Hangzhou Puxi Guangjing Semiconductor has closed a several-hundred-million-yuan Series C, 36Kr has learned. The round drew ten new state-owned and industrial-capital backers, among them Zhejiang Jiahe Changyue, Chengdu Innovation Venture Capital, the Shanghai Semiconductor Equipment and Materials Industry Investment Fund, Shandong Caijin and Guizhou Guochuang.
The proceeds will fund the next generation of gallium-oxide power chips, capacity expansion for 230-degree-C high-temperature module production, research into high-temperature robot joints, and early work on space computing and controlled-nuclear-fusion power supplies.
Founded in 2020, the company posted 230 million yuan in revenue in 2025 and is already profitable, rare for a firm in this segment. It chose not to chase the price war in general-purpose power semiconductors for electric vehicles, photovoltaics and storage, instead focusing on a narrower class of chips built for extreme environments.
Why extreme environments are a different problem
Unlike computing chips, power chips carry large voltages and currents, and the more power they handle the harder efficiency, heat dissipation and reliability become. Puxi Guangjing says its products tolerate about 250 degrees C, while staying smaller and lighter, running cooler and holding up under harsh conditions.
Its first market was deep-earth energy exploration. Oil-drilling tools that descend 8,000 metres or more meet rock temperatures above 200 degrees C in cramped spaces, so the power system must survive the heat while staying compact and generating little of its own. The founder and chief executive, Xu Yili, puts it bluntly: at two or three hundred degrees outside, any self-heating pushes the interior to three or four hundred.
Making a power system work above 200 degrees C takes more than a heat-tolerant chip. Resistors, capacitors, transformers, substrates and packaging can each fail first, and one failure collapses the whole system. Puxi Guangjing built the HS-MCM platform, a hermetic hybrid package that seals the power chip together with driver and feedback circuits, even where mature supply chains for the parts do not yet exist.
From oil wells to robot joints
From 2023 the company turned to commercial space beyond 10,000 metres and to special robot joints. A faster, higher-jumping robot needs larger instantaneous joint power without added size or weight, and more power means more heat. In refining, steel and electrolytic-aluminium plants the ambient temperature can already reach 60 to 70 degrees C, and internal heat can push that past 100 degrees C, where ordinary electronics lose reliability over time.
So Puxi Guangjing entered through high-temperature industrial robot joints, using its track record in heat tolerance, low self-heating and miniaturisation, then extended toward more conventional robot scenarios as power-density demands rose. Looking ahead it is adding power-conversion systems for AI computing centres in the second half of this year, plus controlled-fusion power supplies and high-power drones.
After the Series C the business will keep stretching outward: fourth-generation semiconductor research, volume shipments of a silicon-carbide plus gallium-oxide hybrid module that would make it the first firm to span both third- and fourth-generation power semiconductors, and frontier work on compute-power coordination for AI data centres, an operating system for space-based energy, and solid-state fusion power.
The founding team is four classmates from Tsinghua University’s electronic engineering class of 1998. Xu Yili, chief executive, holds Tsinghua degrees and is a national science-and-technology entrepreneurship leader. Chief technology officer Yang Qi spent 15 years at Schlumberger on extreme-temperature downhole systems, and chief marketing officer Li Xin came from the China Electronics system with energy and aerospace client relationships.
Editor’s note: This is an adapted translation of the original 36Kr report. It has been trimmed and restructured for readability for an international business audience. The full original (in Chinese) is at https://36kr.com/p/3996805864312961.