Magic Core raises US$68.8M for 4D world models at US$550M valuation
What's the deal? Chinese startup Magic Core Technology has raised a new round of US$68.8M, lifting its valuation to nearly US$550M. The company develops and applies 4D world models.
Who's backing it? The round drew industrial and state-backed capital, including Huawei's Hubble, Shenzhen Capital Group, Zhejiang CapitalDealroom has a profile for this one. Try Dealroom →, Legend HoldingsDealroom has a profile for this one. Try Dealroom →, Fullhan MicroelectronicsDealroom has a profile for this one. Try Dealroom →, Xingrui Capital, Ganbei Fund, JinkoSolar HoldingDealroom has a profile for this one. Try Dealroom →, SMIC Capital, and JoulWattDealroom has a profile for this one. Try Dealroom →.
Why now? The financing caps a rapid stretch of fundraising: Magic Core has closed four consecutive rounds over the past eight months.
The signal: The breadth of chipmakers, solar firms, and state funds backing Magic Core points to strong industrial appetite in China for the world-model technology underpinning next-generation AI and robotics.
Image credit: Generated with Gemini
