GL Ventures has taken action, Wang Daxiang, the "shovel seller" in the AI chip track, has secured the new funding.

On September 24, ChinaVenture learned that Shanghai Langxi Technology Co., Ltd. (hereinafter referred to as "Langxi Technology") has completed a nearly 200 million yuan Pre-A+ round of financing, with participation from GL Ventures, Zhiwei Capital, SenseTime Guoxiang Capital, Jiayi Venture Capital, Feitu Venture Capital and Zhongqi Capital, and old shareholder Oriental Fortune Capital continued to increase its investment. So far, Langxi Technology has raised a total of nearly 300 million yuan in financing.

Founded in March 2023, Langxi Technology focuses on silicon-based passive devices with silicon capacitors as its core product. Simply put, the company uses semiconductor processes to make capacitors smaller and easier to integrate, placing them close to the main chip to meet its power supply and packaging requirements.

When this round of financing was closed, its products had already entered the mass delivery phase for high-performance chips. According to Wang Daxiang, founder of Langxi Technology, the company's multi-terminal substrate embedded capacitor products have achieved large-scale delivery in the CPU and GPU fields, and relevant products have obtained orders worth 100 million yuan. "It is expected that the revenue in 2026 will reach tens of millions of yuan."

From initially targeting the consumer electronics market to shifting its focus to large AI chips, Langxi Technology has further expanded its business to the optical communication and power supply fields. According to the plan, the funds from this round will be used for the R&D of chip-based platforms for advanced packaging devices such as silicon capacitors, silicon resistors and silicon inductors, expansion of the core team and procurement of key equipment, so as to promote large-scale production and delivery.

Veteran Semiconductor Practitioner Leads the Team

A Star Company Rises in Shanghai

Wang Daxiang's continuous focus on capacitors is related to his many years of working experience in the semiconductor industry.

Wang Daxiang studied materials-related majors for both his bachelor's and master's degrees. After joining Shanghai Advanced Semiconductor in 2005, he started from a single manufacturing process, gradually moved to full-process process integration, accumulated experience in mass production and R&D projects, and also came into contact with early silicon capacitor-related processes.

Six years later, he went to GlobalFoundries Singapore to continue his R&D work on advanced processes, new-type memory and back-end processes. In 2016, Wang Daxiang returned to Shanghai and worked as a product engineer at Huawei HiSilicon, participating in the development of large chips such as Ascend 310 and 910.

Previously, he was more focused on manufacturing and R&D. But from then on, Wang Daxiang began to understand the demand for supporting devices from the application end of main chips. Large chips require a large number of capacitors, and the sharp fluctuation in the price of ceramic capacitors made him pay further attention to the commercial value of such devices.

After joining Naura Technology, he had more opportunities to contact customers. Since 2019, Wang Daxiang has been responsible for equipment sales and customer docking in Shanghai and Wuhan, participating in demand communication, business negotiation and after-sales service. The relationships with wafer fabs accumulated during this period were of great help to his later entrepreneurship.

His past experience also made him realize that electronic devices are constantly developing towards miniaturization and integration, and capacitors also need to be made smaller and thinner to be integrated with chips. Relevant applications have emerged in overseas consumer electronics and high-performance computing fields. Combined with his own process accumulation, Wang Daxiang believed that there was an opportunity to develop such products.

In March 2023, Wang Daxiang founded Langxi Technology in Shanghai and launched the 3D silicon capacitor R&D project. Different from traditional ceramic capacitors, silicon capacitors are manufactured on silicon substrates using semiconductor processes, which can increase the capacitance value per unit area through three-dimensional structures, and carry out miniaturization and thinning design according to the needs of chips and packaging.

In the same month of its establishment, the company completed a seed round financing of tens of millions of yuan provided by Shique Investment. According to Wang Daxiang, the early investors were familiar with the team before, and they have been focusing on chips and other related fields for a long time. After reviewing the BP, they recognized the development logic of silicon capacitors and finally chose to provide financial support for the company.

In the early stage of entrepreneurship, consumer electronic products such as mobile phones were the key application directions that Langxi Technology considered. With the development of AI-related demand, the company gradually shifted its business focus to large AI chips, began to pay more attention to the demand for high-performance chips such as CPU and GPU, and expanded the application of its products to the optical communication and power supply fields.

The adjustment of business direction also affected the development of the company. In order to gain customer recognition, they first developed the process platform, then produced standard products, and tested performances such as capacitance density through actual measurement. As the product and process capabilities were gradually verified, the company began to gain customer recognition.

In October 2023, the R&D of Langxi Technology's 3D silicon capacitor project was successfully completed. Entering 2024, the company began to push the R&D results to the market: in June, silicon capacitor products started to be shipped; in September, the R&D of the silicon resistor project was successfully completed, and the company obtained another tens of millions of yuan of investment from Shique Investment. By the end of the year, their first design project achieved one-time tapeout success.

However, completing R&D and realizing tapeout does not mean that the products can already enter large-scale procurement by customers. For devices that need to be combined with advanced packaging, meeting the design index for a single product is only the first step, and subsequent verification of manufacturing, packaging adaptation and reliability is also required.

Benefiting from the team's experience in semiconductor R&D and mass production, the company can understand the process and product concerns of customers, and gradually gain recognition from leading customers in the fields of mobile phone chips, CPUs and other fields. In November 2025, Langxi Technology completed another tens of millions of yuan Pre-A round of financing invested by Oriental Fortune Capital, GPRO Capital, Shique Investment, and Vision Knight Capital.

