Participated · Series D · Oct 2025

Founded in 2018 by Enyuan Yu, Neolix has become the world’s largest supplier of Level-4 autonomous delivery vehicles, known as RoboVans. The Beijing-based company has delivered more than 10,000 units to date, with a record 2,000 vehicles shipped in a single month and its X3 and X6 models each exceeding 4,000 deliveries. Neolix’s fleet operates in over 300 Chinese cities—Qingdao alone hosts 1,200 vehicles—and has collectively logged more than 50 million autonomous kilometers. Its proprietary technologies include the Neolix-VA AI navigation model, a map-free driving system, and a smart dispatch platform that coordinates vehicles, roads, and orders. Holding more than 60% market share in cumulative autonomous delivery shipments, Neolix serves over 300,000 clients across express delivery, fresh food, cold chain, and instant delivery sectors. The firm recently obtained the UAE’s first RoboVan license, signaling rapid international expansion plans. Proceeds from the latest funding will be funneled into algorithm advancement, new product development, service-network upgrades, and global growth initiatives.

Led · Series B · May 2024

Hysata develops a new type of electrolyser featuring an electrolysis cell coupled with a simplified balance of plant to produce green hydrogen. The company intends to scale manufacturing capacity at its Wollongong, New South Wales facility and pursue gigawatt-scale production. Hysata plans to use the recent funding to expand production and further develop its technology. Led by CEO Paul Barrett, the company emphasizes high efficiency, intrinsically low capex, and a mass-manufacturable design to lower the levelised cost of hydrogen. Hysata currently employs roughly 75 staff and aims to grow to more than 200 employees over the next couple of years while expanding its footprint across multiple continents. Hysata has developed a redesigned hydrogen electrolyser that eliminates gas-bubble formation and cuts electrical resistance, claiming around 95% efficiency versus ~75% for current technologies. The company says the design greatly reduces cooling needs and can produce green hydrogen at well below the competitive target of $2 per kilogram. Hysata spun out of research at the University of Wollongong and is commercialising the laboratory concept. As part of commercialization, Hysata will build and test a 5 MW system at its Port Kembla manufacturing facility. The full system is planned to be moved to Rockhampton for installation and trials adjacent to Stanwell Power Station, with the field pilot due to commence in 2025. The project is framed as a key step to unlocking commercial demand if the prototype proves effective at scale. Hysata is an Australian company that develops hydrogen electrolyser technology to produce green hydrogen. Its core product is an electrolyser system that operates at 95% system efficiency. Led by CEO Paul Barrett, the company positions the technology for scalability with potential availability in Europe from 2030. Hysata raised USD23M in a Series A to support growth. The company intends to use the funds to grow the team and develop a pilot manufacturing facility. Participating investors include Virescent Ventures (on behalf of the Clean Energy Finance Corporation), Kiko Ventures, IP Group Australia, Vestas Ventures, Hostplus and BlueScope via BlueScopeX.