- Chinese startups in CNS drugs, flying robots, eVTOLs and deep-sea equipment secured fresh funding
- New capital will accelerate clinical development, product rollout and commercialization
Drugmaker Neushen raises over $80 million in Series B funding
Shanghai-based central nervous system (CNS) drug developer Neushen (纽欧医药) has completed a Series B financing round of more than $80 million, led by a major strategic industry investor.
B Capital, Legend Capital, Matrix Partners China, TruMed Investment and Shanghai SSCI Leading Private Equity Fund Management also participated, while existing investor Lilly Asia Ventures followed on with additional investment.
Neushen will use the proceeds to expand its CNS drug pipeline and accelerate global clinical development.
The company focuses on innovative small-molecule drugs for central nervous system disorders, including psychiatric and neurodegenerative diseases. Its three core programs are all currently in clinical development.
NS-079 has entered its first-in-human trial in Australia. NS-136 is undergoing a Phase II trial in China for acute schizophrenia, while its Phase II trial targeting agitation associated with Alzheimer’s disease has received regulatory approval in both China and the US.
The company’s third core program, NS-041 for focal epilepsy, is currently recruiting patients for a Phase II clinical trial.
Differential Robotics closes Series A2 round to advance drone tech
Hangzhou-based flying robot startup Differential Robotics (微分智飞) has completed a Series A2 financing round worth hundreds of millions of yuan, led by Puhua Capital.
Highlight Capital, Yangtze River Delta Digital Intelligence Culture Fund, 5Y Capital, Shenzhen Capital Group, Aplus Fund, Meridian Capital, TH Capital, Long Capital and Baidu Venture also participated.
The company plans to use the funding for product development, talent recruitment and expansion into industry-specific applications, with a focus on strengthening its capabilities in embodied and swarm intelligence for flying robots.
Founded in 2024, Differential Robotics is led by Gao Fei (高飞), a post-90s doctoral supervisor at Zhejiang University and recipient of China’s National Science Fund for Excellent Young Scholars and National Science Fund for Distinguished Young Scholars.
The company focuses on autonomous navigation and decision-making for flying robots operating in unknown environments without GPS or communications.
Its product lineup includes the P300 intelligent exploration drone and the P300 Pro flying robot for industrial applications. The P300 can operate autonomously in challenging environments including mines and underground rail systems.
eVTOL startup Dreamfly secures Series A+ financing round
Hangzhou-based hybrid tilt-rotor eVTOL developer Dreamfly (追梦空天科技) has completed a Series A+ financing round worth hundreds of millions of yuan, setting a Chinese record for a single financing round in the hybrid eVTOL sector.
The round was jointly led by Hangzhou Industrial Investment Group and its subsidiary Hangzhou Low-altitude Industry Development Co., Ltd. Xiaoshan Venture Capital, Caitong Capital, buhuo ventures, QHFZ Capital Management and SDIC Taikang Trust participated, while existing investor Civil Aviation Investment Fund joined the round for the fourth consecutive time.
Dreamfly’s cumulative financing has now approached 800 million yuan ($119 million).
The company is led by founder Cai Wenkuan (蔡文宽), a Tsinghua University graduate with nearly two decades of experience in the aviation industry. The company is developing hybrid tilt-rotor eVTOL aircraft, a segment it says remains largely untapped in China’s emerging low-altitude aviation industry.
In June, Dreamfly established its technology headquarters at the Xiaoshan Economic and Technological Development Zone, making it the first eVTOL manufacturer to set up its headquarters in Hangzhou.
The latest funding will be used to obtain airworthiness certification for its cargo aircraft, build mass-production capabilities, develop its passenger-carrying model and strengthen its industrial supply chain.
Gongzhi Marine Equipment raises nearly $15 million in angel round
Suzhou-based high-end marine-equipment developer Gongzhi Marine Equipment (工至海洋) has completed an angel financing round of nearly 100 million yuan ($15 million), setting a new record for a single angel round in China’s deep-sea equipment sector.
Investors include CSSD Land, Leaguer Financial, Yinfeng Private Equity, Smaller is Bigger Venture Fund and Harbin Engineering University Asset Management.
The company will use the proceeds to support product mass production, market expansion, R&D and patent development, as well as the growth of its core team.
Founded in 2024, Gongzhi Marine Equipment is led by founder Guo Chunyu (郭春雨), who has spent 23 years in the shipbuilding and marine-equipment industry. He previously participated in the development of the Jiaolong manned deep-sea submersible and aircraft-carrier propulsion systems.
The company has developed what it describes as the world’s first integrated underwater robot combining exploration and operations, called Hetu.
The robot uses a coupled propulsion system combining biomimetic undulating fins with a vector pump-jet system and has completed operational tests at depths of up to 1,000 meters.
Gongzhi has signed an exclusive supply agreement with Canadian company APG-Neuros for core components used in deep-sea mining and has also established a strategic partnership with the 704 Research Institute of China State Shipbuilding Corp.
