HSG

HSG, formerly known as Sequoia Capital China, is a global venture capital and private equity firm, managing over USD 55 billion across various funds. Established in 2005, HSG invests in technology, healthcare, and consumer sectors, with a focus on seed, venture, growth, buyout, and infrastructure stages. The firm has backed over 1,500 companies, with more than 160 listed on public exchanges and over 140 achieving unicorn status. HSG operates globally, with offices in Hong Kong, Shanghai, Beijing, Shenzhen, London, Tokyo, and Singapore, providing extensive resources and industry expertise to its portfolio companies.

Rohit Agarwal

Managing Director

Mohit Bhatnagar

Managing Director

Wang Chenyu

Vice President

Sakshi Chopra

Managing Director

Raghavv Garg

Analyst

Pushpak Kedia

Vice President

Sunint Khurana

Analyst

Saksham Mittal

Analyst

Ishaan Mittal

Managing Director

Abhishek Mohan

Principal

Javier Ng

Associate

Enita Pu

Partner

Wendy Qian

Analyst

Haim Sadger

Partner

Yoav Shaked

Partner

Johan Surani

Vice President

Vedant Trivedi

Associate

Aradhita Tuli

Investment Analyst

Pavel Vyhnalek

Operating Partner

Fu Xin

Partner

Past deals in Smart Cities

Attentive

Series A in 2025
Attentive AI specializes in the development of advanced artificial intelligence systems that analyze extensive geospatial imagery to deliver precise insights. Headquartered in New Delhi, India, the company caters to geospatial technology providers and end users by offering 2D and 3D vector data derived from various sources, including satellite, aerial, street, and drone imagery. Additionally, Attentive AI has created landscape management software aimed at enhancing operational efficiency for businesses in the landscaping, asphalt and paving, facilities maintenance, and snow removal sectors. This software leverages AI to optimize workflows, enabling clients to scale their operations effectively while providing access to up-to-date aerial imagery and blueprints.

Sanshou Technology

Seed Round in 2024
Sanshou Technology focuses on researching and developing smart motorcycles.

Cloudphysician

Series A in 2024
Cloudphysician is a prominent provider of Smart-ICU services that utilizes a cloud-based platform to enhance critical care delivery. The company employs advanced technologies, including artificial intelligence, the Internet of Things, and predictive analytics, to facilitate real-time clinical decision-making and improve patient outcomes. By offering remote management solutions, Cloudphysician enables healthcare providers to monitor patients effectively, assisting in early-stage diagnosis of critical illnesses in adults and tracking the health and immunization of newborns to reduce neonatal mortality rates. Through this innovative approach, Cloudphysician aims to transform the healthcare landscape, providing hospitals and healthcare professionals with improved support and training capabilities.

Attentive

Series A in 2024
Attentive AI specializes in the development of advanced artificial intelligence systems that analyze extensive geospatial imagery to deliver precise insights. Headquartered in New Delhi, India, the company caters to geospatial technology providers and end users by offering 2D and 3D vector data derived from various sources, including satellite, aerial, street, and drone imagery. Additionally, Attentive AI has created landscape management software aimed at enhancing operational efficiency for businesses in the landscaping, asphalt and paving, facilities maintenance, and snow removal sectors. This software leverages AI to optimize workflows, enabling clients to scale their operations effectively while providing access to up-to-date aerial imagery and blueprints.

Newtrace

Seed Round in 2023
Newtrace specializes in the development of advanced electrolyzer technology aimed at facilitating the large-scale production of affordable green hydrogen. The company focuses on creating innovative electrolyzers that integrate comprehensive data from plant equipment into a unified automated platform. This integration allows clients to efficiently manage their operations, enabling the production of green hydrogen at competitive prices. By prioritizing scalability and commercial viability, Newtrace positions itself as a key player in the transition towards sustainable energy solutions.

Deep Intelligent Control Technology

Series A in 2023
Deep Intelligent Control Technology specializes in digital intelligence innovation and energy conservation, focusing on the development of advanced products and technologies aimed at enhancing energy efficiency. The company utilizes Artificial Intelligence of Things (AIoT) technology to create a user-friendly, plug-and-play IoT energy management and monitoring system that requires minimal coding skills, thereby reducing costs and increasing operational efficiency for businesses across various sectors. By empowering the building and industrial energy-saving industries, Deep Intelligent Control contributes to a notable reduction in energy consumption, leading to greater sustainability and a decrease in carbon emissions. Their efforts are directed towards helping organizations transition to digitally intelligent operations while achieving significant energy savings in electromechanical systems.

