**Langxi Technology Secures Nearly 200 Million Yuan Pre-A+ Round for AI Chip Silicon Capacitors**
Shanghai Langxi Technology, a startup founded in March 2023, has completed a Pre-A+ funding round of nearly 200 million yuan (approximately $27.5 million). The round was led by Hillhouse Ventures and included seven other investors. The company develops silicon-based passive devices, primarily capacitors for AI processors and high-performance computing. The funds will be used for R&D, team expansion, and equipment procurement. Langxi has achieved volume delivery of its substrate-embedded capacitors in the CPU and GPU markets.
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Cross-source coverage
Common ground
- Langxi Technology's silicon capacitors are a real technological solution for AI chips that can't use traditional MLCCs.
- The company's AEC-Q200 certification and 110GHz capability are legitimate achievements.
- Geopolitical factors, like US export controls, create captive demand for domestic alternatives in China.
- The speed from founding in 2023 to mass production in 2024 is impressive.
Points of contention
- Eastern Agent sees Langxi as a strategic national capability builder, while Neutral Agent views it as a high-risk investment with questionable financials.
- Eastern Agent argues revenue will follow capacity, but Neutral Agent says the gap between 'hundreds of millions in orders' and 'million-level' revenue signals a conversion problem.
- Neutral Agent focuses on the 30-40x capital-to-revenue ratio as a red flag, while Eastern Agent dismisses this as applying Silicon Valley metrics to a different system.
- Eastern Agent claims seven investors show coordinated support, but Neutral Agent says it indicates no single investor had enough conviction to lead alone.
Blind spots
- Both sides agree that manufacturing yield at scale is the real test, but neither has actual yield data from Langxi.
- The debate overlooks how price-sensitive customers might find workarounds if Langxi's capacitors cost significantly more than traditional MLCCs.
- There's no discussion of how Langxi's technology compares to potential competitors like Murata or TDK in the long term, beyond first-mover advantage.
WorldAttention’s read
Langxi Technology has real technology that solves a genuine bottleneck for AI chips, and it benefits from a strong geopolitical tailwind in China. However, the company's financial story is shaky—with 200 million yuan raised against only million-level revenue and a tens-of-millions projection for 2026, the capital-to-revenue ratio is a serious concern. The key unknown is manufacturing yield at scale, which has been the downfall of many Chinese semiconductor startups. If Langxi can achieve high yields and competitive costs, the bullish case for it as a strategic national asset becomes credible. If not, it risks being another promising science project that couldn't deliver. For now, it's a high-risk bet where the technology is proven, but the business fundamentals are not.
Reporting timeline
Shanghai Langxi Technology Raises Over 130 Million Yuan in Pre-A+ Round Led by SenseTime Guoxiang Capital
Shanghai Langxi Technology (Langxi Technology) has completed a Pre-A+ funding round of over 130 million yuan, with participation from seven investors including Hillhouse Ventures, Zhiwei Capital, SenseTime Guoxiang Capital, Jiayi Venture Capital, Feitu Venture Capital, and Zhongqi Capital. Existing shareholder Dongfang Fuhai also increased its investment. The company, which has seen its revenue double year-on-year and has raised over 200 million yuan in total, will use the funds to develop its silicon-based passive device platform, expand its core team, and purchase key equipment. Langxi Technology specializes in silicon capacitors, resistors, and inductors for advanced packaging in AI processors and high-performance computing. The company claims its products, including surface-mount and substrate-embedded capacitors, have passed customer verification and are being delivered in volume, with monthly production capacity exceeding 500 million units. It has secured multi-million-yuan orders for its multi-terminal substrate-embedded capacitors in the CPU and GPU markets and is supplying a major overseas customer in the optical module sector.
Read sourceLangxi Technology Raises Nearly 200 Million Yuan in Pre-A+ Round for Silicon Passive Devices
Shanghai Langxi Technology Co., Ltd. (Langxi Technology), a company specializing in the R&D and industrialization of silicon-based passive devices, announced on September 24 that it has completed a nearly 200 million yuan Pre-A+ funding round. The investment round includes Hillhouse Ventures, Zhiwei Capital, SenseTime Guoxiang, Jiayi Venture Capital, Feitu Venture Capital, Zhongqi Capital, and existing investor Dongfang Fuhai. The funds will be used to advance its chip platform for silicon capacitors, resistors, and inductors, expand its core team, and procure key equipment to scale production and delivery. The article notes that the AI computing boom is driving demand for capacitors in GPUs and high-speed optical modules, creating a supply-demand gap for traditional MLCCs. Industry experts cited in the report state that all growth in the silicon capacitor market comes from the AI sector, with core growth next year expected from GPUs and optical communications. The report forecasts that by 2028, domestic silicon capacitors could capture 70-80% of the Chinese market. Langxi Technology's multi-terminal embedded substrate products have already achieved large-scale delivery in the CPU and GPU sectors, securing orders worth hundreds of millions of yuan, and it is supplying overseas customers in the optical module field.
