# Cowin Capital Portfolio Map 2026: 42 Startups by Sector

> Cowin Capital's portfolio mapped: 42 startups it has backed, in 10 sectors from Biotech, Manufacturing and Healthtech on.

Source: https://millionrounds.com/portfolio-maps/cowin-venture-capital-portfolio-map (Millionrounds; every figure on the page links to its filing or article)

## Biotech

8

- [*B* Biocytogen](https://millionrounds.com/company/biocytogen)
- [Biotheus](https://millionrounds.com/company/biotheus)
- [*T* Thrive](https://millionrounds.com/company/thrive)
- [*K* KPB](https://millionrounds.com/company/kpb)
- [Connect Biopharmaceuticals](https://millionrounds.com/company/connect-biopharmaceuticals)
- [*M* MobileMD](https://millionrounds.com/company/mobilemd)
- [*HP* Hexin Pharmaceutical](https://millionrounds.com/company/hexin-pharmaceutical)
- [*PG* Paradon Genomics](https://millionrounds.com/company/paradon-genomics)

## Manufacturing

7

- [Sineva](https://millionrounds.com/company/sineva)
- [KingstronBio](https://millionrounds.com/company/kingstronbio)
- [Sigma Squares Tech](https://millionrounds.com/company/sigma-squares-tech)
- [Kossi](https://millionrounds.com/company/kossi)
- [Wonsor](https://millionrounds.com/company/wonsor)
- [*PO* Parkson Optoelectronics](https://millionrounds.com/company/parkson-optoelectronics)
- [*A* Anpaixin](https://millionrounds.com/company/anpaixin)

## Healthtech

5

- [Tendfo](https://millionrounds.com/company/tendfo)
- [*CP* Crystal Pharmatech](https://millionrounds.com/company/crystal-pharmatech)
- [Carbon Medtech](https://millionrounds.com/company/carbon-medtech)
- [*AB* Aijie Boya](https://millionrounds.com/company/aijie-boya)
- [gippro](https://millionrounds.com/company/gippro)

## Automotive & EVs

4

- [CARKU](https://millionrounds.com/company/carku)
- [*C* Chexingyi](https://millionrounds.com/company/chexingyi)
- [MapGoo](https://millionrounds.com/company/mapgoo)
- [SIRUN](https://millionrounds.com/company/sirun)

## Hardware & Electronics

3

- [XShuai](https://millionrounds.com/company/xshuai)
- [*HC* Huachen Core Light](https://millionrounds.com/company/huachen-core-light)
- [Shanhai Semiconductor](https://millionrounds.com/company/shanhai-semiconductor)

## Logistics

3

- [*Z* Zongmu](https://millionrounds.com/company/zongmu)
- [Acctrue](https://millionrounds.com/company/acctrue)
- [Ecaray](https://millionrounds.com/company/ecaray)

## Chemicals & Materials

3

- [Guoyi Quantum](https://millionrounds.com/company/guoyi-quantum)
- [InRoad](https://millionrounds.com/company/inroad)
- [*M* Meinangaoke](https://millionrounds.com/company/meinangaoke)

## E-commerce

3

- [*R* Raycloud](https://millionrounds.com/company/raycloud)
- [*HP* Huaqiang PCB](https://millionrounds.com/company/huaqiang-pcb)
- [Thunderobot](https://millionrounds.com/company/thunderobot)

## Cybersecurity

3

- [*LT* Luoan Technology](https://millionrounds.com/company/luoan-technology)
- [Tophant](https://millionrounds.com/company/tophant)
- [*D* dreamHunt](https://millionrounds.com/company/dreamhunt)

## Advanced Manufacturing

3

- [Sinsegye](https://millionrounds.com/company/sinsegye)
- [Snapmaker](https://millionrounds.com/company/snapmaker)
- [Vintage](https://millionrounds.com/company/vintage)

## Segment by segment

### Biotech

8 startups · $589M raised

- [*B* **Biocytogen**](https://millionrounds.com/company/biocytogen) China $142M
- [**Biotheus**](https://millionrounds.com/company/biotheus) Biotheus is a biotech company that focuses on the discovery and development of antibody-based therapeutics. China $115M
- [*T* **Thrive**](https://millionrounds.com/company/thrive) United States $111M
- [*K* **KPB**](https://millionrounds.com/company/kpb) United States $76M
- [**Connect Biopharmaceuticals**](https://millionrounds.com/company/connect-biopharmaceuticals) Connect Biopharma is a developer of novel immune modulators for the treatment of serious autoimmune diseases and inflammation. China $75M
- [*M* **MobileMD**](https://millionrounds.com/company/mobilemd) China $48M
- [*HP* **Hexin Pharmaceutical**](https://millionrounds.com/company/hexin-pharmaceutical) Hexin Pharmaceutical is a developer of nuclide drugs integrating targeted diagnosis and treatment. China $15M
- [*PG* **Paradon Genomics**](https://millionrounds.com/company/paradon-genomics) United States $8.0M