Bounce

Venture Round in 2023
Bounce (formerly known as Metro Bikes) is a smart mobility solution, with a mission of making daily commute stress-free, time-saving, reliable, and convenient. With a breakthrough technology that lets users access the bike with just an OTP, the Keyless bikes, have not only done away with keys, but the whole process of renting a bike has just become devoid of any physical or human intervention. With Bounce's new One Way Rental service, users can now pick up and drop the bike anywhere they need to and be done with the ride. This is aimed at providing a seamless first mile and last-mile connectivity to metro users. Founded in 2014, Bounce aims at decongesting the roads by encouraging commuters to choose public transport by delivering convenient options to rent bikes and reach their destinations from metro stations. It is based in Bangalore, India.

Univers.

Series A in 2022
Univers is a developer of an AIoT operating system that connects and manages smart devices and energy assets on a global scale. By leveraging artificial intelligence and Internet of Things technology, Univers provides a comprehensive platform for monitoring and managing assets, energy, and carbon emissions. The company's software delivers advanced analytics, forecasting, and actionable insights, allowing organizations to optimize their energy systems and enhance portfolio performance. With a focus on facilitating decarbonization, Univers supports companies and countries in reducing carbon emissions through accurate and reliable data management.

Rox Motor

Series D in 2022
ROX Motor is a company dedicated to the development of off-road new energy vehicles, specializing in innovative technologies that enhance smart car capabilities. The firm focuses on research and development in several key areas, including new energy power systems, intelligent cockpit designs, and autonomous driving solutions. By providing advanced product definitions and core intelligence technologies, ROX Motor aims to improve the overall quality of products within the new energy vehicle industry, catering to the growing demand for environmentally friendly and technologically advanced transportation options.

Beam

Series B in 2022
Beam Mobility Holdings Pte. Ltd. is a micro-mobility company that offers electric scooters for rent through a user-friendly mobile application. Established in 2018 and based in Singapore, Beam aims to enhance urban mobility by providing a network of shared e-scooters that can be easily accessed on a pay-per-use basis. The company promotes responsible parking by incentivizing users to return scooters to designated parking spots, thereby minimizing clutter on city streets. By leveraging Internet of Things technology, Beam contributes to improved last-mile connectivity, helps alleviate traffic congestion, and supports environmental sustainability efforts.

Rox Motor

Series C in 2021
ROX Motor is a company dedicated to the development of off-road new energy vehicles, specializing in innovative technologies that enhance smart car capabilities. The firm focuses on research and development in several key areas, including new energy power systems, intelligent cockpit designs, and autonomous driving solutions. By providing advanced product definitions and core intelligence technologies, ROX Motor aims to improve the overall quality of products within the new energy vehicle industry, catering to the growing demand for environmentally friendly and technologically advanced transportation options.

HT Aero

Series A in 2021
HT Aero aspires to be the pioneer of urban air mobility (UAM) and is dedicated to producing safe and intelligent electric flying vehicles. which combine automotive and aerospace technologies to realize domestic air-travel usage at scale.

MetaX

Seed Round in 2021
Muxi is dedicated to providing full-stack GPU chips and heterogeneous computing solutions that can be widely used in cutting-edge fields such as artificial intelligence, smart cities, data centers, cloud computing, autonomous driving, digital twins, metaverse, and so on. It builds full-stack GPU chip products, launching MXN series GPUs (Xi Si) for AI reasoning, MXC series GPUs (Xi Yun) for AI training and general computing, and MXG series GPUs (Xi Cai) for graphics rendering, Meet the computing power requirements of data centers for "high energy efficiency" and "high versatility". Mu Xi's products all use independently developed GPU IP, have instruction sets and architectures with completely independent intellectual property rights, and are outfitted with a complete software stack (MACAMACA) compatible with mainstream GPU ecosystems. In September 2020, the company was founded in Shanghai, and it has wholly-owned subsidiaries and R&D centers in Beijing, Nanjing, Chengdu, Hangzhou, Shenzhen, and Wuhan.

