- Hydrogen energy, AI, biotech and robotics startups attracted new investment
- The capital will fund commercialization, manufacturing and global expansion
Marvel Tech raises nearly $74 million across two funding rounds
Marvel Tech (慕帆动力), a clean-energy engineering company, has completed back-to-back funding rounds totaling more than 500 million yuan ($73.78 million).
Its Series C was led by HongShan, with participation from Qiming Venture Partners, Envision-HongShan Carbon Neutrality Fund, C&D Emerging Industry Equity Investment, Fortune Capital, GL Ventures and Templewater.
Its earlier Series B was co-led by C&D Emerging Industry Equity Investment and Qiming Venture Partners, with Templewater also participating.
Founded by a Germany-trained team led by Lin Gang, the Shanghai-based company develops hydrogen-compatible gas turbines and industrial waste heat recovery power generation systems.
Its hydrogen-ammonia gas turbine and tri-fuel zero-carbon, low-NOx combustor can burn hydrogen, ammonia and natural gas without hardware modifications. Its flagship 8MW and 30MW turbines target industrial applications and AI data center (AIDC) power infrastructure.
The proceeds will fund a mass-production assembly center and a turbine testing facility, with the company targeting 1GW of annual production capacity by 2026.
Marvel Tech said booming demand for dedicated power generation at AI data centers, especially in North America, is creating a significant market opportunity.
Drug Farm closes first tranche of $55 million Series D
Biotech startup Drug Farm (药物牧场) has completed the first tranche of a $55 million Series D financing led by Shanghai Pudong Leading Area Investment Center and Shanghai Puxing Collaborative Private Equity Fund Partnership.
Other investors included Tukar Capital, Shenzhen Luohu Donghai Ruizhi Pharmaceutical Industry Investment Partnership and Keyuan Pharmaceutical.
Existing backers including BioVeda China Fund, WuXi AppTec, YD Capital, Jiashan State-owned Investment and Detong Capital also participated.
The proceeds will support its clinical and preclinical pipeline, global clinical development, regulatory filings and R&D expansion.
Drug Farm develops first-in-class therapies using its proprietary IDInVivo+ and MedChem5 platforms, which combine genetics and AI to identify and validate novel drug targets in living systems.
Its lead candidate, DF-003 for ROSAH syndrome, is among the first AI-developed first-in-class drugs to enter Phase III clinical trials, while hepatitis B candidate DF-006 has also reported promising clinical data.
NNB Nutrition bags nearly $30 million Series C+ round
Dietary supplement ingredient developer NNB Nutrition (纽邦生物) has raised nearly 200 million yuan ($29.51 million) in a Series C+ financing round led by China Life Private Equity Investment, with existing investor MX Capital also participating.
The latest financing comes less than six months after another funding round exceeding 100 million yuan. The proceeds will be used for product development and construction of a new manufacturing facility.
NNB has launched more than 40 proprietary functional ingredients and has a pipeline of over 100 products spanning sports nutrition, weight management, cognitive health and healthy aging.
It supplies more than 600 brands, including Nestlé, Unilever and PepsiCo, and operates its own formulation and biosynthesis plants.
The Nanjing-based company is also building an integrated manufacturing complex with annual capacity exceeding 10,000 tons after reporting revenue of more than 400 million yuan in 2025.
Tsing Standard completes Series B backed by automotive investors
Physical AI startup Tsing Standard (清研精准) has completed a Series B financing worth several hundred million yuan after closing two tranches in June.
The B2 round was led by Star Origin with participation from FAW Fusheng, while the B3 round was led by BAIC Capital with backing from Yulon Group and Industrial Fund under Sinomach.
Altogether, the Series B attracted six automotive industry investors, including Great Wall Motor Capital and Shaanxi Automobile Capital.
Founded in 2018 as a Tsinghua University spinout, the Suzhou-based company develops physical AI technologies for industrial applications.
Its AI inspection and simulation products have been deployed by leading automakers and battery manufacturers, serving more than 100 enterprise customers in over 30 countries.
The company plans to expand deployments with Sinomach and other industrial partners while jointly establishing embodied AI testing and certification standards with the National Robot Testing and Evaluation Center in Guangzhou.
Robopoet raises nine-figure pre-Series A for AI companion devices
AI companion hardware startup Robopoet (珞博智能) has secured a pre-Series A round worth about 100 million yuan, led by Meridian Capital and Fibocom, with participation from Tuya Smart and existing investors HongShan and GSR Ventures.
The funding will support product development, expansion of its product lineup and overseas growth, while Fibocom and Tuya Smart will provide support in connectivity, AI cloud services and global operations.
Founded in 2024 and headquartered in Shanghai, Robopoet develops emotionally interactive AI hardware. Its flagship AI companion device, Fuzozo, launched in China in July 2025 and had sold nearly 300,000 units domestically by June 2026.
Powered by the company’s proprietary emotion model, memory system and companion engine, the product combines AI hardware, virtual pets and collectible toys for emotional companionship.
In May 2026, Fuzozo debuted on Japan’s Makuake crowdfunding platform, raising more than 35 million yen ($215,876) within 72 hours and topping the platform’s daily rankings.