### Manufacturing

7 startups · $190M raised

- [**Sineva**](https://millionrounds.com/company/sineva) Sineva engages in R&D, manufacturing and sales of transfer robots, test robots, service robots and intelligent factory solutions. - $70M
- [**KingstronBio**](https://millionrounds.com/company/kingstronbio) KingstronBio manufactures artificial heart valves and annuloplasty rings. China $47M
- [**Sigma Squares Tech**](https://millionrounds.com/company/sigma-squares-tech) Sigma Squares Tech is an automated manufacturing system developer. China $16M
- [**Kossi**](https://millionrounds.com/company/kossi) Kesi Intelligent is a company that specializes in motion controller systems and offers servo drive application services. China $15M
- [**Wonsor**](https://millionrounds.com/company/wonsor) Wonsor focuses on automatic precision detection technology to provide professional detection solutions and chip-based products. China $14M
- [*PO* **Parkson Optoelectronics**](https://millionrounds.com/company/parkson-optoelectronics) Parkson Optoelectronics is a company that provides cold processing services for hard and brittle materials. China $14M
- [*A* **Anpaixin**](https://millionrounds.com/company/anpaixin) Anpaixin manufactures thin-film lithium niobite photonic circuits and optical engines. China $14M

### Healthtech

5 startups · $61M raised

- [**Tendfo**](https://millionrounds.com/company/tendfo) Tendfo develops a medical device for pulmonary embolism interventional therapy. China $15M
- [*CP* **Crystal Pharmatech**](https://millionrounds.com/company/crystal-pharmatech) Crystal Pharmatech is a solid-state drug development firm. China $15M
- [**Carbon Medtech**](https://millionrounds.com/company/carbon-medtech) Carbon Medtech focuses on non-vascular procedures and offers surgical supplies and equipment. China $14M
- [*AB* **Aijie Boya**](https://millionrounds.com/company/aijie-boya) Aijie Boya is a medical instrument and magnetic solid-phase material company. China $14M
- [**gippro**](https://millionrounds.com/company/gippro) gippro is a technology company in the big health industry. China $3.0M

### Automotive & EVs

4 startups · $38M raised

- [**CARKU**](https://millionrounds.com/company/carku) Shenzhen Carku Technology Co., Ltd., established in 2011, is a high-tech enterprises specializing in R&D, production and sales of China $14M
- [*C* **Chexingyi**](https://millionrounds.com/company/chexingyi) Chexingyi is an online automotive aftermarket service provider. China $10M
- [**MapGoo**](https://millionrounds.com/company/mapgoo) MapGoo is a technology company that offers automotive digital technology and operation services. China $7.5M
- [**SIRUN**](https://millionrounds.com/company/sirun) Sirun Tianlang (Beijing) Technology Co., Ltd. China $6.8M

### Hardware & Electronics

3 startups · $84M raised

- [**XShuai**](https://millionrounds.com/company/xshuai) XShuai is a home cinema equipment development company. China $38M
- [*HC* **Huachen Core Light**](https://millionrounds.com/company/huachen-core-light) Huachen Core Light is a semiconductor technology company that produces and manufactures optical communications and laser chips. China $28M
- [**Shanhai Semiconductor**](https://millionrounds.com/company/shanhai-semiconductor) Shanhai Semiconductor is a high-performance digital-analog hybrid and signal chain chip developer. - $18M

### Logistics

3 startups · $200M raised

- [*Z* **Zongmu**](https://millionrounds.com/company/zongmu) Zongmu Technology is a Chinese self-driving tech firm. China $185M
- [**Acctrue**](https://millionrounds.com/company/acctrue) Acctrue is a supply chain information tracking solution provider. China $8.4M
- [**Ecaray**](https://millionrounds.com/company/ecaray) Ecaray provides smart parking solutions for cities. China $5.9M

### Chemicals & Materials

3 startups · $35M raised

- [**Guoyi Quantum**](https://millionrounds.com/company/guoyi-quantum) Guoyi Quantum is a quantum measurement company who supply quantum sensors, scientific instruments, and equipment for analysis and testing. China $18M
- [**InRoad**](https://millionrounds.com/company/inroad) InRoad provides mobile information solution and management software for the industrial manufacturers. China $16M
- [*M* **Meinangaoke**](https://millionrounds.com/company/meinangaoke) Meinangaoke is a R & D and manufacturer of new waterproof materials. China $1.4M

### E-commerce

3 startups · $69M raised

- [*R* **Raycloud**](https://millionrounds.com/company/raycloud) Guangyun Technology is an e-commerce software and service technology company. China $42M
- [*HP* **Huaqiang PCB**](https://millionrounds.com/company/huaqiang-pcb) Huaqiu is an electronic supply chain platform. China $15M
- [**Thunderobot**](https://millionrounds.com/company/thunderobot) Thunderobot is a Chinese company specializing in gaming hardware and esports equipment. China $12M

### Cybersecurity

3 startups · $104M raised

- [*LT* **Luoan Technology**](https://millionrounds.com/company/luoan-technology) Luoan Technology provides industrial control network security services. - $74M
- [**Tophant**](https://millionrounds.com/company/tophant) Tophant is a innovative Internet security service provider in China. China $28M
- [*D* **dreamHunt**](https://millionrounds.com/company/dreamhunt) dreamHunt develops multi-dimensional and multi-angle dynamic portrait recognition technology. China $1.4M

### Advanced Manufacturing

3 startups · $47M raised

- [**Sinsegye**](https://millionrounds.com/company/sinsegye) Sinsegye operates as a product-driven enterprise company. China $43M
- [**Snapmaker**](https://millionrounds.com/company/snapmaker) Snapmaker is a technology company based in Shenzhen, China, specializing in multifunctional, modular desktop digital fabrication tools. China $3.0M
- [**Vintage**](https://millionrounds.com/company/vintage) Yuntaiji Technology develops visual inspection instruments for appearance defect detection. China $809K

**How this map is made.** Every startup here has raised money in a round we track that names Cowin Capital as an investor, the first in 2014. Each sits under its main sector, read from its rounds, and each shows its best-funded first. Rebuilt nightly; updated 15 November 2026.

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