CICC Capital has led a Series C funding round in Corealot Technology, while Shunwei Capital re-ups in Spirit AI’s angel round.
CICC Capital leads Corealot’s $41.8m funding round
Chinese chipmaker Corealot Technology has bagged 300 million yuan ($41.8 million) in a Series C funding round led by CICC Capital.
The round saw the participation of two state-backed investors including Guangzhou Zengcheng Industrial Investment and an investment fund affiliated with Zhongshan Torch High-tech Industrial Development Zone, per a company release on August 7.
The deal came after Corealot Technology, which also goes by the name Hexinhulian, secured “several millions of yuan” in a Series B round last April, participated by China Merchants Capital, Oriental Fortune Capital, and Huaqiang Ventures Capital.
Founded in 2018, the Beijing-based company has since designed more than 1,000 chip models for clock, data converters, voltage reference and other products. It will use the fresh proceeds to expand the use cases of its chip across sectors like satellite communications and artificial intelligence (AI).
Shunwei Capital reups in Spirit AI
Spirit AI, an Embodied Artificial Intelligence (AI) startup in China, has raised 200 million yuan ($27.9 million) in its seed and angel rounds, according to a company release on Tuesday.
The angel round was led by Highlight Capital (HLC), with the participation of Fibonacci VC and Fortune Venture Capital; while seed round investors including Shunwei Capital and Vitalbridge Capital also re-upped in the angel round, per a release on 12 August.
The two fundraising rounds were completed only six months after the company’s inception in February 2024.
