"Fangqing Technology" has completed its Series A1 financing, with its valuation exceeding 10 billion yuan.

36Kr learned that recently, Fangqing Technology has closed its Series A1 financing round, pushing its valuation beyond 10 billion yuan. This financing round is led by Xuhui Capital and Zhuhai Science and Technology Industry Group, with participating investors including CICC Capital, Cathay Haitong Creative Investment, Shangshi Capital under iHealth, Shuimu Venture Capital, Mingjia Capital and other institutions. Existing shareholder Junshan Capital has made a significant additional investment, while Multi-Dimensional Capital, Huaye Tiancheng, Lingang Sci-Tech Innovation Investment, C&D Emerging Investment, 37 Interactive Entertainment and other institutions have also made over-allocated follow-on investments simultaneously. The funds raised from this round of financing will be mainly used for the R&D of self-developed chips and systems, large-scale mass production, software ecosystem construction and high-end talent introduction.