Qwen lead starts Pragmatik Labs with Shanghai state money

Qwen lead starts Pragmatik Labs with Shanghai state money

Junyang Lin, who led Alibaba Qwen, launched Pragmatik Labs in Shanghai. Tencent, HSG, Gaorong and a state fund backed it.

Former Qwen Tech Chief Lin Junyang Launches Pragmatik Labs with a Two-Billion-Dollar Valuation — and Pivots from Foundation Models to Agents

Lin Junyang, the former Alibaba Qwen technical lead and one of the youngest P10-level engineers at the company, has founded Pragmatik Labs in Shanghai with a 2 billion dollar valuation at angel stage. Gaorong and HongShan co-led the round with 100 million dollars each, Tencent invested 20 million, and the Shanghai Future Industry Fund participated. The valuation was reached without any product, user base, or revenue disclosure, an early-stage pa…