Hangzhou's Nano-core Chip raises over RMB 1 billion in Series C2 round

Hangzhou-based AI inference chip developer Nano-core Chip has raised more than RMB 1 billion in Series C2 funding, the company announced on October 28. The round was led by JianTou Investment, with participation from Hangzhou Capital, Kaitai Capital, Xiaochi Capital, Yantai Caijin, Shengkun Investment, SDIC Taikang, Lingyang Fund and other investors, alongside follow-on investment from several existing shareholders. TechNode reported the round on October 30.

A three-dimensional compute-in-memory design

Founded in 2021 and incubated at a Peking University research institute in Zhejiang, Nano-core Chip is building what it describes as a first-of-its-kind three-dimensional compute-in-memory (3D-CIM) architecture, combining 3D near-memory computing, SRAM-based in-memory computing and RISC-V heterogeneous computing. The chips target large-model inference across cloud, edge and device scenarios, and the company says the design achieves advanced-process-equivalent performance using mature domestic manufacturing processes.

Funding and production timetable

The proceeds will fund product development and preparation for volume production. The company's first three chips, in its LP-CIM and PCIe-CIM series, have all completed tape-out, with customer sampling and initial volume shipments planned for early 2027. Together with a RMB 1 billion Series C1 round announced in September, the company has raised more than RMB 2 billion in two months and RMB 3 billion in six months. The valuation of the latest round was not disclosed.