Glacier Capital - 庚辛资本

Founded in 2018 | Orchestrator of the Physical AI Era | $15.2B+ Capital Financing | 50+ Portfolio Companies

About

Glacier Capital (庚辛资本) is a professional investment institution focused on China's robotics, embodied intelligence, and intelligent systems field. We are the orchestrator of the Physical AI Era.

Portfolio Companies

D-Robotics 地瓜
Spirit AI 千寻
SpinQ 量旋科技
Paxini 帕西尼
ASTRONSTONE 宇石空间
GigaAI 极佳视界
XY 小雨智造
Rino.ai 白犀牛
Volant Aerotech 沃兰特航空
Yarbo 汉阳

Testimonials

1. D-Robotics 地瓜 - 姜璇 (CFO)

English: Robotics stands where autonomous driving was a decade ago—on the eve of a breakout. The future will be fragmented, multi-scenario, and non-standardized. The real moats? Compute, mass production, and ecosystem openness. D-Robotics has stayed laser-focused on the tech stack, positioning as the "Wintel" of the robotics era—mature dev platforms, production-grade DNA, lowering the barrier to entry, and driving embodied intelligence to scale.

中文: 机器人行业正处于早期爆发前夜，如同十年前的自动驾驶，未来必将走向场景多元、非标百花齐放的格局；而底层算力、量产能力与生态开放，才是行业真正的长期壁垒。地瓜始终专注技术底座，致力于成为机器人时代的"Wintel"，用成熟的开发底座与量产基因，降低行业创新门槛，推动具身智能规模化落地。

2. Spirit AI 千寻 - 韩峰涛 (创始人/CEO)

English: The endgame of embodied intelligence is a universal brain for the physical world. Two years in, the space is loud—demos of robots doing backflips, flexing for cameras. We hold a simple conviction: real robots do real work. They're not exhibits. They're not toys.

中文: 具身智能的终局，是为物理世界装上通用的"大脑"。过去两年，这个赛道异常喧嚣，到处都是翻跟头、秀肌肉的演示 Demo。但我们始终坚持一个常识：真正的机器人必须是能干活的生产力，而不是展品和玩具。

3. SpinQ 量旋科技 - 项金根博士 (创始人/CEO)

English: Quantum computing is a long game. Breakthroughs take time. Industry maturity takes time. And the market understanding this space—that takes time too.

中文: 量子计算是一条很长的路。技术突破需要时间，产业成熟需要时间，资本市场真正理解这个行业，同样需要时间。

4. Paxini 帕西尼 - Michael 许晋诚博士 (创始人/CEO)

English: Tactile sensing is the core of humanoid "sensory awakening"—and it was on China's list of 35 chokehold technologies. Glacier Capital saw the revolutionary implications of tactile modality for embodied intelligence before most of the market did, and committed to the space with conviction.

中文: 作为人形机器人"感知觉醒"的核心技术，触觉传感曾因技术瓶颈被视作中国 35 项"卡脖子"难题之一。庚辛资本敏锐捕捉到触觉模态对具身智能产业化的革命性意义，并始终如一地围绕这一领域布局。

5. ASTRONSTONE 宇石空间 - 唐文 (创始人/CEO)

English: Rockets are humanity's only way out of the gravity well—and escaping that well means breaking free from constraints you can't see. Four years in, here's what we've learned: building a stainless steel rocket and finding a partner who actually gets you run on the same logic.

中文: 火箭是人类走出地球引力井的唯一通道，而走出引力井本身，就需要挣脱无数看不见的束缚。创业四年，我们最深的感受是：不锈钢火箭的研制过程，和找到真正懂你的合作伙伴的过程，在底层逻辑上是相通的——都需要穿透表象，回到第一性原理。

6. GigaAI 极佳视界 - 黄冠博士 (创始人/CEO/CTO)

English: We started as a small team. Today we're a global leader in world models and embodied foundation models. Two core moats—GigaWorld and GigaBrain—anchored in a full-stack closed loop.

中文: 我们从初创团队起步，成长为世界模型与具身基模的全球引领者，手握 GigaWorld 世界模型与 GigaBrain 具身基模两大核心壁垒，构建起"世界模型驱动 - 具身基模进化 - 原生本体量产 - 泛化场景落地"的全栈闭环。

7. XY 小雨智造 - 乔忠良 (创始人/CEO)

English: Our founding team built phones and systems at Xiaomi. We're wired for hundred-million-user concurrency and obsessive about software-hardware integration. When we brought that DNA into embodied intelligence—targeting complex welding, the hardest problem in the space—most investors didn't get it at first.

中文: 我们的初创团队，过去在小米打磨手机和系统，习惯了应对亿级用户的并发挑战，追求极致的软硬一体体验。当我们决心把经验和方法论带进具身智能领域，瞄准"复杂焊接"这块最难啃的骨头时，说实话，很多投资人起初并没有完全看懂。

8. Rino.ai 白犀牛 - 陈翘 (投融资负责人)

English: Unmanned logistics is at the golden inflection point—scale commercialization. Rino.ai has been focused on autonomous delivery on public roads since day one.

中文: 无人物流赛道正处于"规模化商用"的黄金拐点，白犀牛从成立之初便始终专注于公开道路的无人送货，在技术、运营与政策耐心的多重考验下坚持至今。

9. Volant Aerotech 沃兰特航空 - DM 董明 (创始人/CEO)

English: Two years. Six rounds. Volant Aerotech and Glacier Capital started as client and advisor and evolved into a deep strategic partnership.

中文: 过去两年，沃兰特与庚辛资本在六轮融资的历程中一路携手、并肩奋进，从最初的甲乙方关系逐步升级为深度而稳固的战略协作伙伴。

10. Yarbo 汉阳 - Allen 黄阳 (创始人/CEO)

English: 2022 snow season. Our team spent six months in the U.S.—measuring real snow conditions, refining the product, and visiting a hundred-plus seed users for feedback.

中文: 2022 年雪季，我们的团队在美国度过了半年的时间，一方面深入测量各种真实的雪况，不断打磨产品；另一方面走访了上百位种子用户，收集反馈。

11. OBSBOT 睿魔 - 刘博 (创始人/CEO)

English: Since 2021, Glacier Capital has brought sharp perspective on the robotics industry. They understood OBSBOT's products, the underlying tech stack, and the long-term vision—and translated that into a differentiated value proposition for the market and investors.

中文: 自 2021 年与庚辛合作以来，庚辛的团队凭借对机器人产业的独到见解，在深刻理解 obsbot 的产品、背后的技术积累、以及终极愿景的基础上，挖掘出了公司的差异化优势以及对整个影像行业的产业价值，并持续将其传递给市场和投资人。

12. ROBOTERA 星动纪元 - 袁冰冰 (投融资副总裁)

English: Empowering industries through embodied intelligence has always been ROBOTERA's mission. From the beginning, ROBOTERA has remained committed to full-stack in-house development. Across the brain, motion control, data, five-finger dexterous hands, and the humanoid body, the company has built an integrated AI-native system designed for robots that do real work, creating a technical moat and supporting real industrial deployment and commercial scaling.