China's Moffett AI Raises Nearly RMB 1 Billion in Series C+ Round, Betting on Sparse-Computing Inference Chips

Shenzhen-based AI inference chip developer Moffett AI announced on November 3 that it had completed a Series C+ financing round of nearly RMB 1 billion. According to TechNode, citing PE Daily, investors included Renai Capital, Haitang Fund, Dongheng Petroleum, Biqiu Capital, Paila Capital and Zhongcai Capital, among other industrial and financial investors. (Photo: file image illustrating an AI chip.)

Sparse computing: fewer calculations, lower cost

Moffett AI's approach is sparse computing: exploiting sparsity in data and operations during model inference to skip unnecessary calculations, reducing inference costs and improving AI infrastructure efficiency. The company said it has deployed inference clusters across four regions in China and partnered with telecommunications operators; its next-generation SP200 accelerator card is scheduled to arrive before the end of the year.

Two rounds in about six months, totalling nearly RMB 2 billion

Notably, Moffett AI completed another round of nearly RMB 1 billion about five months earlier, bringing the two rounds to nearly RMB 2 billion combined. The reports did not disclose a valuation for this round and named only some investors; fundraising momentum alone does not prove large-scale deployment, and the SP200's real-world performance and customer adoption remain to be verified.

Sources: TechNode (2026-11-03); TechStartups (2026-11-03).