Lin Junyang Reveals Business Direction of AI Startup Pragmatik Labs

Lin Junyang, former Chief Technology Officer of Qwen, has officially unveiled the Shanghai-based AI startup Pragmatik Labs. The company has positioned next-generation AI agents that bridge the digital and physical worlds as its core business. Blockbeats reported on the 12th that the company's English name is Pragmatik Labs, and its abbreviation is p7k. As of now, no specific models or products have been disclosed on the website. Lin Junyang revealed the company's name and business direction about five months after leaving Alibaba in March. He previously stated that Pragmatik Labs is researching AI agents that encompass both the digital and physical worlds. Lin Junyang also mentioned that Gaoling Capital and HSG co-led this investment round, with participation from Tencent and the Shanghai Future Industry Fund. The Information reported in June that the first investment round was worth hundreds of millions of dollars, with Gaoling Capital and HSG each investing about $100 million, and Tencent contributing approximately $20 million. Following the investment, the company's valuation was estimated at around $2 billion. AI agents are artificial intelligence systems that autonomously make judgments and execute tasks or transactions to achieve goals. In the virtual asset industry, there is a growing movement to establish dedicated wallets and payment infrastructure that enable AI agents to perform payments and transactions. However, the business direction disclosed by Pragmatik Labs did not include any direct references to blockchain, tokens, or virtual asset payment infrastructure.