Kaiwang Data, an AI data infrastructure company covering the full chain, has completed a new round of strategic financing exceeding 100 million yuan.

According to Kaiwang Data's official announcement: On 8 month 4 day, full-link AI data infrastructure company Kaiwang Data officially announced the successful completion of a new strategic financing round exceeding 100 million yuan. This round was jointly led by Beijing Yizhuang Industrial Upgrading Fund, Huafang Capital, and Tianji Capital. It also received participation from investors including Xinding Capital, Mirai Asset Management, Xinghua Dingli, Huazhang Investment, and Lunda Chuanrun, as well as leading embodied intelligence companies such as Luming Robotics, Songyan Dynamics, Variable Robot, and Mifeng Technology (under Zhiyuan). Existing shareholders Aosheng Capital, Qingzhi Capital, and Puxue Capital increased their stakes. This creates a "state-owned industrial fund + financial VC + robotics industry player" tripartite shareholder ecosystem, reflecting strong market confidence in physical world large models and embodied intelligence data infrastructure. The raised funds will be deployed across three key areas: developing an integrated data trading platform, recruiting specialized talent for world model technologies, and scaling up data production capacity in real-world scenarios across business, industrial, and household sectors. These efforts will further strengthen Kaiwang Data's core capabilities covering the entire data service chain—from collection and labeling to trading and delivery. I. Diverse Investors Unite: Industry Capital Deeply Tied to Data Foundation This investment round demonstrates synergy among state-owned capital, financial institutions, and industry ecosystems. The lead investors include Beijing Yizhuang Industrial Upgrading Fund, which leverages the economic zone's AI policy resources to help Kaiwang integrate deeply into Beijing's intelligent connected vehicle and humanoid robot clusters; Huafang Capital and Tianji Capital, professional firms with long-term expertise in the AI sector who are precisely positioned to capitalize on the Physical AI boom. Notable participants in the follow-on round include financial institutions like Xinding Capital, Mirai Asset Management, Xinghua Dingli, Huazhang Investment, and Lunda Chuanrun, all increasing their stakes. Leading domestic embodied intelligence enterprises—Luming Robotics, Songyan Dynamics, Variable Robot, and Mifeng Technology (under Zhiyuan)—have strategically invested, marking Kaiwang Data's first time bringing in robotics hardware manufacturers as long-term strategic shareholders. Existing shareholders Aosheng Capital, Qingzhi Capital, and Puxue Capital also increased their investments, demonstrating continued confidence in the company's long-term growth. Multiple investors stated in interviews that the AI industry has shifted from algorithmic competition to data competition. High-quality multimodal real-world data is the core bottleneck limiting the scaled deployment of embodied intelligence and humanoid robots. Kaiwang Data has established a complete closed loop from "labeling → governance → trading → model application." Leveraging its scalable, low-cost data operations system built during autonomous driving development, it quickly entered the robotics sector. Its industry-exclusive offline real-world implementation and multimodal data production capabilities create significant technical barriers, positioning it to become China's core data infrastructure provider for Physical AI. Robotics companies participating in the investment unanimously agreed: Large-scale real-world interaction data is the core production material for humanoid robot iteration. Strategic investment in Kaiwang Data enables closing the "scenario collection — data training — robot product iteration" industry loop, addressing upstream data supply gaps for robot manufacturers and accelerating commercialization in home, industrial, and retail scenarios. II. Dual-Track Business Model Established: Autonomous Driving Foundation Stable, Embodied Intelligence Launches Second Growth Curve Founded in 2022, Kaiwang Data has built a complete full-link service system over four years, covering data definition, field collection, semantic refinement, and standardized circulation. The company is simultaneously布局 two core Physical AI tracks: autonomous driving and embodied intelligence. In autonomous driving, the company serves all categories of automakers and autonomous driving algorithm firms, supporting end-to-end models and vertical world model training needs while consistently delivering standardized road multimodal data. In 2025, it launched the industry's first "data carpooling" product, implementing a new crowd-sourced autonomous driving model in Beijing. This has become a benchmark solution for industry data circulation, providing stable mature revenue. As AI extends