A veteran in the chip industry has secured an angel round of funding.

Liang Jun, the CEO of Shanghai Fangqing Technology, once served as the CTO of Cambricon and the chief architect of HiSilicon Kirin SOC. This angel round of financing consists of three rounds of financing from 2023 to the recent period, led by Xiaomi's Strategic Investment Department, NIO Capital, and Shanghai Lingang Science and Technology Innovation Investment respectively.

After leaving Cambricon, Liang Jun embarked on an entrepreneurial journey.

On July 30, Shanghai Fangqing Technology, with Liang Jun as its CEO, officially announced the completion of an angel - round financing totaling hundreds of millions of RMB. It is reported that this angel - round financing consists of three rounds of financing from 2023 to the recent period, led by Xiaomi's Strategic Investment Department, NIO Capital, and Shanghai Lingang Science and Technology Innovation Investment respectively.

Data from Cailian Press Venture Capital Connect - Zhizhong shows that these three rounds of financing were completed in March 2023, April 2025, and July 2025 respectively. Among them, Xiaomi was the first large - scale company to invest in Fangqing Technology. In the first - round financing in March 2023, Hanxing Venture Capital under Xiaomi entered the shareholder list. Currently, Hanxing Venture Capital holds 6.93% of the company's shares and is the fifth - largest shareholder.

In addition, a reporter from Venture Capital Daily learned from NIO Capital that they also participated in the first - round investment and led the subsequent angel + round.

However, it is worth noting that Liang Jun had not joined Fangqing Technology at the time of the first - round financing. Fangqing Technology was established on September 29, 2022, with Li Kaipu as the legal representative. It was not until August 2024 that Liang Jun joined the company as CEO.

In the early days of Fangqing Technology's establishment, Liang Jun was parting ways with his "former employer," Cambricon. In March 2022, Liang Jun, who served as the deputy general manager and CTO of Cambricon, left the company due to differences with the company's development. On the day the news of his departure spread, Cambricon's stock price was hit, and its market value evaporated by nearly 6 billion RMB.

After Liang Jun left, a dispute arose between the two sides over equity issues. Cambricon required Liang Jun to transfer his shares in the company at an extremely low price, while Liang Jun argued that his equity incentive should be regarded as part of his labor remuneration.

For this reason, Liang Jun filed a labor dispute lawsuit against Cambricon in October 2024, demanding that Cambricon compensate him for the loss of equity incentives, approximately 4.286 billion RMB. In January this year, Cambricon filed a lawsuit against him, demanding that he transfer a total of approximately 11.52 million A - shares of Cambricon issued to the public at a total price of approximately 52,000 RMB. However, there is no clear progress in the above - mentioned lawsuits.

One month later, he became the legal representative of Fangqing Technology. Before that, both Liang Jun and Fangqing Technology were very low - key. However, from the perspective of the equity structure, he has a deep cooperative relationship with Li Kaipu, the former legal representative of Fangqing Technology.

The top two shareholders of Fangqing Technology (holding a total of 63.98% of the shares): Zhuhai Hengqin Zhongqin Fangqing Technology Partnership and Zhuhai Hengqin Lingzhi Daiwei Technology Partnership are both managed by the same company (Shanghai Daiwei Enterprise Development Co., Ltd.) as the executing partner.

This company is jointly held by Liang and Li. Liang Jun holds 80% of the equity, and Li Kaipu holds 20%. After Liang Jun became the legal representative of Fangqing Technology, Li Kaipu remained a director of the company.

Fangqing Technology has provided very limited disclosure about the business direction of the new company, only mentioning that it focuses on the research and development of a distributed computing architecture that decouples "context - related" and "context - independent" computing. The financing funds will be used for core technology research and development, productization, ecological and market expansion to further consolidate the company's leading position in this field.

A chip R & D expert told Venture Capital Daily that this solution of decoupling "context - related" and "context - independent" computing and mapping them to suitable heterogeneous hardware architectures for distributed processing may achieve parallel processing between modules and optimal matching of hardware resources, improve the computing efficiency, throughput, and scalability of the model, and reduce costs and power consumption at the same time. It is a promising R & D direction.

Judging from the evaluations of investors, Fangqing Technology is targeting the AI computing business in the future. Lv Yuanxing, a partner at NIO Capital, pointed out that at a time when the demand for artificial intelligence computing power is growing explosively, computing systems are facing the dual challenges of upgrading in terms of scalability and cost - effectiveness. The Fangqing team brings together senior experts in the chip industry. With their profound technical foundation and forward - looking vision, they have the ability to positively define new - type computing systems and are committed to providing customers with highly cost - effective AI computing products and services.

This also matches Liang Jun's past experience. When he worked at Huawei and Cambricon, he promoted the launch of important chip products. Liang Jun joined Huawei in 2000 and has held various positions, including engineer, senior engineer, chief engineer, technical expert, and senior technical expert. He was the chief architect of the HiSilicon Kirin SOC chip.

In 2017, Liang Jun left Huawei and joined Cambricon, where he was responsible for the overall technical planning and R & D of AI chips. During his tenure, Cambricon launched its first 7nm AI chip, the MagicMind 290, and then successively launched the 370 and 590. In his first year at Cambricon, the company carried out IP licensing cooperation with Huawei in the mobile terminal chip business. The market generally believes that Liang Jun played a promoting role.

Now that Liang Jun has left to start his own business, he has completed hundreds of millions of RMB in angel - round financing. A group of industrial investment institutions and local state - owned assets, such as Xiaomi, NIO, Lingang Science and Technology Innovation Investment, and 37 Interactive Entertainment, stand behind him. Fangqing Technology is also "recruiting talents." A reporter from Venture Capital Daily noticed that on the recruitment platform, Fangqing Technology has opened 20 positions, such as chip backend design and AI framework development, with salaries ranging from 30K to 80K.

Special statement: The content of this article is for reference only and does not constitute investment advice. Investors shall bear the risks associated with their operations based on this information.

This article is from the WeChat public account “Venture Capital Daily”, written by Yu Shiqi and published by 36Kr with authorization.