Moonshot AI raised 44% of Beijing’s VC. Shenzhen’s largest raiser took 12%

The five companies that raised the most in each city, January to September 2026, all their rounds combined

Shenzhen $7.3B in all

  1. AI2 Robotics $0.9B
  2. Sunwoda Power $0.7B
  3. Cornerstone Robotics $0.7B
  4. D-Robotics $0.7B
  5. LimX Dynamics $0.4B

Beijing $14.2B in all

  1. Moonshot AI $6.2B
  2. Shengshu Technology $0.9B
  3. iSpace $0.8B
  4. ModelBest $0.7B
  5. GigaAI $0.6B

Shanghai $10.9B in all

  1. StepFun $3.2B
  2. Qianfan $1.0B
  3. PsiBot $0.5B
  4. TARS Robotics $0.5B
  5. Volant $0.4B
Source: Dealroom.co