From obtaining early funds based on technical judgment at the beginning to contacting more institutions with product and customer progress, Langxi Technology's demand for capital is also changing. Wang Daxiang admitted that when selecting investors, the company will pay attention to the brand and industrial resources of the institutions, hoping to better expand customers and build the supply chain.

Therefore, under the circumstance that the investment amount exceeded the company's expectation, only investors including GL Ventures, Zhiwei Capital, SenseTime Guoxiang Capital, Jiayi Venture Capital, Feitu Venture Capital, Zhongqi Capital and old shareholder Oriental Fortune Capital successfully obtained the share of Langxi Technology's Pre-A+ round of financing. And the next round of financing of the company is also being smoothly promoted.

Zhongqi Capital believes that the development of AI computing power is raising the requirements of advanced packaging for power supply networks, and silicon-based passive devices are also ushering in opportunities for domestic substitution. Langxi Technology's practice of putting industrial chain collaboration in the early stage of product development and carrying out joint verification with customers and upstream and downstream enterprises is an important factor that it focuses on.

"Langxi Technology takes silicon capacitors as the entry point, has formed a solid foundation in technical accumulation, customer verification and large-scale delivery, and continues to expand to the silicon-based passive device platform." Zhiwei Capital values the team's ability to transform technological innovation into actual products and customer value, and pays attention to the potential of the company to expand from silicon capacitors to a silicon-based passive device platform.

Stable Power Supply for AI Chips

Revenue is Expected to Reach Tens of Millions of Yuan in 2026

One of the most important product application scenarios of Langxi Technology at present is the power supply network for high-performance chips such as CPU and GPU.

During the operation of high-performance chips, with the change of computing load, the current demand may fluctuate significantly in a very short time. The power supply network needs to respond in time to maintain the stable operation of the chip, and capacitors can provide buffering in this process.

Wang Daxiang compares capacitors to reservoirs close to water users: when water is needed, the closer the reservoir is, the shorter the transmission path. Traditional devices such as ceramic capacitors are usually deployed on the circuit board or other positions of the package. However, as some chips have higher requirements for power supply performance, the loss and parasitic parameter effects brought by longer paths will limit the power supply performance.

Langxi Technology's approach is to place silicon capacitors close to the main chip through surface mounting, back mounting or embedding into the substrate, so as to help shorten the current path and meet the requirements of near-chip and high-frequency decoupling. Customers can also use silicon capacitors and ceramic capacitors in combination to jointly design the power supply network according to their respective performances and deployment positions.

After being placed close to the chip, space becomes another problem that needs to be solved. Customers hope that capacitors can provide sufficient capacitance, while minimizing the occupied space to leave positions for wiring and other designs. Wang Daxiang summarized such demand as: "Customers have such strong demand for capacitors, hoping that the higher the capacitor density, the better."

According to Langxi Technology, the capacitance density of its mass-produced silicon capacitors reaches 2μF/mm², and the newly developed product reaches 3μF/mm². Under the same capacitance requirement, the increase in density can theoretically reduce the area occupied by the device. In addition to increasing the capacitance density through deep trench related processes, they also need to control parasitic resistance and parasitic inductance to avoid the parameters of the device itself affecting the overall power supply effect.

Entering the inside of the package, another threshold is reliability. Wang Daxiang explained that once the capacitor is embedded in the substrate, it is difficult to rework, and the failure of one device may affect the entire substrate. Therefore, the scope of verification required by customers extends from the capacitor itself to the performance of the complete package state composed of the capacitor, the substrate and the main chip.

In order to meet these requirements, Langxi Technology needs to collaborate with wafer fabs, substrate factories and packaging factories to deal with problems in multiple links from process manufacturing to packaging adaptation and reliability verification. The devices finally purchased by customers need not only meet the electrical performance, but also withstand subsequent processing and maintain consistency.

From product testing to entering the customer's supply system, the verification process has a very long cycle. "It will almost take 1 to 1.5 years." According to Wang Daxiang, both of the company's two product lines, surface mounting and substrate embedded capacitor, have passed customer verification. Among them, the multi-terminal substrate embedded capacitor products have achieved large-scale delivery in the CPU and GPU fields, and relevant products have obtained orders worth 100 million yuan.

At present, Langxi Technology has more than 20 mass-produced and verified customers in total. In addition to the aforementioned CPU and GPU businesses, the company's optical communication business has also made new progress: in March 2026, the adaptation of high-frequency and low-loss silicon capacitors for 1.6T optical modules was successfully completed; at present, the company has delivered products to leading overseas optical module customers in batches.

Through collaboration with industrial chain partners, the company has more than 200 mass-produced models of silicon capacitors and silicon resistors, with a monthly production capacity of more than 500 million units. The sales of these devices also constitute the main source of revenue for Langxi Technology.

"In 2025, the company focused on verification orders, and its revenue was at the million-yuan level." According to Wang Daxiang, as more customers complete verification and start batch delivery, the company expects that the revenue in 2026 will reach tens of millions of yuan.

From early R&D to customer verification, and then to obtaining orders and large-scale delivery, Langxi Technology has crossed multiple key nodes. For the company, the more direct task at present is to obtain orders for products that have passed verification, and gradually convert the existing orders into stable delivery.

With the completion of the Pre-A+ round of financing, the company can further accelerate the promotion of this task.

This article is from the WeChat official account "ChinaVenture", Author: Lu Zhigao, Editor: Wang Qingwu, 36Kr is authorized to publish this article.