Lin Junyang’s new company “Pragmatics” debuts, first-round valuation reaches 13.5 billion
Summary
Lin Junyang’s new AI lab, Pragmatics, has raised its first round of funding. The deal values the company at about 13.5 billion yuan, or roughly $2 billion. Tencent participated with a $20 million investment, while Gaorong Ventures and Hongshan China also led the round. The company is now reportedly preparing to start another financing round, signaling continued investor interest in its world-model and embodied-intelligence focus.
Funding
Amount
None
Total raised
Date
June 16, 2026
Announcement date
Investors
Banyan Capital, Jinhuitong Investment
Lead investors
Company
-
Funded company
Classifications
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applications
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