Led · Series A · Aug 2025

Haivivi develops AI-powered companion toys that use large-language models, multi-agent interaction, long-term memory, emotion recognition, and adaptive learning to enable role-playing, multilingual conversation, and co-created stories. In June 2024 it launched BubblePal, described as the world’s first AI toy in its category; BubblePal sold over 10,000 units in its first month and has exceeded 200,000 total units sold. The company has secured licenses for well-known IPs including Ultraman, Peppa Pig and Nailong and pursues a dual IP strategy of partnering with top-tier licenses while signing artists to co-create originals. Haivivi was recognized by iResearch as the brand with the highest online sales of AI toys in China. It plans to use newly raised funds for R&D of new product series, building a talent pipeline, and expanding market channels. This week Haivivi is launching the CocoMate series, a second-generation, detachable-form AI toy billed as the first with an end-to-end voice model to increase expressiveness and anthropomorphic emotional capabilities.

Led · Series B · Feb 2024

Kuafood is a Chinese restaurant chain that focuses on fried/barbecue skewers. The business operates as a restaurant chain serving skewered fried items. According to the article, Kuafood secured 500 million yuan (about $69.5 million) in a Series B financing. The round was co-led by China-based venture capital firm Joy Capital. The article does not provide operating metrics, future plans, past rounds, or additional financial details.

Led · Equity · Sep 2022

Qidi Technology (Shanghai) Co., Ltd. is a Shanghai-based startup that focuses on creating smart glasses. The company designs wearable smart-glasses intended to safeguard a trouble-free journey worldwide for users. Qidi was founded in December 2021. The company recently completed a financing event and plans to deploy capital to accelerate growth. Management says the funds will be used to expand operations and scale the business. No operating metrics were disclosed in the article.

Participated · Series B · Jan 2022

Starfield develops plant-based meat analogs and other plant-protein foods using plant protein technology and refined enzymatic cross-linking to imitate muscle fibers and produce whole-cut products. Its portfolio spans ground meat, sausages, meatballs, patties, steaks, hams and specialty items such as a black pepper-crusted plant beef made from non‑GMO soybeans. The company operates a B2B2C model, selling self-branded products via third-party retailers; it has partnered with over 100 brand owners and is available in more than 14,000 outlets including Heytea, Luckin Coffee, 7-Eleven, FamilyMart, Lawson, Dicos and Alibaba’s Hema. Starfield says it has submitted close to 30 patent applications and collaborates with academic partners including Beijing Technology & Business University, Jiangnan University, and Wageningen University & Research to improve texture and flavor. It is building its first commercial-scale production facility in Xiaogan, Hubei, which it says will produce hundreds of formats and reduce manufacturing and logistics costs to lower end prices versus animal-derived meat. Near-term plans include launching new product lines such as braised beef, chicken thigh steaks and pork chops while expanding R&D, hiring, marketing and brand-building. Starfield develops plant-based ground meat products for multiple culinary applications and holds a patent for a seaweed protein. The company says it is the only Chinese next-gen alternative meat venture with its own R&D and manufacturing capability and has R&D partnerships with Beijing Technology and Business University, Shenzhen University and Jiangnan University. Starfield has secured product collaborations or menu intents with more than 20 local and international restaurants, including Papa Johns (170 outlets), Nayuki’s Tea (300 branches) and Element Fresh (38 restaurants). Its products are already used in dishes such as a Future Meatball Pizza at Papa Johns and a Green Star Burger at Nayuki’s. The company targets China’s roughly 400 million millennials as a primary market. Investors describe the wider China market and potential policy shifts after the coronavirus crisis as a possible catalyst to accelerate plant-based adoption.

Participated · Series B · Jan 2022

Starfield develops plant‑based protein foods and meat alternatives, including its flagship Master Black Pepper Plant‑based Beef with a whole‑meat texture made from non‑GMO soybeans, zero cholesterol and no added nitrites or preservatives. The company’s product range and first self‑built factory capability cover hundreds of SKUs such as mince, sausage, meatball, meat pie, steak and ham. Starfield sells primarily via a B2B2C model and has partnered with over 100 brands and placed products in 14,000+ shops, including collaborations with Dicos, Luckin Coffee, FamilyMart and HeyTea and distribution in channels like FamilyMart, Lawson, 7‑11, ole and Fresh Hema. R&D is a core focus: Starfield says it is at a “Starfield 4.0 Technology” stage, is working with teams from Beijing University of Technology and Industry, Jiangnan University and Wageningen University, and has or is applying for nearly 30 patents. Future plans include further refining texture and flavour and launching marinated beef, whole chicken fillet and whole pork fillet, while expanding channels and brand presence. Starfield is a Shenzhen-based food tech that develops plant-based meat alternatives using seaweed protein. Its product lineup includes more than 20 plant-based meats, from burger patties to mince, and the company says it launches about four new products each month. Starfield operates its own R&D and works with a manufacturing and packing facility in Hongchang owned by its founding shareholders CP Group and Sunnong Development. The startup completed a US$10M Series A and plans to use proceeds to build a formula R&D laboratory in Shenzhen to support further product launches. It has forged partnerships with more than 20 foodservice chains and expects over 2,600 restaurant outlets to serve Starfield dishes by October. Beyond foodservice, Starfield plans co-branded retail product launches with supermarket chains and says it has longer-term global ambitions.