Xinlian Power closed a Series C of nearly $275 million in November at a valuation above $2 billion, led by the China Mobile Chain Chief Fund, Dealroom reported on November 2.
The company makes silicon carbide (SiC) and gallium nitride chips and modules. Dealroom says its SiC business ranks first in China and among the top five globally, citing a 2025 Yole report. Other backers include Inspur, Cathay Capital, CCB Equity, CITIC Securities and a state power-grid group.
The funding supports a pivot from electric-vehicle power chips to AI data-centre power supply. Dealroom says Xinlian is targeting 800V high-voltage direct current designs and later solid-state transformers, with some high-voltage SiC products already at sampling and verification.
The reported numbers are growing fast: first-half 2026 revenue of $162.3 million, up roughly 106% from a year earlier, with full-year revenue expected above $412.5 million. The round drew more than $550 million in investor interest, according to Dealroom.
It is a marker of where Chinese chip capital is heading: not only processors, but the power systems around them.
Source: Dealroom News
