「 核心是生产力社区。 」 文 ｜ 徐牧心 编辑 ｜ 陈之琰 「暗涌Waves」独家获悉，由前TikTok创意业务线核心成员，李政锦（Jin）与刘婧妍（Evy）一同创办的 NemoVideo 已于近期完成近千万美元的Pre-A轮和天使 轮融资，Pre-A轮为IDG资本独投，天使轮投资人包括锦秋资本、钛动科技和微光创投等机构投资人，以及前零一万物联创谷雪梅作为个人投资方。棕榈资本为 Pre-A轮的独家财务顾问。 NemoVideo从"爆款仿剪Agent工具"切入，聚焦于视频创作者用户，并以此为切入口，长期打造一个视频制作Agent平台，完成从工具到生产力社区的转变。未来 创作者们或将可以在社区平台上沉淀和交易自己的视频制作agent，并通过 Agent自动化生成内容。李政锦向「暗涌Waves」强调： NemoVideo在长期看来会更 像视频领域的Canva，核心在于"专注在生产力领域"。 尽管两位创始人都在2019年加入字节跳动，但并不是典型的"大厂高管转创业"。李政锦大一期间就开始探索创业，大三还在云南创办过教育NGO，之后才加入 字节，在TikTok Creative部门担任产品Leader，主导多个视频创 ...

这本应是一次常规的业绩披露，但在当下的时间节点，其意义远不止于财报数字。就在几天前，瑞幸CEO郭谨一在厦门企业家日大 会上公开表示，瑞幸"正积极推动重回美国主板上市进程"。 事后瑞幸官方向媒体补充说明："目前对于重返主板上市没有确定的时间表，现阶段的首要任务仍是践行业务战略、聚焦发展。"即 便如此，瑞幸所经历的巨大转折性，也足以在中国商业史上留下自己的名字。 "上岸"，这个在中国语境中充满"历劫重生"意味的词汇，或许将成为瑞幸的现实。 距离2020年那场风波已过去五年。五年间，瑞幸从纳斯达克退市，支付巨额罚金，几乎被市场宣判死刑。而今，它却奇迹般地"逆 风翻盘"：超29000家门店，成为实质上中国最大的咖啡连锁品牌；还把咖啡店开到新加坡、美国、马来西亚等国家；郭谨一更预 计，2025年公司全年营收将超500亿元人民币。 「 新消费，新投资，新叙事。 」 文 ｜ 陈之琰 11月17日，瑞幸咖啡在美股盘前发布其2025年第三季度财报。Q3总营收153亿元人民币（21.4亿美元），同比增长50.2%。净利润达 12.8亿元人民币，同比实现扭亏为盈。截至当日收盘，瑞幸粉单报40.00元美元/股，相比其2020年在粉单 ...

Core Viewpoint - Dealism, founded by former COO of Youzan, Leo, has raised $15 million in angel funding to develop AI-driven sales agents aimed at enhancing sales efficiency by automating repetitive communication tasks [2][3]. Group 1: Company Overview - Dealism was officially established in July 2023 and focuses on creating a conversational sales agent known as the "Vibe Selling Agent," designed for ease of use by individuals [3]. - The company targets small and medium-sized businesses in North America and Latin America, including independent creators and local service providers [3][7]. - The current team consists of fewer than 20 members, with plans for global expansion [3]. Group 2: Product Features - The Vibe Selling Agent is not a traditional chatbot; it is a purpose-driven conversational agent that understands user identity and objectives, facilitating effective communication with clients [5]. - The agent is designed to learn from user interactions, adapting to individual communication styles and sales processes over time [5][6]. - The product is expected to transition from a subscription and usage-based pricing model to a results-based payment system in the future [9]. Group 3: Market Potential - The global market for sales professionals is substantial, with approximately 150 million sales workers and an annual expenditure of $3-5 trillion in the labor market [11]. - The agent aims to fill the gap for small businesses that face high customer service demands but lack the resources for professional teams [8]. Group 4: Industry Trends - Leo predicts that vertical AI agents will become a new form of productivity, significantly altering organizational structures and reducing workforce needs while enhancing productivity [14]. - The evolution of AI is expected to lead to a "deconstruction and reconstruction" of workflows across various industries, resulting in smaller, more efficient organizations [14]. Group 5: Competitive Landscape - The success of Dealism will depend on deep industry knowledge, innovative product interaction design, and the ability to act quickly in a competitive market [18]. - Investors like Hillhouse Capital and Sequoia China are betting on the potential of vertical agents as a new productivity paradigm [18].