into the real physical world, demand in the embodied intelligence track has exploded, becoming Kaiwang's core growth engine. The company now produces multimodal datasets including first-person bare-hand operation, tactile sensing, and panoramic third-person perspective video, deployed in complex real-world environments like supermarkets, homes, and automotive assembly lines. Monthly effective real-world data capacity approaches 10 hours, breaking the industry threshold of 1 hours for scaled operations, and securing long-term bulk purchase agreements with multiple leading robotics companies. III. Anchoring High-Quality Data Supply: Building a Collaborative Domestic AI Industry Ecosystem Yu Xu, Founder and CEO of Kaiwang Data, stated: "The AI industry has never been about single enterprises working alone. It requires government guidance, capital support for long-term development, and deep collaboration among data service providers, algorithm companies, and real-world scenario operators to build a complete flywheel from data raw materials to intelligent robot deployment. This financing opens new growth space for us, and we are fully confident in the long-term development of embodied intelligence and physical world large models." He emphasized that the company will always focus on high-quality data supply as its core foundation. Leveraging this financing round, it will expand scenario capacity and build a standardized data trading platform, collaborating with all investors and industry partners to create a symbiotic AI ecosystem. This will continuously provide scaled real-world training data for domestic world models and humanoid robots, helping China's embodied intelligence industry compete globally in technology and industry. JoyHIAI Intelligence Observation With the convergence of three major trends—scaled autonomous driving deployment, large model commercialization, and humanoid robot industrialization—the AI data infrastructure sector has entered a rapid development window. Unlike traditional purely financial investments, this round features numerous robotics hardware manufacturers directly making strategic investments in upstream data service providers, marking a new industry trend. This signifies that the embodied intelligence industry chain has officially entered a new phase of deep upstream-downstream binding and collaborative construction. Represented by full-link data companies like Kaiwang Data, these enterprises will play a critical role in bridging physical world data supply, serving as the foundational support for leapfrog development of China's Physical AI industry. About Lanling Xingtong Beijing Lanling Xingtong Technology Co., Ltd. is a company focused on hard-core satellite communication R&D. Centered on its self-developed "ultra-low-power terminal direct satellite connection technology," it provides integrated space-ground time-space data services for power, emergency response, marine, transportation, forestry, agriculture, and other industries through next-generation communication satellite constellations and universal ground terminals. It has built a ground-based IoT network covering satellite design, narrowband communication, low-code IoT platforms, and digital twin systems, creating compact, low-cost, traceable spatial 3D solutions that drive the democratization of satellite communication technology and cross-domain fusion innovation. About Baiyun JinKong Guangzhou Baiyun Financial Holding Group Co., Ltd. (abbreviated as Baiyun JinKong) is a state-owned industrial finance platform established by the Baiyun District Government in 2018 year 4 month. The company aims to become a specialized state-owned capital operation company dedicated to optimizing state-owned capital layout and conducting financial investments around the "6+6+3" industrial system. It drives industrial aggregation and transformation upgrading in the district through two main sectors: finance and human resources. The finance sector covers fund investment, quasi-financial services (guarantees, financial leasing, etc.), and supply chain finance, using comprehensive financial services to assist the real economy and regional economic transformation, while strengthening professional capital operations and market-oriented financial investments to enhance value creation capabilities. The human resources sector supports the district's talent strategy through comprehensive HR services, attracting talent via recruitment and cultivating talent through education and training, ensuring talent support for regional industrial development. The tech industry sector promotes traditional industry transformation, emerging industry growth, and future industry layout cultivation through strategic investments, M&A, park development, investment promotion operations, enterprise incubation, and tech innovation services, contributing to high-quality development in Baiyun District. Source: Lanling Xingtong