Funded Startups in Shenzhen
Across the 32 most recent Shenzhen rounds shown (2025-09-09 to 2025-11-30), disclosed funding is highly concentrated at the high end: X Square’s $140M Seri…
Across the 32 most recent Shenzhen rounds shown (2025-09-09 to 2025-11-30), disclosed funding is highly concentrated at the high end: X Square’s $140M Series A on 2025-09-11 is the only disclosed round at that scale, and it dwarfs the next-largest disclosed amount, Neptune Robotics’ $52M Series B on 2025-10-02. Most disclosed amounts cluster around a mid-teens band: Link Touch ($14M, 2025-11-20), PulseCare ($14M, 2025-11-07), Sengine ($14M, 2025-11-05), Jiansheng Medicine ($14M, 2025-11-03), and Reexen Technology ($14M, 2025-09-23) each sit at $14M.
The list also shows a dense late-September to mid-November window: 20 of the 32 entries fall between 2025-11-03 and 2025-11-30, while several additional rounds land on 2025-09-11 to 2025-09-23 (including X Square on 2025-09-11). Stage disclosure is sparse: 24 of 32 rows are “undisclosed” by amount, and none show an “undisclosed” amount alongside a “Series Unknown” stage label—“Series Unknown” appears twice by stage (both undisclosed), while one entry lists category data as “—” (NetForward) under Series C.
Most recent rounds
32 shownRelated listings
Frequently asked
Which disclosed round is an outlier in the Shenzhen list, and what’s the next step down?
X Square’s $140M Series A (2025-09-11) is the only disclosed amount in that $100M+ range. The next-largest disclosed amount is Neptune Robotics at $52M (Series B, 2025-10-02), after which multiple rounds cluster at $14M (e.g., Link Touch on 2025-11-20; PulseCare on 2025-11-07).
Do the rounds cluster tightly by time, or are they evenly distributed across the window shown?
They cluster toward late 2025: 20 of 32 entries fall between 2025-11-03 and 2025-11-30 (for example, several Series B and Series A rounds run from 2025-11-18 through 2025-11-28). The earlier portion of the window concentrates around mid-September, with multiple entries from 2025-09-11 to 2025-09-23 (including X Square on 2025-09-11 and Neptune Robotics not until 2025-10-02).
How much of the list has disclosed amounts versus undisclosed amounts, and does that change across stages?
Disclosed amounts appear in 8 of the 32 rows, while 24 of 32 are “undisclosed” by amount. Those disclosed examples span multiple stages (e.g., Series C for Link Touch at $14M on 2025-11-20; Series B for Neptune Robotics at $52M on 2025-10-02), while “Series Unknown” occurs twice and both have “undisclosed” amounts (Afalight on 2025-09-11; Mingchuang Intelligent on 2025-09-12).
Which stage(s) show up most often among the entries with disclosed amounts?
Among the disclosed rounds, Series A, Series B, and Series C all appear, but Series B includes the highest disclosed non-$140M datapoint (Neptune Robotics $52M on 2025-10-02) and also contributes $14M (Reexen Technology $14M on 2025-09-23). Series A includes multiple $14M entries (e.g., Sengine $14M on 2025-11-05; PulseCare $14M on 2025-11-07) plus the standout $140M outlier (X Square).
Are there any sector or thematic concentrations visible, or are they mostly one-off categories?
Themes repeat in robotics/AI-adjacent areas more often than single-category firms—for example Robotics or robotics-adjacent appears with Neptune Robotics (Marine, Robotics; $52M on 2025-10-02), Link Touch (Hardware, Manufacturing, Robotics; $14M on 2025-11-20), and Astribot (Robotics, AI, Hardware; undisclosed on 2025-11-18). Biotechnology and healthcare also recur through multiple entries such as Jiansheng Medicine (Pharmaceuticals/Biotechnology/Healthcare; $14M on 2025-11-03) and Salus BioMed (Biotechnology; $7M on 2025-10-12).
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