「 一次跃升。 」 文 ｜ 任倩 编辑 ｜ 陈之琰 「暗涌Waves」获悉，灵宇宙近日完成2亿元PreA轮融资，由上海国际集团旗下国方创新、国泰海通、广发信德、滴滴出行、拉卡拉 旗下考拉基金、润建股份等金融机构和上市公司参投，老股东超额追投。 灵宇宙是一家人机交互智能科技公司，其创始人顾嘉唯在创投圈早已为人所熟知。顾嘉唯本科毕业于同济大学，后被保送清华大学 读研，2010年毕业进入微软亚洲研究院，又在2014年加入百度深度学习研究院担任人机交互负责人。当年28岁的他是百度"少帅计 划"第一批AI人才，主导了BaiduEye、DuBike、DuLight等前沿AI产品研发。 2016年离开百度后，顾嘉唯一边在A股上市公司进行机器人产业布局，一边创办物灵科技。物灵科技因AI伴读机器人Luka卢卡走 红，在移动工具出海如火如荼的年份里，Luka却成为较早一波出海的消费级智能硬件。目前Luka在全球18个国家售出近千万台。 成立半年时，灵宇宙连融三轮，股东包括三七互娱、学大教育、商汤科技、耀途资本、线性资本、清华SEE资本、银杏谷资本等， 覆盖大模型、半导体、教育、娱乐等领域 。 2025年推出第一款产品随身AI终端 ...

Core Viewpoint - Source Code Capital has successfully raised a new growth fund with a total scale of $600 million, focusing on "AI+" and "Global+" sectors, indicating a strategic shift towards long-term, focused investments rather than rapid expansion [2][3]. Part 01: Why Continue "Growth Stage Investment" - The new growth fund will primarily invest in AI-related sectors, including AI2C/2P and the computing power supply chain, addressing critical issues in AI technology development and commercialization [6]. - The decision to focus on growth stage investments comes amid a challenging environment for such investments in China's primary market, where exit channels have been limited, leading to valuation mismatches [7]. - A significant catalyst for this strategy is the recovery of the Hong Kong IPO market, which has seen a substantial increase in financing and market activity, providing a healthier exit environment for growth investments [7][8]. - The fund's 25-year lifespan allows for a shift away from short-term IPO pressures, enabling a focus on long-term value and industry competitiveness [8][9]. Part 02: "De-Expansion" as a New Narrative? - The new fund's $600 million size is smaller compared to previous fundraising efforts, reflecting a strategic choice to prioritize quality over scale amid a declining market environment [10][11]. - This shift indicates a maturation of investment strategies, moving away from the race for larger fund sizes towards a focus on sustainable, long-term investment capabilities [11][12]. - The changes in strategy are particularly relevant for cautious North American LPs, as they seek to engage with top-tier Chinese GPs in sectors like AI and robotics, which present significant structural opportunities [12][13]. - The completion of this growth fund may signal a new phase for investment institutions in China's primary market, emphasizing discipline, focus, and patience in identifying valuable opportunities [13].

Core Insights - RoboParty, a full-stack open-source bipedal robot company, has completed a seed round financing of several million dollars, backed by prominent investors including Matrix Partners, Xiaomi, and Galaxy Universal [2][3][4] - The founder, Huang Yi, born in 2004, is one of the youngest entrepreneurs in the humanoid robot sector, emphasizing the importance of open-source development to foster collaboration and innovation [3][4][5] Company Overview - RoboParty is currently the only company in China focused on full open-source bipedal humanoid robots and is in the process of angel round financing [4] - The company aims to establish itself as a platform provider rather than just a hardware manufacturer, aspiring to set industry standards through open-source products [11][12] Development Strategy - The open-source approach is seen as a powerful tool for community engagement and technological democratization, allowing for rapid evolution and adaptation of humanoid robots [9][15] - The company is currently developing its second-generation robot, focusing on new materials and processes while addressing the challenges of quality, price, and user accessibility [28] Market Positioning - The founder believes that the current humanoid robot industry is at a relatively equal starting point, with the potential for new teams to emerge and compete effectively [26] - The emphasis on attracting high-potential young talent over traditional experience is a strategic choice to drive innovation and speed in development [25] Vision and Future Goals - The ultimate vision for RoboParty is to create a new paradigm of human-robot coexistence and to influence the industry with a set of standards and management practices [30] - The company aims to ensure that its impact and innovations continue to resonate beyond the founder's lifetime, similar to the legacies of influential figures like Steve Jobs and Elon Musk [29][30]

