# TusStar: portfolio, investments and team

> TusStar is an incubator based in China. 69 investments on record, 6 in the last 12 months, latest Mar 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/tusstar (Millionrounds; every figure on the page links to its filing or article)

China · [Investor](https://millionrounds.com/investors)

# TusStar

Last cheque observed Mar 2026; 69 cheques on record.

Deploying now Incubator

Pre-seed Seed Technology Clean Energy Low-altitude Economy

Deploying now

**40%** of best year **6** **cheques in 12 months**, 69 on record

Since the last cheque **239** days **00** hrs **00** min **00** sec

Median round **$1.6M** Rounds led **0 of 69** Sole investor **43 rounds** Mostly in **Netherlands, 20%**

Pitch TusStar

## TusStar highlights

- 01 6 cheques in the last 12 months
- 02 Mostly Venture and Series A: 56% of its rounds
- 03 Sole investor in 43 rounds, median $1.5M

## What they do

> TusStar Incubator Translated from Chinese, from their own website

- **Type:** Incubator
- **Cheque size:** Not stated
- **Stages:** Pre-seed Seed
- **Sectors:** Technology Clean Energy Low-altitude Economy
- **Based in:** China
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **69 appearances**

- **2026** 5 rounds
- **Mar** **[Yuji Aerospace](https://millionrounds.com/company/yuji-aerospace)** Pre-seed **$1.5M** Sole investor
- **Feb** **[Specstar Aerospace](https://millionrounds.com/company/specstar-aerospace)** Pre-seed **$4.3M** Sole investor
- **Feb** **[Qianjue Technology](https://millionrounds.com/company/qianjue-technology)** Venture **Undisclosed** With 4 others
- **Feb** **[RobotMeta](https://millionrounds.com/company/robotmeta)** Series B **$14M** With 3 others
- **Feb** **[Shouyi Technology](https://millionrounds.com/company/shouyi-technology)** Seed **$1.4M** With 1 other
- **2025** 12 rounds
- **Dec** **[Gongyuan Sanqian](https://millionrounds.com/company/gongyuan-sanqian)** Venture **Undisclosed** Sole investor
- **Aug** **[Traverser](https://millionrounds.com/company/traverser)** Venture **Undisclosed** With 1 other
- **Aug** **[Zigge Technology](https://millionrounds.com/company/zigge-technology)** Series C **$14M** With 1 other
- **Jul** **[Mocang Robot](https://millionrounds.com/company/mocang-robot)** Venture **Undisclosed** With 2 others
- **Jun** **[Xiangke Intelligence](https://millionrounds.com/company/xiangke-intelligence)** Seed **$1.4M** With 1 other
- **Jun** **[MLINK](https://millionrounds.com/company/mlink)** Venture **Undisclosed** Sole investor
- **Apr** **[Lansus Technologies](https://millionrounds.com/company/lansus-technologies)** Venture **Undisclosed** With 2 others
- **Mar** **[TOPI Imaging Technology](https://millionrounds.com/company/topi-imaging-technology)** Series E **$69M** With 3 others
- **Mar** **[autowise.ai](https://millionrounds.com/company/autowise-ai)** Venture **Undisclosed** Sole investor
- **Mar** **[Hisky Medical](https://millionrounds.com/company/hisky-medical)** Series D **$14M** With 1 other
- **Mar** **[MindFlowing](https://millionrounds.com/company/mindflowing)** Venture **Undisclosed** With 1 other
- **Jan** **[Xianlong Technology](https://millionrounds.com/company/xianlong-technology)** Venture **Undisclosed** Sole investor
- **2024** 4 rounds
- **Nov** **[Natue & Future](https://millionrounds.com/company/natue-and-future)** Pre-seed **$1.4M** With 1 other
- **Sept** **[TsaiHua](https://millionrounds.com/company/tsaihua)** Venture **Undisclosed** Sole investor
- **May** **[Novauto](https://millionrounds.com/company/novauto)** Series B **$14M** Sole investor
- **Apr** **[Da Instruments](https://millionrounds.com/company/da-instruments)** Seed **$1.4M** Sole investor
- **2023** 5 rounds
- **Jun** **[Guorun Energy Storage](https://millionrounds.com/company/guorun-energy-storage)** Series A **$28M** With 1 other
- **Jun** **[VDJ](https://millionrounds.com/company/vdj)** Venture **Undisclosed** Sole investor
- **May** **[Onemile](https://millionrounds.com/company/onemile)** Series B **$7.2M** Sole investor
- **Mar** **[The Cooking Master](https://millionrounds.com/company/the-cooking-master)** Seed · NL **$450K** Sole investor
- **Jan** **[Yuguang Technology](https://millionrounds.com/company/yuguang-technology)** Venture **Undisclosed** Sole investor
- **2022** 7 rounds
- **Dec** **[VibrantCashory](https://millionrounds.com/company/vibrantcashory)** Seed · GB **$500K** With 2 others
- **Oct** **[Drink Purely PVT Limited](https://millionrounds.com/company/drink-purely-pvt-limited)** Seed · PL **$500K** Sole investor
- **Oct** **[WP Apps Limited](https://millionrounds.com/company/wp-apps-limited)** Seed **$600K** Sole investor
- **Oct** **[Euler Intelligence](https://millionrounds.com/company/euler-intelligence)** Venture **Undisclosed** With 1 other
- **Jun** **[THE ENIGMASHIELD](https://millionrounds.com/company/the-enigmashield)** Seed · SE **$500K** Sole investor
- **Mar** **[UM Apps](https://millionrounds.com/company/um-apps)** Seed · ES **$600K** Sole investor
- **Feb** **[Yiemed](https://millionrounds.com/company/yiemed)** Venture **Undisclosed** With 1 other
- **2021** 3 rounds
- **Dec** **[ZhaoGuang.com](https://millionrounds.com/company/zhaoguang-com)** Seed **$1.6M** Sole investor
- **Dec** **[iSMARTWAYS](https://millionrounds.com/company/ismartways)** Venture **Undisclosed** Sole investor
- **Sept** **[YUANBAO TECH](https://millionrounds.com/company/yuanbao-tech)** Venture **Undisclosed** With 3 others
- **2020** 2 rounds
- **Sept** **[Yue Shen AI Yuwen](https://millionrounds.com/company/yue-shen-ai-yuwen)** Venture **Undisclosed** Sole investor
- **Mar** **[Zhizhangyi](https://millionrounds.com/company/zhizhangyi)** Venture **Undisclosed** With 1 other
- **2019** 7 rounds
- **Aug** **[MAXFC](https://millionrounds.com/company/maxfc)** Venture **$7.1M** Sole investor
- **Jun** **[Twirling In Time](https://millionrounds.com/company/twirling-in-time)** Venture **$7.2M** Sole investor

