- Biotech and physical AI startups raised fresh capital to advance clinical programs and next-generation robotics infrastructure
- New funding is accelerating HBV therapeutics, physical AI operating systems and embodied world models
AusperBio raises $120 million Series C to advance HBV therapy
Hangzhou-based biopharmaceutical company AusperBio (浩博医药) has raised $120 million in a Series C round led by a global strategic investor, with participation from new investor RA Capital Management.
Existing backers including Hankang Capital, Sherpa Healthcare Partners, InnoPinnacle Fund, Qiming Venture Partners, Yuanbio Venture Capital and CDH Investments VGC also participated.
The latest round brings AusperBio’s total funding since 2024 to $360 million.
Founded in 2019, the company develops differentiated oligonucleotide therapeutics and targeted delivery technologies, initially focusing on functional cures for chronic hepatitis B.
Its lead candidate, AHB-137, has shown positive clinical efficacy and is being positioned as a potential backbone therapy for a functional cure.
The new funding will accelerate AHB-137 toward commercialization and support the development of next-generation therapies around the program.
Orca AI closes Series A and A1 rounds to scale physical AI
Shanghai-based physical AI operating system developer Orca AI (松应科技) has completed A and A1 financing rounds totaling several hundred million yuan.
The rounds were led by CICC Capital and Hongshan Innovation Capital, with participation from Shang Finance, Aosheng, Focus Capital, Shanghai Angel Group, Fengyuzhu and Chobe Capital. Existing investors including Zhongxin Fund also increased their positions.
The latest financing marks the company’s third funding round in six months and will support further development of ORCA OS, compatibility with domestic chip ecosystems, developer-community expansion and large-scale deployment across industrial applications.
Founded in 2021, Orca AI develops ORCA OS, a physical AI operating system for collaborative training of robots in different forms.
The platform integrates scene construction, multiphysics simulation, synthetic data generation, algorithm development, parallel training and real-robot deployment, while supporting both Nvidia and AMD as well as major Chinese chip architectures.
The company has served nearly 100 central and state-owned enterprises, national robotics innovation centers and leading embodied AI companies.
InstAdapt secures $10 million seed round for embodied AI infrastructure
Shanghai-based embodied AI infrastructure startup InstAdapt (瞬适科技) has raised a $10 million seed round from Xiechuang Smart, V Fund, Pudong Venture Capital and Changshu Wuyue Angel Fund.
Founded in November 2025 and incubated by a ShanghaiTech University team, InstAdapt focuses on infrastructure for embodied world models.
The company aims to address the need for robots to repeatedly collect data when encountering new environments and tasks.
It has built an integrated pipeline spanning data production, physical asset generation, model training and robot deployment.
The new funding will be used to build physical AI data infrastructure, develop embodied world models and expand the core team.
