Damiao Technology raises ~200M yuan for AI energy operating system
Damiao Technology, a Shanghai-based AI company specializing in computing-electricity coordination and virtual power plants, has completed a new funding round of approximately 200 million yuan (about $27.5-28 million). The funds will be used for R&D, model and platform upgrades, and industrial integration. The company, founded in 2021, counts CATL, SenseTime, and Cambricon among its shareholders.
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Common ground
- Both sides agree that Damiao Tech's computing-electricity coordination concept addresses a real bottleneck in AI data center power consumption.
- Both agree that the investor lineup including CATL, SenseTime, and Cambricon is strategically significant.
- Both agree that China's 14th Five-Year Plan provides a policy tailwind for virtual power plants.
- Both agree that the $28 million funding round is sufficient for a proof-of-concept but not for large-scale deployment.
- Both agree that regulatory risk from State Grid is a real factor, though they interpret it differently.
Points of contention
- The Eastern Agent sees the investor lineup as a coordinated national strategy, while the Neutral Agent views it as three companies hedging their own risks.
- The Eastern Agent argues that software-defined infrastructure doesn't need billions in hardware capex, while the Neutral Agent insists that computing-electricity coordination requires controlling physical assets.
- The Eastern Agent dismisses unit economics as a Western metric, while the Neutral Agent says gross margins and customer acquisition costs are basic engineering questions.
- The Eastern Agent believes State Grid will license or acquire Damiao's technology, while the Neutral Agent thinks State Grid could build its own system and make Damiao irrelevant.
- The Eastern Agent frames US chip export controls as a strategic advantage for Damiao, while the Neutral Agent sees this as irrelevant to the business fundamentals.
Blind spots
- Neither side provided concrete data on Damiao's cost per kilowatt of dispatch, latency, error rates, or uptime guarantees.
- Both overlooked the challenge of convincing risk-averse data center operators to hand over power control to a startup's algorithm.
- Neither addressed how Damiao would handle simultaneous dispatch requests from hundreds of clients without performance degradation.
- The debate ignored the potential for competing virtual power plant startups in China or elsewhere to capture market share first.
WorldAttention’s read
Damiao Tech's $28 million funding round is a smart bet on a real problem—coordinating computing power and electricity to manage AI data center energy use. The investor lineup gives it credibility, and China's policy support offers a runway. But the business model is unproven: we don't know the cost per kilowatt of dispatch, customer acquisition costs, or how it survives if State Grid builds its own system. The Eastern Agent sees strategic alignment and a path to integration; the Neutral Agent sees a press release with missing numbers. Both sides agree the next 18-24 months will determine whether this is a paradigm shift or just a pilot project.
Reporting timeline
Damiao Smart Raises 200M Yuan in Series B for Energy AI Model and Virtual Power Plant
Damiao Smart (达卯智能), a Shanghai-based high-tech company, has secured 200 million yuan (approx. $27.5 million) in a Series B funding round. The proceeds will be used for R&D, model and platform upgrades, and industrial integration. The company, founded in March 2021, claims to be China's first to apply a large energy model to computing-power and electricity co-optimization. Its core offerings include a fully self-developed Energy MaaS platform and AI virtual power plants. Backed by SenseTime's underlying computing power, Damiao Smart has achieved commercial deployment; in August 2025, it completed a 2,144 kW load dispatch within 30 minutes for a Shanghai virtual power plant demand response. The company is also pursuing a 'hardware + AI' model to expand into global energy digitalization markets, having previously partnered with West Bund Sci-Tech to build a demonstration AI virtual power plant project in Xuhui District. Its shareholder base includes CATL, SenseTime, and Cambricon, following a nearly 100 million yuan Series A+ round led by CATL's Puquan Capital.
Read sourceDamiao Tech Completes ~200M Yuan Funding Round for AI Energy Operating System
Damiao Technology (达卯科技), a Chinese AI company specializing in computing-electricity coordination and virtual power plants, has completed a new funding round of approximately 200 million yuan (about $27.5 million). The company, founded in 2021 and headquartered in Shanghai, is described as the first domestic AI enterprise to deploy large-scale energy models for computing-electricity coordination and virtual power plant scenarios. Its core product, the AIDC Green Electricity Direct-Connect Energy Operating System (算电协同2.0平台), is positioned as key software for the computing-electricity coordination industry chain, targeting GW-level intelligent computing centers. The company's shareholder lineup includes industry leaders such as CATL (宁德时代), SenseTime (商汤科技), and Cambricon (寒武纪). This round follows a nearly 100 million yuan Series A+ round led by CATL's Puchuan Capital in October 2024.
Read sourceChinese AI data center firm Daomao Tech raises about $280M in new funding round
On September 23, Daomao Technology, a Chinese company specializing in compute-power and electricity coordination for AI data centers, completed a new funding round of approximately 200 million yuan (about $28 million). The specific investors, round name, and valuation were not disclosed. CEO Jian Yumin stated the funds will be used for R&D, model and platform upgrades, and industry integration, adding that the company plans to pursue one or two more funding rounds. Founded in 2021, Daomao provides compute-power coordination, virtual power plants, and intelligent operations and maintenance products for AI data centers. In October 2025, the company completed a nearly 100 million yuan A+ round led by CATL's Puquan Capital. Its existing shareholders include CATL, SenseTime, and Cambricon.
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Damiao Technology Completes New Funding Round of About 200 Million Yuan
Shanghai, September 23 (National Business Daily) — Damiao Technology, a core enterprise in computing-electricity collaborative AI energy operating systems, has completed a new funding round of approximately 200 million yuan. The company, founded in 2021, is China's first AI enterprise to scale the deployment of energy large models in computing-electricity collaboration, virtual power plants, and broad energy scenarios. In October of last year, Damiao Technology completed a nearly 100 million yuan Series A+ round led by Puquan Capital, a subsidiary of CATL (HK3750). Current shareholders include CATL, SenseTime, and Cambricon (688256).
Read sourceDamiao Tech Completes New Funding Round of About 200 Million Yuan
According to a report from National Business Daily on September 23 in Shanghai, Damiao Technology, a core enterprise in the AI energy operating system sector for computing-power-electricity coordination, has completed a new financing round of approximately 200 million yuan. The previous round in October last year involved investors including CATL's virtual power plant unit, SenseTime, and Cambricon. The article is sourced from East Money News and published on its company news channel.
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