Latest news with #BrainCo
Yahoo
6 days ago
- Business
- Yahoo
China Neuralink Rival Seeks Pre-IPO Funds at $1.3 Billion Value
(Bloomberg) -- BrainCo, a startup aiming to compete with Elon Musk's Neuralink, is in talks to raise funds at a valuation of more than $1.3 billion ahead of a potential initial public offering in Hong Kong or mainland China. PATH Train Service Resumes After Fire at Jersey City Station Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Seeking Relief From Heat and Smog, Cities Follow the Wind The company founded in 2015 by Harvard alumnus Han Bicheng is in negotiations to secure about $100 million in pre-IPO financing, people familiar with the matter said. The startup has begun preparing documents for a market debut, though it hasn't decided on venue or other details, the people said, asking to remain anonymous discussing private plans. BrainCo, or Zhejiang Qiangnao Technology Co., is one of 'Six Little Dragons' that garnered acclaim this year as among the country's most advanced technology innovators. Based in the affluent eastern city of Hangzhou like fellow dragon DeepSeek and e-commerce leader Alibaba Group Holding Ltd., BrainCo is developing bionic limbs and technologies for human brains to control computers. It isn't the only fledgling Chinese firm hoping to take on Neuralink. Earlier this year, Shanghai StairMed Technology raised 350 million yuan ($48.7 million) in Series B funding and launched the country's first clinical trial for invasive brain-computer interfaces, local media outlet Yicai reported. BrainCo's founder told the South China Morning Post in April he was exploring an expansion to Hong Kong. Discussions around financing and an IPO remain in flux and the details could change depending on market conditions. But BrainCo's financing underscores the growing investor interest in a new generation of startups aiming to shake up the tech sector and pioneer advances in spheres from artificial intelligence to robotics. Representatives for the startup didn't respond to a request for comment. China's largest venture capital houses are tapping the market for at least $2 billion in new funds, re-engaging with the country's startups in a signal of renewed attention on areas like AI. Together, they represent a wave of fundraising that hasn't been seen among Chinese VCs for years. It's unfolding as global investors reassess the country's startup landscape and broader economy, which are showing signs of revival after years of Covid-era stagnation and regulatory headwinds. Much of that resurgent interest can be traced to the rise of breakout AI stars like BrainCo, DeepSeek and Manus, which has galvanized local entrepreneurs. The Hangzhou Six also includes Game Science — developer of the hit game Wukong — Deep Robotics, Unitree Robotics and Manycore. AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Russia's Secret War and the Plot to Kill a German CEO Government Steps Up Campaign Against Business School Diversity What Happens to AI Startups When Their Founders Jump Ship for Big Tech How Podcast-Obsessed Tech Investors Made a New Media Industry ©2025 Bloomberg L.P.
Yahoo
6 days ago
- Business
- Yahoo
China Neuralink Rival Seeks Pre-IPO Funds at $1.3 Billion Value
(Bloomberg) -- BrainCo, a startup aiming to compete with Elon Musk's Neuralink, is in talks to raise funds at a valuation of more than $1.3 billion ahead of a potential initial public offering in Hong Kong or mainland China. PATH Train Service Resumes After Fire at Jersey City Station Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Seeking Relief From Heat and Smog, Cities Follow the Wind The company founded in 2015 by Harvard alumnus Han Bicheng is in negotiations to secure about $100 million in pre-IPO financing, people familiar with the matter said. The startup has begun preparing documents for a market debut, though it hasn't decided on venue or other details, the people said, asking to remain anonymous discussing private plans. BrainCo, or Zhejiang Qiangnao Technology Co., is one of 'Six Little Dragons' that garnered acclaim this year as among the country's most advanced technology innovators. Based in the affluent eastern city of Hangzhou like fellow dragon DeepSeek and e-commerce leader Alibaba Group Holding Ltd., BrainCo is developing bionic limbs and technologies for human brains to control computers. It isn't the only fledgling Chinese firm hoping to take on Neuralink. Earlier this year, Shanghai StairMed Technology raised 350 million yuan ($48.7 million) in Series B funding and launched the country's first clinical trial for invasive brain-computer interfaces, local media outlet Yicai reported. BrainCo's founder told the South China Morning Post in April he was exploring an expansion to Hong Kong. Discussions around financing and an IPO remain in flux and the details could change depending on market conditions. But BrainCo's financing underscores the growing investor interest in a new generation of startups aiming to shake up the tech sector and pioneer advances in spheres from artificial intelligence to robotics. Representatives for the startup didn't respond to a request for comment. China's largest venture capital houses are tapping the market for at least $2 billion in new funds, re-engaging with the country's startups in a signal of renewed attention on areas like AI. Together, they represent a wave of fundraising that hasn't been seen among Chinese VCs for years. It's unfolding as global investors reassess the country's startup landscape and broader economy, which are showing signs of revival after years of Covid-era stagnation and regulatory headwinds. Much of that resurgent interest can be traced to the rise of breakout AI stars like BrainCo, DeepSeek and Manus, which has galvanized local entrepreneurs. The Hangzhou Six also includes Game Science — developer of the hit game Wukong — Deep Robotics, Unitree Robotics and Manycore. AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Government Steps Up Campaign Against Business School Diversity Russia's Secret War and the Plot to Kill a German CEO What Happens to AI Startups When Their Founders Jump Ship for Big Tech How Podcast-Obsessed Tech Investors Made a New Media Industry ©2025 Bloomberg L.P.