Core Insights - Monolith has successfully raised a total of $488 million, surpassing 10 billion RMB in assets under management (AUM) [2] - The fundraising achieved approximately 160% of its initial target, indicating strong investor interest [2] - The firm focuses on early-stage investments in artificial intelligence (AI) across various sectors, including AI applications, model infrastructure, and hardware [2][4] Group 1: Investment Strategy - Monolith's investment strategy is characterized by "stable targeting" and "precise hits," with a focus on AI-related projects [4] - The firm has maintained a high success rate with star projects, such as "月之暗面," which saw its valuation rise from hundreds of millions to several billion dollars within a year [4] - Monolith's early entry into various sectors, including AI chips and consumer hardware, has attracted significant attention from local limited partners (LPs) [4][5] Group 2: Market Position and Trends - There is a noticeable trend of early-stage investment in AI, with LPs preferring firms that are already operational and have proven strategies [5][6] - Monolith is positioned as a mid-sized boutique fund, distinguishing itself from both large established funds and newly formed ones [8] - Recent indications show a return of dollar LPs to the Chinese market, seeking opportunities in AI and related sectors [8] Group 3: Fundraising and Structure - Monolith's recent fundraising marks its first foray into RMB funds, transitioning from a purely dollar-based structure to a dual-currency model [11] - The RMB fund aims to capitalize on the local AI startup scene and is designed to support projects in hardware, robotics, and chips [11] - The firm emphasizes a "restrained expansion" approach to avoid the pitfalls of rapid growth that have affected other dollar funds in China [10] Group 4: Future Outlook - The fundraising success reflects a broader recovery in the primary market, with renewed interest from overseas funds in Chinese AI assets [12] - Monolith's ability to navigate these market changes will be tested as it approaches the fundraising period for its third main fund [12][13] - Despite reaching a significant milestone in AUM, Monolith's journey is just beginning, with future performance yet to be fully realized [13]

Core Viewpoint - The article discusses the emerging trend of startups creating personal brands and sharing their growth stories through various social media platforms, while highlighting the existence of numerous early-stage projects that remain underreported and lack mainstream attention [2][3][4]. Group 1: Company Summaries - **Kira.art**: An AI-driven photo editing and sharing community aimed at making creative expression easier for users. It features tools like Replace BG and Inpaint, focusing on a seamless editing experience [6][7][11]. - **WetuTalk**: An AI-based oral language teaching app targeting adult learners, set to launch its official version in November 2025. The team has extensive experience in online education and AI applications [12][13][15]. - **MosuMosu**: A personalized information platform for the next generation, focusing on youth culture and female-oriented content in Japan. The company aims to create a unique user experience [17][19]. - **阁楼 (Lofter)**: An online platform providing AI-driven psychological counseling services, with plans to fully transition to AI products by the end of 2024. The company aims to standardize and lower the cost of psychological services [21][23][26]. - **KYMS AI**: An AI recruitment platform that automates the hiring process through multiple AI agents, having served nearly 150 companies within three months of operation [28][29][33]. - **智电千帆 (Zhidian Qianfan)**: A company focused on AI-driven materials research and development, targeting advanced manufacturing sectors. It aims to enhance R&D efficiency and reduce costs [35][36][38]. - **Luvbotics**: A company developing innovative companion robots for homes, aiming to create a new living experience [39][40]. - **PaaaWOW**: A smart pet collar and community aimed at enhancing the relationship between pets and their owners, with plans for crowdfunding and sales in 2026 [42][43]. - **九间科技 (Jiujian Technology)**: An AI-driven personalized learning platform that tailors educational experiences to individual students, with plans to expand into international markets [46][47][49]. - **彼岸心智 (Beyond Mind)**: A company providing emotional recognition algorithms for smart wearable devices, with plans to launch a consumer-grade emotional hardware product by early 2026 [53][54][56]. - **枫缇 (Fengti)**: A sustainable skincare brand from Singapore focusing on direct-to-consumer sales, with plans for international expansion and product diversification [58][60]. - **Norman Walsh**: A historic British footwear brand aiming to become a global brand after being acquired, with plans to revitalize its product line and expand into new markets [62][64]. - **埃逻科技 (Ailo Technology)**: A company focused on AI-driven creative systems that allow users to create physical products through natural language interaction [66][70]. - **偶的科技 (Oud Technology)**: A company specializing in AI-driven scent customization and multi-sensory experiences, aiming to innovate the perfume industry [72][75].