Jiangxing Intelligence

Series A in 2020
Jiangxing Intelligence Inc., founded in 2018 and headquartered in Beijing, China, specializes in the development and operation of artificial intelligence-driven cloud-side collaborative Internet of Things (IoT) devices. The company provides innovative solutions such as EdgeBox, which facilitates real-time processing of big data and AI for industrial sectors, including manufacturing, oil and gas, hydropower, transportation, mining, renewable energy, and smart cities. Additionally, Jiangxing Intelligence offers the Ubiquitous Wisdom Eye, an intelligent monitoring device designed for transmission lines that integrates data from various sensors to create a comprehensive supervision platform. Founded by Professor Liu Jiangchuan, a recognized academician and IEEE Fellow, the company is dedicated to advancing edge computing technology and its applications in energy, industrial security, and intelligent warehousing. With additional offices in Shenzhen and Nanjing, Jiangxing Intelligence aims to enhance operational efficiency and safety in large-scale systems across multiple industries.

Beam

Series A in 2020
Beam Mobility Holdings Pte. Ltd. is a micro-mobility company that offers electric scooters for rent through a user-friendly mobile application. Established in 2018 and based in Singapore, Beam aims to enhance urban mobility by providing a network of shared e-scooters that can be easily accessed on a pay-per-use basis. The company promotes responsible parking by incentivizing users to return scooters to designated parking spots, thereby minimizing clutter on city streets. By leveraging Internet of Things technology, Beam contributes to improved last-mile connectivity, helps alleviate traffic congestion, and supports environmental sustainability efforts.

Bouffalo Lab

Series B in 2020
Bouffalo Lab is a semiconductor chip design company based in Shanghai, China, specializing in integrated Wi-Fi chipsets and a comprehensive range of Internet of Things (IoT) solutions. The company's semiconductor products cater to various applications, including smart homes, smart cities, intelligent manufacturing, and robotics. Additionally, Bouffalo Lab's chips are utilized in communication equipment, in-vehicle intelligent systems, and wearable devices, enabling efficient low-power wireless microcontrollers and application processor platforms. Through its innovative offerings, Bouffalo Lab supports the development of advanced technologies across multiple sectors.

Bounce

Series D in 2020
Bounce (formerly known as Metro Bikes) is a smart mobility solution, with a mission of making daily commute stress-free, time-saving, reliable, and convenient. With a breakthrough technology that lets users access the bike with just an OTP, the Keyless bikes, have not only done away with keys, but the whole process of renting a bike has just become devoid of any physical or human intervention. With Bounce's new One Way Rental service, users can now pick up and drop the bike anywhere they need to and be done with the ride. This is aimed at providing a seamless first mile and last-mile connectivity to metro users. Founded in 2014, Bounce aims at decongesting the roads by encouraging commuters to choose public transport by delivering convenient options to rent bikes and reach their destinations from metro stations. It is based in Bangalore, India.

Jiangxing Intelligence

Series A in 2019
Jiangxing Intelligence Inc., founded in 2018 and headquartered in Beijing, China, specializes in the development and operation of artificial intelligence-driven cloud-side collaborative Internet of Things (IoT) devices. The company provides innovative solutions such as EdgeBox, which facilitates real-time processing of big data and AI for industrial sectors, including manufacturing, oil and gas, hydropower, transportation, mining, renewable energy, and smart cities. Additionally, Jiangxing Intelligence offers the Ubiquitous Wisdom Eye, an intelligent monitoring device designed for transmission lines that integrates data from various sensors to create a comprehensive supervision platform. Founded by Professor Liu Jiangchuan, a recognized academician and IEEE Fellow, the company is dedicated to advancing edge computing technology and its applications in energy, industrial security, and intelligent warehousing. With additional offices in Shenzhen and Nanjing, Jiangxing Intelligence aims to enhance operational efficiency and safety in large-scale systems across multiple industries.

Bounce

Series C in 2019
Bounce (formerly known as Metro Bikes) is a smart mobility solution, with a mission of making daily commute stress-free, time-saving, reliable, and convenient. With a breakthrough technology that lets users access the bike with just an OTP, the Keyless bikes, have not only done away with keys, but the whole process of renting a bike has just become devoid of any physical or human intervention. With Bounce's new One Way Rental service, users can now pick up and drop the bike anywhere they need to and be done with the ride. This is aimed at providing a seamless first mile and last-mile connectivity to metro users. Founded in 2014, Bounce aims at decongesting the roads by encouraging commuters to choose public transport by delivering convenient options to rent bikes and reach their destinations from metro stations. It is based in Bangalore, India.

Univers.

Funding Round in 2019
Univers is a developer of an AIoT operating system that connects and manages smart devices and energy assets on a global scale. By leveraging artificial intelligence and Internet of Things technology, Univers provides a comprehensive platform for monitoring and managing assets, energy, and carbon emissions. The company's software delivers advanced analytics, forecasting, and actionable insights, allowing organizations to optimize their energy systems and enhance portfolio performance. With a focus on facilitating decarbonization, Univers supports companies and countries in reducing carbon emissions through accurate and reliable data management.

