TMTPOST — Lin Junyang, the former technical lead of Alibaba’s Qwen models, has founded Pragmatik Labs in Shanghai and closed an angel round at a $2 billion valuation. Gaorong Capital and HongShan (formerly Sequoia China) co-led the financing, with participation from Tencent and the Shanghai Future Industry Fund. The round, valued at approximately $2 billion post-money, is reported to have raised several hundred million dollars. The company, also known as Yuyong Technology or p7k, focuses on next-generation agents that operate across digital and physical environments. Lin, who left Alibaba in March after leading Qwen’s development and open-source efforts, positions the startup to build agents capable of knowledge work, business workflows and embodied long-horizon tasks in the real world. The high early valuation reflects investor confidence in bridging foundation-model expertise with practical agent systems for both software and robotics applications.