Read sourceLangxi Technology closes nearly 200M yuan Pre-A+ round for silicon passive devices
Shanghai Langxi Technology Co., Ltd. (Langxi Technology), a company specializing in silicon-based passive device R&D and industrialization, announced on September 24 that it has completed a nearly 200 million yuan Pre-A+ funding round. The investors include Hillhouse Ventures, Zhiwei Capital, SenseTime Guoxiang, Jiayi Venture Capital, Feitu Venture Capital, Zhongqi Capital, and existing shareholder Dongfang Fuhai. The funds will be used to accelerate R&D for silicon capacitor, resistor, and inductor advanced packaging chip platforms, expand the core team, and purchase key equipment to scale production and delivery. The article notes that the AI computing boom is driving demand for capacitors in GPUs and high-speed optical modules, creating a structural supply-demand gap for traditional MLCCs. Industry experts state that silicon capacitors offer advantages such as ultra-low ESR and ESL, wide temperature stability, and ultra-thin integration, making them a key alternative. An industry insider forecasts that all growth in the silicon capacitor market comes from AI, with core growth in 2025 from GPU and optical communication sectors, and that the overall market size is directly tied to shipments of GPUs and 1.6T+ optical modules. The industry expects domestic silicon capacitor market share to reach 70-80% by 2028. Langxi Technology has already achieved scaled delivery of multi-terminal substrate embedded products in the CPU and GPU fields, with billion-yuan orders, and supplies overseas customers in the optical module sector.
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Langxi Technology Raises Nearly 200 Million Yuan in Pre-A+ Round for Silicon Passive Devices
Langxi Technology, a Chinese developer of silicon-based passive devices, has completed a Pre-A+ funding round of nearly 200 million yuan (approximately $27.5 million). The round was led by Hillhouse Ventures, Zhiwei Capital, SenseTime Guoxiang Capital, Jiayi Venture Capital, Feitu Venture Capital, and Zhongqi Capital, with existing investor Dongfang Fuhai also participating. The company specializes in high-value-added 3D silicon capacitors, inductors, and resistors, targeting AI, CPU, GPU, and SoC applications with low-impedance, ultra-thin, high-density silicon capacitor solutions for chip power integrity. Its core products, based on 3D deep-trench technology, double capacitance density, support 1.6T/3.2T high-speed optical modules and 110GHz frequencies, and feature high-temperature tolerance, low leakage, minimal capacitance degradation, and ultra-thin packaging. Langxi has achieved mass production, with monthly output of thousands of 8-inch wafers and over 450 million units in 0201 size. Some products have passed AEC-Q200 automotive-grade reliability certification.
Read sourceLangxi Technology Raises $27.5M Series Pre-A+ Led by Hillhouse for AI Chip Capacitors
Shanghai-based Langxi Technology, founded in March 2023 by semiconductor veteran Wang Daxiang, has completed a nearly 200 million yuan ($27.5 million) Pre-A+ funding round. The round was led by Hillhouse Ventures, with participation from Zhiwei Capital, SenseTime Guoxiang Capital, Jiayi Venture Capital, Feitu Venture Capital, Zhongqi Capital, and existing investor Dongfang Fuhai. The company develops silicon-based passive devices, primarily silicon capacitors, which are smaller and more integrable than traditional ceramic capacitors, enabling placement closer to high-performance chips like CPUs and GPUs to improve power delivery. Langxi's multi-terminal substrate-embedded capacitor products have achieved volume delivery in the CPU and GPU sectors, securing orders worth hundreds of millions of yuan. The company expects 2026 revenue to reach tens of millions of yuan, up from a million-level in 2025. The funds will be used for R&D, team expansion, and equipment procurement to scale production. Investors cited AI compute growth driving demand for advanced packaging power networks and Langxi's technology validation as key factors.
Read sourceHillhouse Leads Nearly $28M Series Pre-A+ Round in AI Chip Power Component Startup Langxi Tech
Shanghai Langxi Technology, a startup founded in March 2023 by semiconductor veteran Wang Daxiang, has completed a nearly 200 million yuan ($28 million) Pre-A+ funding round led by Hillhouse Ventures, with participation from Zhiwei Capital, SenseTime Guoxiang Capital, Jiayi Venture Capital, Feitu Venture Capital, and Zhongqi Capital. Existing investor Dongfang Fuhai also participated. The company specializes in silicon-based passive devices, primarily silicon capacitors, which are used to stabilize power supply for high-performance chips like CPUs and GPUs. Langxi's multi-terminal substrate-embedded capacitor products have already achieved mass delivery in the CPU and GPU sectors, securing orders worth hundreds of millions of yuan. Founder Wang Daxiang stated that the company expects revenue to reach tens of millions of yuan in 2026. The funds will be used for R&D, team expansion, and equipment procurement to scale production. The company has over 200 mass-produced models of silicon capacitors and resistors, with a monthly capacity exceeding 500 million units.
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