Bounce

Series B in 2019
Bounce (formerly known as Metro Bikes) is a smart mobility solution, with a mission of making daily commute stress-free, time-saving, reliable, and convenient. With a breakthrough technology that lets users access the bike with just an OTP, the Keyless bikes, have not only done away with keys, but the whole process of renting a bike has just become devoid of any physical or human intervention. With Bounce's new One Way Rental service, users can now pick up and drop the bike anywhere they need to and be done with the ride. This is aimed at providing a seamless first mile and last-mile connectivity to metro users. Founded in 2014, Bounce aims at decongesting the roads by encouraging commuters to choose public transport by delivering convenient options to rent bikes and reach their destinations from metro stations. It is based in Bangalore, India.

Leapmotor

Series A in 2018
Zhejiang Leapmotor Technology Co., Ltd. is an innovative electric vehicle manufacturer based in Hangzhou, China, founded in 2015. The company specializes in the design, research and development, and production of new energy vehicles. It focuses on intelligent electric vehicle technologies, including intelligent driving, motor electronic control, and battery system development. Leapmotor leverages the financial backing and technological expertise of its primary investor, Zhejiang Dahua Technology Co., Ltd., to enhance its research capabilities and quality management processes. The company is committed to technological innovation and industrial design, emphasizing a strong engineering culture to drive its advancements in the electric vehicle sector.

Beam

Seed Round in 2018
Beam Mobility Holdings Pte. Ltd. is a micro-mobility company that offers electric scooters for rent through a user-friendly mobile application. Established in 2018 and based in Singapore, Beam aims to enhance urban mobility by providing a network of shared e-scooters that can be easily accessed on a pay-per-use basis. The company promotes responsible parking by incentivizing users to return scooters to designated parking spots, thereby minimizing clutter on city streets. By leveraging Internet of Things technology, Beam contributes to improved last-mile connectivity, helps alleviate traffic congestion, and supports environmental sustainability efforts.

Bounce

Series A in 2018
Bounce (formerly known as Metro Bikes) is a smart mobility solution, with a mission of making daily commute stress-free, time-saving, reliable, and convenient. With a breakthrough technology that lets users access the bike with just an OTP, the Keyless bikes, have not only done away with keys, but the whole process of renting a bike has just become devoid of any physical or human intervention. With Bounce's new One Way Rental service, users can now pick up and drop the bike anywhere they need to and be done with the ride. This is aimed at providing a seamless first mile and last-mile connectivity to metro users. Founded in 2014, Bounce aims at decongesting the roads by encouraging commuters to choose public transport by delivering convenient options to rent bikes and reach their destinations from metro stations. It is based in Bangalore, India.

Leapmotor

Seed Round in 2018
Zhejiang Leapmotor Technology Co., Ltd. is an innovative electric vehicle manufacturer based in Hangzhou, China, founded in 2015. The company specializes in the design, research and development, and production of new energy vehicles. It focuses on intelligent electric vehicle technologies, including intelligent driving, motor electronic control, and battery system development. Leapmotor leverages the financial backing and technological expertise of its primary investor, Zhejiang Dahua Technology Co., Ltd., to enhance its research capabilities and quality management processes. The company is committed to technological innovation and industrial design, emphasizing a strong engineering culture to drive its advancements in the electric vehicle sector.

Meituan Bike

Series E in 2017
Meituan Bike, previously known as Mobike, is a Chinese bicycle-sharing service that operates a fully station-less model. Founded in January 2015 by Davis Wang Xiao Feng, Hu Wei Wei, and Xia Yi Ping, the company is headquartered in Beijing. Meituan Bike allows users to easily locate and rent bicycles through a mobile application, facilitating convenient transportation for short urban trips. The bicycles are equipped with smart locks and can be reserved via the app, offering a seamless user experience. In April 2018, the company was acquired by Meituan-Dianping for $2.7 billion and was rebranded as Meituan Bike in January 2019 as part of the integration process. The service has grown significantly since its inception, contributing to the development of urban mobility solutions in China.

