Two rounds of financing secured within three months, the Chinese counterpart of Palantir has gained explosive popularity.

It is learned by 36Kr AI that recently, Beijing Zhongshu Ruizhi Technology Co., Ltd. (hereinafter referred to as "Zhongshu Ruizhi"), a domestic industrial-grade causal intelligence and high-reliability decision-making AI vendor, announced the completion of a strategic financing of several hundred million yuan. This round of financing was jointly invested by China Internet Investment Fund (hereinafter referred to as CIIF), Suzhou Venture Capital, National Council for Social Security Fund, Financial Street Capital, ICBC Capital, Kunlun Capital and other institutions, with existing shareholders continuing to increase their follow-on investment.

Just three months ago, Zhongshu Ruizhi had just completed a Series B financing of hundreds of millions of yuan.

The two large-scale financings landed consecutively in a short cycle not only represents high recognition from the capital market for its underlying original technologies and large-scale implementation achievements, but also marks that this AI enterprise regarded as "China's Palantir" in the industry has officially entered a new development stage of accelerated technology iteration, large-scale scenario replication and large-scale performance release. Such a rise speed can be called an epitome of the explosion of China's AI intelligent market.

Female Doctor from Tsinghua University

Building the "China's Palantir"

The founding team of Zhongshu Ruizhi originated from Tsinghua University, led by Dr. Han Han, the chairman of the board, and is rooted in Zhongguancun, Haidian District.

She is a doctor from the Department of Electronic Engineering of Tsinghua University, a senior visiting scholar of Columbia University. She has been deeply engaged in data engineering and AI algorithms during her study in Tsinghua University, and joined the China Academy of Information and Communications Technology (CAICT) after graduation. During that period, Han Han once deeply participated in the top-level design of national big data and artificial intelligence, and was a core drafting member of a number of national policies; at the same time, she holds dozens of invention patents, and has long tracked the global AI technology and industrial trends.

At the end of 2019, when large model technology began to emerge globally, Han Han perceived new opportunities, resolutely devoted herself to the industry, and officially founded Zhongshu Ruizhi in April 2020 — taking "Let AI move from the digital world to the physical world" as its mission, deeply engaged in the high-reliability, strong decision-making industrial AI track, and focusing on the full-stack infrastructure of enterprise-level AI Agent.

At that time, the team needed to solve a world-class problem: China has the world's most complex and largest energy and industrial system, which has accumulated a huge amount of data that is difficult to be effectively utilized. The existing data infrastructure is designed for human analysts, which cannot meet the needs of AI Agent for complex decision-making, and there is even no mature technical model for reference overseas.

Therefore, Zhongshu Ruizhi needs to build a new intelligent operating system for these key industries through independent innovation without any precedent.

Since its establishment, Zhongshu Ruizhi has gathered a large number of master and doctor talents who are deeply engaged in the fields of complex system modeling and industrial energy AI, and has the composite capabilities of original innovation at the underlying model technology, cutting-edge theoretical research and actual combat in large-scale industrial scenarios — the most distinct label of this team is not only "top academic master", but also "the AI craftsman who knows the industry best".

Technological breakthrough is the real killer feature. Relying on the three independent underlying technologies of original meta-cognitive causality theory, causal model and dynamic ontology engine, Zhongshu Ruizhi directly solves the long-term unsolved industry pain points of generative large models: AI hallucination, insufficient deduction ability, missing time sequence logic, unverifiable decision-making, and multi-source rule conflict, which truly provides credible, interpretable and closed-loop executable intelligent decision-making capabilities for industrial scenarios.

Specifically, general large models learn the correlations in massive texts, just like remembering countless on-site photos, and guess the rules through phenomena; while the causal model masters the interaction relationship between equipment and processes, just like getting the schematic diagram of the device. Photos allow you to recognize the scenes you have seen, and the schematic diagram allows you to judge what will happen in unseen situations. In scenarios with extremely low fault tolerance rates such as energy dispatch, work safety, and high-end manufacturing, it can predict changes and deduce consequences, making every AI decision well-founded, controllable and traceable.

Causal Model Product Matrix

In addition to technology, Zhongshu Ruizhi is also actively participating in the top-level construction of the industry. The original meta-causal cognition theory of the company fills the gap in the underlying theory of credible AI for complex industries in China; at the 2026 WAIC World Artificial Intelligence Conference, Zhongshu Ruizhi officially released the Blue Book of Causal World Model Technology System, promoting the establishment of consensus on industrial credible AI evaluation, and having industry discourse power in the next-generation physical AI track.

