- Yangtze River Delta startups in semiconductor, fusion and AI-for-science spaces continue to draw fresh capital
- New funding targets chip production, stellarator development and AI-driven scientific research
Geener Microelectronics raises $94 million in Series C funding
Hangzhou-based power and AI semiconductor company Geener Microelectronics (晶能微电子) has raised 630 million yuan ($94 million) in a Series C round, with investors undisclosed.
The financing marks the company’s fifth funding round in four years, bringing its total funding to nearly 2 billion yuan.
A semiconductor platform under Geely Technology Group, Geener develops automotive-grade power modules, AI-grade SST modules, embedded SSCB modules and multi-chip tantalum capacitors.
The new funds will go toward product R&D, production-line construction, upgrades to reliability-testing and validation facilities, and market expansion.
Honghu Fusion closes new funding to scale stellarator
Shanghai-based stellarator fusion company Honghu Fusion (鸿鹄未来能源) has raised hundreds of millions of yuan in a financing round backed by a consortium of investors.
They included Shanghai Engine Fund, Social Security Fund Zhongguancun Innovation Fund, Shanghai Jiao Tong University Fund of Funds, Fortera Capital and Minhang Financial Holdings, among others. Early investor Dai Lizhong (戴立忠) also participated in the round.
The company is working with Shanghai Jiao Tong University through a joint laboratory to develop the Honghu Zhiyuan-1 (鸿鹄致远一号) high-temperature superconducting stellarator, which is scheduled for completion in 2028 and aims to become one of the world’s first experimental facilities of its kind.
Stellarators offer inherent advantages for steady-state, continuous power generation and avoid the risk of major plasma disruptions, but their complex three-dimensional magnetic-field designs and superconducting-coil manufacturing present significant engineering challenges.
AI4S startup Hours Tech nets $15 million over the past year
Suzhou-based AI-for-science company Hours Technology (沃时科技) has completed multiple funding rounds totaling more than 100 million yuan ($14.9 million) over the past year, with investments from Sinochem Capital, Hiway Capital, Even Capital, Suzhou Capital Group, Suzhou New Development Group, Prospect Bridge, Hangxin Capital and Dymatic, among others.
The company has built what it describes as a leading structured chemical database in China, alongside a full-stack AI Scientist model covering molecular design, reaction prediction and synthesis-route planning.
It has also developed automated laboratory platforms ranging from milligram- to kilogram-scale experiments, creating a closed loop from AI-driven design to automated execution, data feedback and model improvement.
Hours Technology said its revenue has doubled for two consecutive years while remaining at break-even. Several subsidiaries of Sinochem Group are both investors and major users of its technology.
