates original technical valuation utility theory with 8 vertical databases and 24 industry-customized algorithms, providing entrepreneurs, investors, and innovation managers with unprecedented precision, objectivity, efficiency, and accessibility in valuation services.

Multiple ZhenFund Portfolio Founders Named to 2024 Hurun China Under35s

The Hurun Research Institute, in partnership with Nantong Innovation Zone, recently released the 2024 Nantong Zilang Lake · Hurun China Under35s, recognizing entrepreneurial pioneers under 36 in China.

ZhenFund portfolio founders honored include: Ziliang Yang, Co-founder and CEO of CellX; Li Shen, Founder of To Summer; Jun Tan, Founder and CEO of Helio Communications; Shu Liu, Co-founder of SmartMore; Zhaohui Zhang, Founder and CEO of Aiyou Intelligent; and Zhilin Yang, Founder of Moonshot AI.

Haidai Hydrogen and MioTech Attend COP29

On November 11, the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) officially opened in Baku, capital of Azerbaijan.

On November 13, the side event "Hydrogen Energy for Climate Action: Toward a Net-Zero Clean Energy Future" was successfully held at the China Pavilion of COP29 in Baku, Azerbaijan. Changsheng Yao, CEO of Haidai Hydrogen, joined five other leading hydrogen energy experts — including Fuyuan Yang, professor at Tsinghua University, and Lingyong Pan, deputy general manager of Sinopec Oilfield Equipment Corporation — for an in-depth dialogue on China's hydrogen development experience, technological innovation, and industry prospects.

On the afternoon of November 18, another China Pavilion side event — "Green and Low-Carbon Industry and Building in the Context of Carbon Neutrality: Technological Breakthroughs and Policy Dialogue on the Path to 3060" — was successfully held. Co-hosted by Shanghai Jiao Tong University, the World Federation of Engineering Organizations' Committee on Engineering and Environment, the National Center of Technology Innovation for Green and Low-Carbon Building, and the Rocky Mountain Institute, with support from China Construction Technology Group, Agora Energy Transition, the Yangtze River Delta Carbon Neutrality Industry-University-Research Alliance, and the 21st Century Agenda Management Center. Tao Liu, co-founder and CTO of MioTech, was invited to attend.

ZhenFund Angel Project "Intellifusion" Wins China's First Low-Altitude Economy Award

On November 15, the inaugural China Low-Altitude Economy Industry Expo and Summit Forum was held in Shenzhen. The event presented the first-ever National Low-Altitude Award, with Intellifusion receiving the Low-Altitude Innovation Breakthrough Award. This honor recognizes companies that have achieved breakthrough innovations in the low-altitude economy, driving advances in technical equipment, innovation platforms, and application scenarios.

ZhenFund Angel Project "Intellifusion" Chip Project Passes National Ministry of Science and Technology Major Program Review

Recently, Intellifusion's project under the national AI science and technology major program — "Key Standard Research and Chip Verification for Neural Network Processors in AI Applications" — successfully passed review by the Ministry of Science and Technology.

The project made breakthrough progress by adopting domestic advanced process technology to complete the design and tape-out of a neural network processor chip, validating China's path toward domestic AI chip production and providing important support for the healthy development of the nation's AI industry.

ZhenFund Angel Project "Orienspace" Appears at the 15th China Airshow

From November 12 to 17, the 15th China International Aviation and Aerospace Exhibition was held in Zhuhai, Guangdong. This year's exhibition attracted 1,022 companies from 47 countries and regions, with seven themed exhibition areas including low-altitude economy, commercial aircraft industry, civil aviation industry, and commercial space.

Orienspace showcased its full product matrix, including the Gravity series rockets, Yuanli series engines, and Hongli series space information equipment, drawing significant attention from government officials, domestic and international professional visitors, and media.

ZhenFund Early-Stage Project "XtalPi" Appears at China Pharmaceutical Industry Development Conference

On November 16, the 2024 China Pharmaceutical Industry Development Conference and Shanghai International Biopharmaceutical Industry Week opened at the Zhangjiang Science Hall in Shanghai. XtalPi's AI robotics experimental workstation cluster was recognized as a global cooperation model case in the pharmaceutical industry, while its self-developed chemical synthesis, detection, and analysis integrated machine was selected for the industry innovation achievement exhibition.

On the opening day, Shanghai Party Secretary Jining Chen, Minister of Industry and Information Technology Jinzhuang Jin, Vice Minister of National Health Commission Yixin Zeng, and Shanghai Deputy Party Secretary and Mayor Zheng Gong, among other key attendees, watched a live demonstration of the AI robotics experimental workstation. They also heard XtalPi's presentation on the company's commitment to independent innovation, leveraging core technologies including artificial intelligence, quantum physics, and robotics to reduce costs and improve efficiency in innovative drug R&D, ultimately enhancing drug accessibility. The leaders encouraged the company to stay focused on technological innovation and developing new quality productive forces.

