Zhipu AI invests in SiliconFlow and 42 other Greater China deals worth over $360m

Zhipu AI invests in SiliconFlow and 42 other Greater China deals worth over $360m

Chinese artificial intelligence (AI) unicorn Zhipu AI has invested in AI infrastructure firm SliconFlow, according to a company release on July 4. 

AI infrastructure refers to the software and hardware required to deploy and train the AI-powered applications and solutions — ranging from graphics processing units (GPU) to computing infrastructure platforms. 

Chinese cybersecurity firm 360 Security Technology and local investment firm Tsinghua Capital participated in the angel+ round. Existing backer Glory Ventures also re-upped in the round. 

The proceeds will help the Beijing-registered firm to accelerate its product innovation, per the release. 

Founded by Yuan Jinhui, former founder and CEO of open-source deep learning framework OneFlow in August 2023, SiliconFlow specialises in AI-specific software development, which enables developers to deploy their AI applications with greater flexibility and lower costs. 

The firm closed its 50 million yuan ($6.9 million) angel funding round in January this year led by local venture capital firm Sinovation Ventures. Participating investors of the round include Glory Ventures and MiraclePlus, among others. 

Chinese generative AI sector had a record 2023 when investors flocked to bet big on the country’s major generative AI projects including the likes of 01.AI, MiniMax, Zhipu AI, and Baichuan Intelligent Technology. 

Despite an aggregate of $1.4 billion of venture funding recorded in the Chinese AI sector in Q1, nearly $1 billion or 71.4% of the total funding went into Moonshot AI, according to a report released by data provider CB Insights.


DealStreetAsia has also compiled a table listing all prominent venture capital transactions in Greater China from July 1 –7, 2024.