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## What they claim to have backed

From their own portfolio page (on their website)

**1** of 15 we have independently watched raise

[商汤科技](https://millionrounds.com/company/sensetime) Tusstar 中信银行 中化集团 中文在线 中集集团 交通银行 北京银行 华为云 启迪控股 投资界 招商银行 知呱呱 脑洞科技 腾讯云

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## The cheque

Pre-seed Seed

Median round joined **$1.6M** the round, not its cheque Alone, median **$1.5M**

Led 0 of 69 rounds **0%**

- **Sole investor:** 43 rounds
- **Last cheque:** Mar 2026

Rounds by stage said on their site

- Venture *22*
- Series A *15*
- Pre-seed said *10*
- Seed said *10*
- Series B *7*
- Series C *2*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Innoangel Fund](https://millionrounds.com/fund/innoangel-fund) 4
- [Legend Capital](https://millionrounds.com/fund/legend-capital) 3
- [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) 3
- [Baidu Ventures](https://millionrounds.com/fund/baidu-ventures) 2
- [Citibank](https://millionrounds.com/fund/citi) 2
- [Matrix Partners China](https://millionrounds.com/fund/matrix-partners-china-2) 2

**Pitching TusStar?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as TusStar. A count of rooms they were both in, not a relationship either has claimed.

[**Innoangel Fund** VC firm **4** rounds together](https://millionrounds.com/fund/innoangel-fund)[**Legend Capital** VC firm **3** rounds together](https://millionrounds.com/fund/legend-capital)[**Qiming Venture Partners** VC firm **3** rounds together](https://millionrounds.com/fund/qiming-venture-partners)[**Baidu Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/baidu-ventures)[**Citibank** Growth equity **2** rounds together](https://millionrounds.com/fund/citi)[**Matrix Partners China** VC firm **2** rounds together](https://millionrounds.com/fund/matrix-partners-china-2)[**Plum Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/plum-ventures)[**Shenzhen Capital Group Co.** Government **2** rounds together](https://millionrounds.com/fund/shenzhen-capital-group)

## Recently backed

The latest companies TusStar put money into.

[**RobotMeta** $14M · Feb 2026](https://millionrounds.com/company/robotmeta)[**autowise.ai** Mar 2025](https://millionrounds.com/company/autowise-ai)[**TsaiHua** Sept 2024](https://millionrounds.com/company/tsaihua)[**Euler Intelligence** Oct 2022](https://millionrounds.com/company/euler-intelligence)[**iSMARTWAYS** Dec 2021](https://millionrounds.com/company/ismartways)[**YUANBAO TECH** Sept 2021](https://millionrounds.com/company/yuanbao-tech)

## Quick answers about TusStar

### What does TusStar invest in?

TusStar invests most often at Venture and Series A (56% of the rounds on record), in sectors such as Technology, Clean Energy and Low-altitude Economy.

### How active is TusStar?

69 investments on record, 6 of them in the last 12 months. The most recent was in Mar 2026.

### What has TusStar invested in recently?

Its most recent investments on record: Yuji Aerospace (Pre-seed, Mar 2026), Specstar Aerospace (Pre-seed, Feb 2026) and Qianjue Technology (Venture, Feb 2026).

### How big are TusStar's cheques?

The median round it joins is $1.6M.

### Does TusStar lead rounds?

Rarely, if at all: none of its 69 investments on record names it as the lead.

### Where does TusStar invest?

Most of the companies it backs are in the Netherlands (20%), the United Kingdom (20%) and Poland (20%).

### Is TusStar investing now?

Yes: it is actively investing, with 6 investments in the last 12 months.

### Who does TusStar invest alongside?

Most often Innoangel Fund (4 rounds together), Legend Capital (3 rounds together) and Qiming Venture Partners (3 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=tusstar) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=tusstar)