XiWang Raises RMB 2B, Valued at RMB 20B Post-Money

Zhejiang XiWang Intelligent Technology Co., Ltd. (shortened as "XiWang") recently announced the completion of a new RMB 2 billion financing round, valuing the company post-investment at approximately RMB 20 billion—nearly double its valuation from its previous funding round in April 2024. Investors in this round include institutional investors such as PICC Equity, CCB Equity, and Orient International Asset Management, as well as strategic investors like CP Group and iHealth Labs. XiWang specializes in the research and development of AI inference chips, and the proceeds from this financing will be used to ramp up R&D investment and accelerate product iteration.