Expand Table

StartupHeadquartersInvestment size (Million USD)Investment stageLead investor(s)Other investor(s)Industry/SectorVertical
URTOPIAShenzhen10AGuangyuan Hesheng Fund, Easy Click Worldwide Network Technology, Tongxiang City Jintong FundKongho Fund, Brizan Ventures, DCM Ventures, Gao Bingqiang (Individual Investor)Consumer ProductsMicro-Mobility
MoonBiotechGuangzhou41.3C+SDIC JULI (affiliated with State Development and Investment Group)BiotechBiotech
MingCelerGuangzhouPre-AGuangzhou Finance Holdings GroupBiotechBiotech
SenboelecSuzhou1.5*Pre-AHygoal CapitalAutomobiles & PartsElectric/Hybrid Vehicles
GlbizziaBeijing1.5*Pre-APuhua CapitalBiotechBiotech
JiuzongNingbo8.3B++Puhua CapitalSemiconductorN/A
Evolution TherapyBeijing1.5*AngelGalileo VentureBiotechBiotech
Garen SemiconductorHangzhou1.5*Pre-A Puhua CapitalSemiconductorN/A
New Green PowerTaipeiGoogleRenewable EnergyCleanTech
Yulun CompositesShanghai1.5*Pre-BGuiyang Venture Capital (Wholly-owned by Guiyang Industrial Investment)MaterialsN/A
Wecare ProbioticsSuzhouSuzhou International Development Venture Capital (SIDVC), China Merchants Capital, SDIC Unity CapitalBiotechBiotech
NovomoreChangshaAngelSunz FundHongfeng Jihua (红枫计划), Ningle GroupBiotechBiotech
Qingguan TechnologyBeijing1.5*AngelEverchanting FundMaterialsN/A
Laser StarcomBeijing1.5*Rongdao Investments (Affiliated with Yonyou Network Technology)SemiconductorN/A
Eplus3D Tech Hangzhou14*Bingzhuang Fund, SDIC Unity Capital, Findowin CapitalIndustrial Machinery3D Printing
Maxvax BiotechnologyChengdu41.3C+IDG CapitalHangkang Capital, Qianhai Ark Asset ManagementPharmaceuticalBiotech
Advanced Silicon TechnologyShanghaiCChengxin Fund (affiliated with Chongqing Liangjiang Equity Investment Management), Shanghai Integrated Circuit Industry Investment Fund II, Chongqing Industrial Investment Fund of Funds, Guoxin Investment, and othersSemiconductorN/A
Calterah Semiconductor TechnologyShanghai14*DGuoxin Venture Capital, Fujian Venture Investment Management, CMG-SDIC Capital, Walden InternationalSemiconductorElectric/Hybrid Vehicles
ASOcura PharmaceuticalsSuzhou14ASDIC Venture CapitalHerui Venture Capital PharmaceuticalBiotech
Appsoft TechnologyBeijingCMG-SDIC CapitalZhongguancun Gazella Fund ManagementSemiconductorN/A
Neusoft ShenyangStrategic InvestmentChina General Technology Group (Genertec), China SOE Mixed-ownership Reform FundMedical Devices & EquipmentN/A
EHO IntelligenceHefeiAngelHefei Innovation Scitech Venture Capital Logistics & DistributionN/A
LKtime BiotechZhongshan26.1B Zhongshan Investment Holdings Cuiheng Venture Investment, Xiwan Capital Healthcare ServicesBiotech
Decent PowerNanjingACDH Investments, HongShan (previously Sequoia Capital China)Industrial MachineryN/A
H-GreatShenzhen5.5AAutomobiles & PartsElectric/Hybrid Vehicles
China Resources Financial LeasingShenzhen68.7Strategic InvestmentGuangju Investment Holding Financial ServicesFintech Lending
Dadao Zhichuang TechnologyShenzhen0.7Initial Zhongguancun Science-Tech LeasingBusiness Support ServicesRobotics & Drones
Shangshang TechnologyShenzhenStrategic InvestmentBusiness Support ServicesAI and Machine Learning
CreativeFittingShanghai1*Pre-A+BaiduMediaAI and Machine Learning
Ti5 RobotShanghai1.5*Pre-APlum Ventures, MPC (previously known as Matrix Partners China), FOF CapitalBusiness Support ServicesRobotics & Drones
EtlChip/ Yitai Microelectronics TechnologyNanjingPre-A++Hatchip Investment, Delian Capital, Jucheng Capital, Yiqi Lihe (Affiliated with Leaguer Capital and FAW Group), Qianhai Pengchen Investment Management, and othersAutomobiles & PartsElectric/Hybrid Vehicles
ULS RoboticsShnghai1.5*A+Dunhong CapitalIndustrial MachineryRobotics & Drones
SiliconFlowBeijing14Angel+Zhipu AI, 360 Security Technology, Tsinghua Capital, Glory VenturesBusiness Support ServicesAI and Machine Learning
ClonorganChengdu1.5A+Dingzhou Yichuang BiotechBiotech
Lolai Technology/ Zxfans TechnologyShenzhen1.5*AConsumer ProductsN/A
iSaber Materials/ Qinghe Jingyuan Semiconductor TechnologyBeijing41.2Shenzhen Capital Group, Yuanzhi Xinghuo, Wuxi Chipown Micro-Electronics, Zhengwei Capital, and othersSemiconductorN/A
VolantShanghai14A+++Legend Capital (affiliated with Legend Holdings)AerospaceN/A
ChunhuoHuzhouA+Addor CapitalEnergy Storage & BatteriesN/A
SingleraYangzhou14Strategic InvestmentYangzhou Guojing Group, Yangzhou Dingyi (Managed by Jiangsu D&T Capital), Longchuan Holdings (Wholly Owned by Yangzhou Jianghuai Construction Development), and othersHealthcare ServicesBiotech
YanRong TechBeijing27.5B, B+B: Harvest Capital, B+: Beijing State-owned Capital Operation and Management CompanyGlory Ventures, G&O Capital, Sunyard TechnologySoftwareCloud Computing
Robint TechnologyBeijingB+Business Support ServicesRobotics & Drones
LiangDao IntelligenceBeijingChina Merchants Capital, E-town Capital Automobiles & PartsAutonomous Driving
Zhongchuang MediaBeijing2.7Pre-ABeijing Guoyun Chuangyan Information Technology Development Center, Zhongda Fanghong Asset Management MediaE-Commerce

Edited by: Padma Priya

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