ZhenFund Angel Project "Laiye" Named to Forbes China "Globalization Leaders TOP30"

Recently, Forbes China announced its "2024 Forbes China · Going Global" series selections, with Laiye honored as one of the "Globalization Leaders TOP30."

ZhenFund Early-Stage Project "AccelTech" Appears at IC China 2024

From November 18 to 20, the 21st China International Semiconductor Expo (IC China 2024) was held at the Beijing National Convention Center. AccelTech showcased its flagship products and full range of testing solutions. Gang Wu, founder and chairman of AccelTech, was invited to deliver keynote speeches at both the Advanced Packaging Innovation Development Forum and the Semiconductor Industry Frontier and Talent Development Conference, gathering with partners across the semiconductor supply chain for collaboration and exchange.

ZhenFund Angel Project "Datagrand" Case Selected for World Internet Conference's "Top Ten Yangtze River Delta AI+ Innovation Achievements"

Recently, as a featured event of the permanent host venue of the 2024 World Internet Conference Wuzhen Summit, the Yangtze River Delta Integrated Digital Civilization Co-Construction and Sharing — 2024 Digital Yangtze River Delta Development Conference was held in Wuzhen. At the conference, the "Top Ten Yangtze River Delta AI+ Scenario Innovation Achievements" were announced. Datagrand's large model knowledge base was selected for its outstanding innovation capabilities. Daqi Ji, CTO of Datagrand, was invited to attend and accepted the award on behalf of the company.

ZhenFund Angel Project "Moresec" Wins "Golden Wisdom Award" for AI Innovation Application

Recently, the 2024 (8th) China Cybersecurity and Information Industry "Golden Wisdom Award" selection, hosted by Information Security and Communications Privacy Magazine and co-organized by the National Key Laboratory of Secure Communication, the Defense Science and Technology Industry Cybersecurity Innovation Center, the Zhongguancun Hua'an Critical Information Infrastructure Security Protection Alliance, the Zhongguancun Trusted Computing Industry Alliance, and the Zhongguancun Cybersecurity and Informatization Industry Alliance, announced its results. Moresec's software supply chain security governance based on large AI language models stood out for its technological innovation and practical application, winning the "Golden Wisdom Award" for AI Innovation Application of the Year.

ZhenFund Early-Stage Project "StarTest" Successfully Launches Multiple Payloads, Unlocking AI+ Scenario Validation

At 10:00 AM Beijing time on November 27, 2024, LandSpace's Zhuque-2 improved variant rocket (ZQ-2E Y1) lifted off from the Dongfeng Commercial Space Innovation Test Zone at LandSpace's liquid oxygen-methane rocket launch pad, successfully delivering the Guangchuan-01 and Guangchuan-02 test satellites into their designated orbits.

The Guangchuan-01 and Guangchuan-02 satellites carry GRID-12B and GRID-13B payloads jointly developed by Tsinghua University and StarTest, as well as two StarTest space-based computing intelligent payloads, Xingxi-02Pro-S30. These will conduct technical validation for "AI+communications" and "AI+space science." With this launch, StarTest's total number of on-orbit products has exceeded 21.

ZhenFund News

ZhenFund Ranked on Diyi Xinshang's Q3 2024 China's Most Active Institutions List

On November 13, Diyi Xinshang released its Q3 2024 China's Most Active Institutions series rankings, with ZhenFund appearing on four lists: "Most Active Early-Stage Investment Institutions TOP30," "Investment Institutions IPO List TOP10," "Most Active Investment Institutions in AI TOP20," and "Most Active Investment Institutions in Consumer TOP10."

ZhenFund's Managing Partner Yusen Dai Named to FOF Weekly's "2024 100 Youth Leaders in Investment"

FOF Weekly recently announced its "2024 100 Youth Leaders in Investment" honorees, with ZhenFund Managing Partner Yusen Dai making the GP Youth Leaders TOP 100 list.

ZhenFund Founding Partner Anna Fang Named to 2024 Top 30 Angel Investors

On the morning of November 20, 2024, the opening ceremony of the 18th annual Global Entrepreneurship Week China (GEW) was held at the Zhengli Campus of Fudan University's School of Management in Shanghai's Yangpu District. The event was hosted by the Shanghai Technology Entrepreneurship Foundation for Graduates (STEFG, also known as EFG).

STEFG, the organizer of GEW China, partnered with ChinaVenture to unveil the 2024 Top 30 Angel Investors list. ZhenFund Founding Partner Anna Fang was honored with a spot on the list.

By Stone

Edited by Wendi

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