Core Viewpoint - The article discusses the rebranding of Lightspeed China to Luminous Ventures, marking its 20th anniversary in the Chinese market, aiming to create more value for entrepreneurs and LP investors [2][3]. Company History - Luminous Ventures traces its history in the Chinese market back to 2006, shortly after other foreign VC firms like Sequoia and GGV entered China [4][5]. - Initially led by investor Cao Dayong, Lightspeed began its operations in China, with significant contributions from partners like Mi Qun and Han Yan, who joined in 2008 [5]. - In 2011, Lightspeed China was established as an independent entity focusing on early-stage investments, successfully investing in notable companies such as Meituan, Pinduoduo, and Xuchuang Technology [5]. - The firm transitioned to raising its first RMB fund in 2016, reflecting the growth of local LPs and a shift towards a dual-currency strategy, with fundraising reaching $560 million by 2019 [5][6]. Investment Strategy and Changes - By 2021, amidst a competitive VC landscape, Luminous Ventures raised a record $920 million, with a focus on hard technology and new energy sectors [6]. - The firm has adapted its investment focus over the years, with recent investments in companies like Yushu Technology and Zihua AI, indicating a deeper engagement in technology and industrial sectors [7]. - The rebranding to Luminous Ventures in 2023 symbolizes a strategic shift to better align with local market needs and emphasizes the firm's commitment to generating social impact through its investments [6][7].

Core Viewpoint - The article highlights the rapid growth and strategic positioning of the Chinese digital marketing service provider, Taitong Technology, under the leadership of its founder, Li Shuhua, emphasizing its focus on data-driven marketing and international expansion [2][5][41]. Group 1: Company Overview - Taitong Technology, founded in 2017, has become a significant player in the overseas marketing sector, managing an annual advertising budget of $7 billion for nearly 100,000 Chinese companies [2]. - The company has experienced substantial growth, with revenue increasing fivefold over four years and employee count rising from 300 to 1,500 [2][24]. - Li Shuhua, the founder, has a background in digital marketing and was an early employee at UC Browser, which provided him with insights into international marketing strategies [2][8]. Group 2: Business Strategy - Taitong Technology focuses on B2B marketing, distinguishing itself from traditional B2C models, and aims to serve as a bridge for Chinese companies entering international markets [3][6]. - The company is set to launch its first enterprise-level marketing agent, Navos, which will automate and optimize overseas marketing processes [4][35]. - Li Shuhua emphasizes a data-driven approach, believing in "data Darwinism," where the best strategies emerge through rigorous testing and adaptation [41][45]. Group 3: Market Position and Challenges - The company has positioned itself as a leader in the e-commerce marketing space, with over 60% of its revenue coming from this sector, particularly in apparel and consumer electronics [15][21]. - Taitong Technology has faced challenges in the past, including a failed attempt to build a comprehensive overseas service chain, which led to significant restructuring [17][19]. - The competitive landscape is evolving, with Li Shuhua expressing confidence in Taitong's ability to adapt and thrive amidst changing market conditions [6][52]. Group 4: Future Aspirations - Li Shuhua aims to build Taitong into a billion-dollar company, driven by a strong sense of national pride and a desire to represent Chinese enterprises on the global stage [9][30]. - The company is investing in AI technologies to enhance its marketing capabilities, with expectations that the upcoming Navos product will mark a new era for Taitong [36][38]. - Li Shuhua believes that the integration of AI and data analytics will significantly improve marketing efficiency and effectiveness, positioning Taitong for future growth [28][49].