On Aug. 12 former Qianwen head of technology Lin Junyang announced he has
founded Shanghai-based AI company Yuyong Technology to develop next-generation
agents spanning the digital and physical worlds. He said Gaorong Capital and HSG
(Sequoia China) co-led the angel round, with Tencent and the Shanghai Future
Industry Fund participating; sources put the angel valuation at about $2.0
billion.