- Yangtze River Delta tech companies spanning quantum computing, semiconductors, Micro LED displays and fusion raised fresh capital
- The deals back breakthroughs from fault-tolerant quantum systems and advanced chip packaging to next-generation displays and superconducting technologies
Taiyi Quantum raises over 1 billion yuan in eight months
Shanghai-based quantum computing company Taiyi (太一量生) has completed a new funding round, bringing its cumulative financing to more than 1 billion yuan ($149 million) in just over eight months since its establishment.
The company has rapidly grown into a unicorn, according to the announcement.
New investors include Jinqiu Capital, Cederlake Capital, Horizon Investment, CDHT Vision Fund and Lingang Frontier Investment. Existing investors TH Capital, Hengxu Capital, BioTrack Capital, Gaomai Capital and Y&R Capital also participated.
Taiyi focuses on neutral-atom quantum computing using ytterbium (Yb) atoms, with the goal of developing large-scale fault-tolerant quantum computers.
The new capital will support recruitment of research talent, development of quantum error correction and system-engineering capabilities, and expansion of industry partnerships and the open-source ecosystem.
Keyang Semiconductor receives 200 million yuan from Xiaomi-backed fund, Shanghai state capital
Suzhou-based Keyang Semiconductor (科阳半导体) has secured a 200-million-yuan ($29.9 million) strategic investment from a consortium comprising the Xiaomi-affiliated smart manufacturing fund and the second phase of the Shanghai Semiconductor Materials Fund.
The consortium won a bid for a 16% stake in the company. Each investor plans to contribute 100 million yuan to acquire an 8% stake.
The transaction remains subject to shareholder approval and approval from the relevant state-owned assets regulator.
Keyang is a core supplier to leading domestic semiconductor companies and a major domestic supplier of sensors and filters.
It specializes in developing and mass-producing advanced semiconductor packaging and testing technologies, with wafer-level packaging product lines spanning 4-inch, 6-inch, 8-inch and 12-inch wafers.
Its capabilities include through-silicon via (TSV), wafer-level chip-scale packaging (WLCSP), bumping, and wafer probing and final testing (CP/FT).
MicroLED display startup Vijo nets hundreds of millions of yuan in pre-Series A
Suzhou-based MicroLED microdisplay maker Vijo (微玖光电) has raised hundreds of millions of yuan in a pre-Series A round.
The round was co-led by Beijing New Materials Industry Investment Fund and Changjiang Securities Venture. Other investors include listed company NRB Corporation, Foshan Southchip Fund, Wuhan Optics Valley Hi-Tech Innovation Venture and Findowin Capital.
Founded in December 2023, Vijo develops and manufactures high-performance monochrome red, green and blue MicroLED displays, as well as full-colour screens, for premium microdisplay applications including augmented-reality glasses and in-vehicle displays.
Its 0.13-inch green MicroLED microdisplay, showcased at the 2026 China International Optoelectronic Exposition in September, delivers a peak brightness of 6 million to 7 million nits. The product has already entered mass production and shipment.
Vijo will allocate all proceeds to production-line construction, core process improvements and fulfilling volume orders from key customers in China and overseas, laying the groundwork for further capacity expansion.
Xihe Superconducting Technologies completes Series C financing
Hefei-based Xihe Superconducting Technologies (曦合超导科技) has completed a Series C financing round.
Tianzheng Investment, a wholly owned subsidiary of China Merchants China Direct Investment, invested 45 million yuan ($6.72 million). The investment was completed on September 24.
Xihe focuses on technologies for magnetic coils used in stellarators, a type of device designed to confine plasma for controlled nuclear fusion.
In September, the company received a patent grant for a precision scanning and measurement device and method for detecting curvature deformation in stellarator magnetic coils. It also published a patent application for a high-temperature superconducting cable testing device.