Bloomberg
6 days ago
- Business
- Bloomberg
China Neuralink Rival Seeks Pre-IPO Funds at $1.3 Billion Value
BrainCo, a startup aiming to compete with Elon Musk's Neuralink, is in talks to raise funds at a valuation of more than $1.3 billion ahead of a potential initial public offering in Hong Kong or mainland China. The company founded in 2015 by Harvard alumnus Han Bicheng is in negotiations to secure about $100 million in pre-IPO financing, people familiar with the matter said. The startup has begun preparing documents for a market debut, though it hasn't decided on venue or other details, the people said, asking to remain anonymous discussing private plans.
Malaysian Reserve
13-07-2025
- Entertainment
- Malaysian Reserve
China Academy of Art's "Bamboo Rhyme" Debuts at Expo Osaka: Zhejiang Week Installation Weaves a Symphony of Nature and Humanity Through Bamboo
HANGZHOU, China, July 13, 2025 /PRNewswire/ — On July 12, the Zhejiang Week of Expo 2025 Osaka commenced at the China Pavilion. As the official emblem of the event, the large-scale installation artwork 'Bamboo Rhythm' was inaugurated in the plaza fronting the China Pavilion. This installation centers on bamboo, sourced from Anji, Zhejiang—the birthplace of the 'Two Mountains' theory—as its core medium. It creatively integrates the ancient art of Chinese calligraphy with Zhejiang's thriving advancement in artificial intelligence, embodying Zhejiang's practices of harmonious coexistence between humanity and nature within the broader context of Chinese modernization. Professor Shen Hao, Vice President of the China Academy of Art, introduced the installation, saying, 'By bringing Bamboo Rhyme to Osaka, we hope the audience will both feel the profound and powerful force of traditional Chinese culture and see the limitless possibilities for future development. The installation itself is a compelling interpretation of the theme: how to realize the creative transformation and innovative development of traditional culture.' 'We seek to fully showcase Zhejiang's dual characters as 'Poetic Jiangnan and Dynamic Zhejiang', a region where profound cultural heritage converges with innovative technological vitality. As a key cradle and hub of China's digital economy and artificial intelligence innovation, Zhejiang, in recent years, has fostered world-class cutting edge enterprises such as BrainCo and Unitree Robotics. ' Summarized by Professor Han Xu, vice president of China Academy of Art. Lu Tao, Chief Designer of the installation, shared that 'Bamboo Rhyme'closely echoes the core theme of the China Pavilion at Expo 2025 Osaka. The design seeks a natural medium that not only reflects the essence of Chinese cultural spirit, but also captures the distinct character of Zhejiang. As a highlight of Zhejiang Week, the 'Bamboo Rhythm'installation —through its unique artistic language and technological interaction—offers the world a window into Zhejiang's innovative practices and profound reflections on preserving cultural roots, embracing a technological future, and exploring harmonious coexistence between humanity and nature. It is a cultural landmark at the Expo Osaka, bridging tradition and modernity, facilitating exchange between China and the world.
South China Morning Post
12-07-2025
- Business
- South China Morning Post
Economy main focus at Hong Kong leader's meetings with advisers ahead of policy address
Hong Kong's leader held meetings with his advisers, including a mainland Chinese economist and two tech experts from a Hangzhou start-up known as 'Six Little Dragons', ahead of his annual policy blueprint to gauge views on how to maintain the city's status amid growing geopolitical tensions. The John Lee Ka-chiu-led lunch meetings took place between Wednesday and Friday, marking the first official gathering of the Chief Executive's Council of Advisers, following the appointments of Han Bicheng, CEO of BrainCo, which specialises in brain-machine interfaces, Wang Xingxing, founder and CEO of humanoid robot maker Unitree Robotics, and Zhu Min, ex-deputy director of the International Monetary Fund. The government said on Saturday that the council conducted in-depth discussions under three major themes – economy, technology, and regional and global ties – for Lee's fourth policy address scheduled for September and the city's overall development. Regarding the economic advancement and sustainability, the council exchanged views on how to consolidate Hong Kong's position as an international financial, shipping and trade centre amid geopolitical changes and economic restructuring. They also discussed ways to speed up the development of the Northern Metropolis, and proactively attract capital and talent to drive innovation and technology growth in Hong Kong. The Northern Metropolis blueprint aims to turn 30,000 hectares (74,132 acres) of land into a new engine for economic growth with a population of about 2.5 million and around 650,000 jobs. The regional and global collaboration discussion focused on leveraging the national development to strengthen ties with countries along the Belt and Road, while also exploring emerging markets, such as the Middle East, Asean, South America, and Central Asia, for new business opportunities.
