Pragmatik Labs · $220,000,000 · Angel

Former Alibaba Qwen lead launches Pragmatik Labs at $2 billion valuation: Former Alibaba Qwen technical lead Lin Junyang has founded Pragmatik Labs in Shanghai with a $2 billion angel-round valuation. Gaorong and HSG co-led the round with $100 million each, while Tencent contributed $20 million to support the startup's focus on digital and physical agents.