Zhejiang XiWang Smart Tech Raises RMB 2 Billion at Near-Doubled Valuation
AI inference chip maker Zhejiang XiWang Intelligent Technology has completed a RMB 2 billion funding round at a post-money valuation of about RMB 20 billion, nearly double its previous round in April 2026. The company's valuation has quadrupled within a year amid surging domestic chip demand. Investors include insurers, asset managers, and strategic backers such as CP Group and 37 Interactive Entertainment.
Zhejiang XiWang Intelligent Technology Co. , Ltd. ("XiWang"), an AI inference chip company, has recently completed a new funding round of RMB 2 billion, at a post-money valuation of approximately RMB 20 billion. This valuation is nearly double that of its previous round completed in April 2026. As demand for domestic chips rapidly expands, XiWang's valuation has quadrupled within a year. In comparison, Enflame, which is set to list on the STAR Market in September, was valued at RMB 18.2 billion in its final funding round in 2025.
Investors in this round include PICC Equity, CCB Equity, Orient International Asset, Janchor Partners, CASSTAR, Cowin Capital, Evolution Capital, Linxin Investment, Yida Capital, Lakeside Fund, Honghui Fund, and other investment institutions, as well as strategic investors such as CP Group, Andon Health, Yingfeng Environment, 37 Interactive Entertainment, and Tongcheng Travel.