Founded in November 2021, Hangzhou-based SpacemiT develops next-generation high-performance CPUs built on the open-standard RISC-V instruction set. Its chips are tailored for edge artificial intelligence workloads, enabling real-time processing on devices ranging from smart home products and smartphones to industrial sensors and autonomous robots. The company’s inaugural octa-core 64-bit RISC-V AI chip, the K1, launched in 2024 and has already shipped more than 150,000 units for open-source hardware, AI devices, and robotics applications. SpacemiT is currently preparing to mass-produce its second-generation K3 chip in April after completing tape-out last year. The firm provides integrated hardware-software optimization solutions that support large language model development and seeks to drive broader adoption of RISC-V within China’s growing AI ecosystem. Proceeds from its latest funding are earmarked for boosting the computing power of upcoming chips and expanding its engineering talent pool to capitalize on the surge in edge AI demand.

Total raised

$86M

Funding rounds

1

Latest round

Series B

Latest activity

Jan 2026