- MEMS startup raises new capital to scale microfluidic cooling components
- Backers expand into data center thermal management and automotive applications
Hengmicro (恒脉微), a Chinese MEMS microfluidics startup, has completed a Series A+ funding round, with participation from Xiaomi’s venture capital and Shunwei Capital, giving the two investors a combined stake of about 10%, according to people familiar with the deal.
The company did not disclose the valuation or total amount raised.
The funding, announced on June 2, will be used to develop and expand production of MEMS micro-pumps and related fluid-control components, with a focus on liquid cooling systems for servers and data center thermal management, Hengmicro said.
Founded in 2023 and based in Hangzhou, Hengmicro develops MEMS micro-pumps, micro-valves and integrated pump-valve devices used in fluid control applications spanning data centers, electric vehicles and medical equipment.
Core requirement
As demand for AI computing infrastructure surges, liquid cooling is increasingly shifting from an optional solution to a core requirement for data center design.
The round also roped in Shunwei Capital, the venture firm founded by Xiaomi founder Lei Jun, marking a rare instance where Xiaomi-linked capital and Shunwei have both taken stakes in the same company.
The move signals growing interest from industrial investors in microfluidic chips and thermal management technologies.
The involvement of Xiaomi-linked investors could help accelerate Hengmicro’s entry into consumer electronics, automotive systems and AI hardware applications, according to industry observers.
Medical-grade MEMS devices
Beyond data centers, Hengmicro said it will continue expanding into medical-grade MEMS devices and industrial control systems, while also pursuing domestic substitution opportunities in China’s high-end microfluidics market.
Earlier, the company was included in a “disruptive technology” investment program backed by Hangzhou state capital funds.
Hengmicro also counts Xia Zuoquan, co-founder of BYD, as a major early investor through his firm Zhengxuan Capital, which became one of its largest shareholders after investing in 2025.
Xia co-founded BYD in 1995 alongside current chairman Wang Chuanfu and Lyu Xiangyang, and later shifted his focus to venture capital after stepping down from executive roles in 2010.
Following the Xiaomi-backed investment, Zhengxuan Capital remained Hengmicro’s largest external shareholder with a 19% stake.
In automotive applications, Hengmicro’s micro-pump products have already entered supply chains of major EV manufacturers, including BYD, the company said.
Besides Zhengxuan and Xiaomi-related ventures funds, Hengmicro previously received investment from state-run Hangzhou STI Group’s Disruptive Technology Achievement Fund.