During that period, investors also came in droves.

What is impressive is that in 2025, Zhongshu Ruizhi completed a 200 million yuan Series A+ financing, jointly led by CDH VGC and Beijing AI Fund, with follow-on investment from Taiya Investment, Xiangcheng Financial Holding, Sichuan Cultural Investment and other institutions, which became one of the largest financings in the domestic enterprise-level agent track at that time.

Less than a year later, Zhongshu Ruizhi completed another Series B financing of hundreds of millions of yuan, jointly led by Tsinghua Control Golden Letter Capital, Yuanhe Chongyuan and Shangxianhu Fund, with follow-on investment from Guangdong Expressway, and the old shareholder CDH VGC continued to increase its stake.

Now, with the support of multiple national-level shareholders, Zhongshu Ruizhi will further open the closed loop of "underlying technology original innovation - production scenario implementation - global market expansion", opening sufficient space for long-term growth.

Why did CIIF place its bet?

Commercial implementation is the best touchstone of technical barriers.

Relying on core technologies and product systems, Zhongshu Ruizhi has become one of the first domestic enterprise-level agent operating system vendors to achieve large-scale commercial implementation: up to now, it has served more than 50 central SOEs, state-owned enterprises and industrial group clients in the fields of electric power, petroleum, aerospace and other industries, and landed more than 800 high-complexity production scenarios, and its cross-industry product capabilities have undergone strict actual combat tests.

In terms of operation quality and company development, Zhongshu Ruizhi has jumped out of the dilemma of most AI startups that "focus on concepts, have weak implementation, and rely on financing for blood transfusion" — it has achieved leapfrog growth at the commercial level, doubled its revenue in 2025, and built a fundamental surface with high technical barriers, high customer repurchase rate and high performance certainty.

In other words, Zhongshu Ruizhi already has strong self-sustaining capability, which is quite scarce among the new generation of AI enterprises.

From the technical paradigm, product architecture, service mode to core customer groups, Zhongshu Ruizhi is highly aligned with the world-famous industrial decision-making platform Palantir and has achieved technological transcendence. It is also one of the few hard technology enterprises in China that can deliver 10 million-yuan level pure software AI projects in batches.

For this round of financing, Dr. Han Han, founder and chairman of Zhongshu Ruizhi, said that the funds will be mainly invested in three directions: first, continue to tackle cutting-edge basic theories, iterate causal models to improve the original innovation of the basic model layer, build a full-stack localized intelligent base, and thicken the technical moat; second, replicate mature benchmark applications, broaden the market territory of main tracks, and expand the scope of overseas service countries at the same time, so as to promote the steady growth of revenue scale; third, continue to introduce high-end talents, realize leapfrog improvement of the organization, and output high-quality industrial AI capabilities.

At present, the AI industry is ushering in an important inflection point — the industry has bid farewell to the traffic competition of general large models competing for the ability to polish words, and industrial AI that can truly enter the real industry, assist key decision-making and create real industrial value is becoming the direction jointly favored by policies and capital.

As the investor CIIF of this round of financing said, at the turning point of the era when artificial intelligence moves from the ability competition of general large models to the deep empowerment of the real industry, industrial-grade causal intelligence is an important part of building the digital base of Chinese path to modernization and cultivating new quality productive forces.

"China has the world's most complex and stringent decision-making scenarios for key infrastructure, and has the most urgent demand for credible, interpretable and closed-loop executable decision-making AI. The high-reliability decision-making AI products of Zhongshu Ruizhi have completed large-scale commercial implementation in core fields such as electric power, petroleum and aerospace. CIIF will continue to support the company's underlying theoretical original innovation and ecological construction, promote close cooperation between local enterprises and central SOEs, as well as key industries such as energy and high-end manufacturing, define the decision-making paradigm and credibility standards of industrial intelligence from the underlying level, and jointly promote China to win the rule-making discourse power in the global physical AI track, and safeguard the security of key infrastructure and serve the construction of a cyberpower with the new generation of independent and controllable AI base."

The vane implication is self-evident.

This article is from the WeChat official account "36Kr AI", author: Yang Jiyun, published by 36Kr with authorization.