YITU

Series C in 2017
Yitu Limited is a prominent artificial intelligence company based in Shanghai, China, founded in 2012. The firm specializes in the research and development of AI solutions across various sectors, including smart cities, healthcare, and commerce. Yitu focuses on areas such as machine vision, natural language understanding, and intelligent hardware, seeking to create comprehensive solutions that enhance operational efficiency and drive innovation. The company offers a range of products, including AI infrastructure for city management, medical diagnostic technologies, and applications for smart finance and retail. With a strong emphasis on fundamental research, Yitu aims to deliver breakthroughs that expand the potential of AI and contribute to a safer, faster, and healthier world. Its advanced R&D team is dedicated to transforming industries by integrating AI technologies into practical business applications.

Xiaodian

Series B in 2017
Xiaodian Group, established in December 2016, is a technology-driven company specializing in mobile charging services. Utilizing advanced Internet of Things technology, it has developed a network that spans over 2,700 cities across China, catering to more than 450 million users. The company offers a range of products, including vending machines and mobile charging devices, strategically placed in high-traffic locations such as urban shopping centers, hotels, cinemas, airports, and high-speed rail stations. Xiaodian's services are designed to address various consumer needs across different scenarios, allowing users to conveniently charge their smartphones using QR code access. This comprehensive charging service network enhances the quality of life for users by providing seamless access to charging solutions in everyday environments.

Meituan Bike

Series D in 2017
Meituan Bike, previously known as Mobike, is a Chinese bicycle-sharing service that operates a fully station-less model. Founded in January 2015 by Davis Wang Xiao Feng, Hu Wei Wei, and Xia Yi Ping, the company is headquartered in Beijing. Meituan Bike allows users to easily locate and rent bicycles through a mobile application, facilitating convenient transportation for short urban trips. The bicycles are equipped with smart locks and can be reserved via the app, offering a seamless user experience. In April 2018, the company was acquired by Meituan-Dianping for $2.7 billion and was rebranded as Meituan Bike in January 2019 as part of the integration process. The service has grown significantly since its inception, contributing to the development of urban mobility solutions in China.

Meituan Bike

Series C in 2016
Meituan Bike, previously known as Mobike, is a Chinese bicycle-sharing service that operates a fully station-less model. Founded in January 2015 by Davis Wang Xiao Feng, Hu Wei Wei, and Xia Yi Ping, the company is headquartered in Beijing. Meituan Bike allows users to easily locate and rent bicycles through a mobile application, facilitating convenient transportation for short urban trips. The bicycles are equipped with smart locks and can be reserved via the app, offering a seamless user experience. In April 2018, the company was acquired by Meituan-Dianping for $2.7 billion and was rebranded as Meituan Bike in January 2019 as part of the integration process. The service has grown significantly since its inception, contributing to the development of urban mobility solutions in China.

Nio

Series B in 2016
Nio is a Chinese electric vehicle manufacturer that designs, manufactures, and sells premium smart electric vehicles globally. Founded in 2014, Nio offers a range of SUVs with varying seating capacities, along with innovative charging solutions such as battery swapping services and mobile charging trucks. The company also provides value-added services like insurance packages, maintenance, and roadside assistance. Nio collaborates with industry leaders for autonomous driving technologies and manufactures its vehicles through strategic partnerships. As of 2023, Nio has sold over 160,000 electric vehicles in China alone, capturing approximately 2% of the market share for new energy passenger vehicles.

Nio

Series A in 2015
Nio is a Chinese electric vehicle manufacturer that designs, manufactures, and sells premium smart electric vehicles globally. Founded in 2014, Nio offers a range of SUVs with varying seating capacities, along with innovative charging solutions such as battery swapping services and mobile charging trucks. The company also provides value-added services like insurance packages, maintenance, and roadside assistance. Nio collaborates with industry leaders for autonomous driving technologies and manufactures its vehicles through strategic partnerships. As of 2023, Nio has sold over 160,000 electric vehicles in China alone, capturing approximately 2% of the market share for new energy passenger vehicles.

YITU

Series A in 2015
Yitu Limited is a prominent artificial intelligence company based in Shanghai, China, founded in 2012. The firm specializes in the research and development of AI solutions across various sectors, including smart cities, healthcare, and commerce. Yitu focuses on areas such as machine vision, natural language understanding, and intelligent hardware, seeking to create comprehensive solutions that enhance operational efficiency and drive innovation. The company offers a range of products, including AI infrastructure for city management, medical diagnostic technologies, and applications for smart finance and retail. With a strong emphasis on fundamental research, Yitu aims to deliver breakthroughs that expand the potential of AI and contribute to a safer, faster, and healthier world. Its advanced R&D team is dedicated to transforming industries by integrating AI technologies into practical business applications.
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