Addor Capital

Addor Capital is a growth capital investment firm established in 2014 and located in Nanjing, China. The firm specializes in providing investment services by financing early-stage ventures and acquiring securities of various companies. Addor Capital focuses on a diverse range of sectors, including clean technology, health, new materials, advanced manufacturing, consumer services, cultural industries, and technology, media, and telecommunications. Its investment strategy encompasses seed-stage, early-stage, later-stage, and growth-stage companies, primarily within China.

Fan Liping

Founding Partner

Meng, Xiaoying

Investment Director

Wang Yinzhi

Partner

Jin Yi

Partner

Xue Yi

Senior Partner

Yuan Yaguang

Partner

Past deals in Hardware

TwinSolution Technology

Series C in 2025
TwinSolution specializes in providing professional test interface products and solutions for the semiconductor industry. The company develops and manufactures a range of essential testing equipment, including ATE test sockets, MEMS chip probes, test probes, and probe cards. These products are critical for the testing and packaging of various semiconductor components, such as mobile phone chips, memory chips, and AI chips, as well as components for Gallium Nitride (GaN) and Carbon Silicon (SiC) wafer manufacturers. Through its innovative offerings, TwinSolution plays a vital role in enhancing the efficiency of the semiconductor testing process.

SiVision Technology

Series B in 2025
SiVision Technology is a semiconductor equipment developer specializing in independent development of high-end process node wafer manufacturing solutions.

Menhai Microelectronics

Series C in 2025
Menhai Microelectronics is an integrated circuit design company engaged in the R&D and sales of MCU/SOC chips.

Baiyushun Technology

Series A in 2024
Baiyushun is a computer accessories R&D and manufacturing company specializing in the production and processing of notebook shells and keyboards.

Zibo Xincai

Series B in 2024
Zibo Xincai is an integrated circuit manufacturing company that focuses on the development, manufacturing, and sales of core materials for semiconductor packaging.

Tota Info

Series A in 2024
Tota Info is a technology company focused on delivering integrated hardware and software solutions for smart factories within the semiconductor industry. The company specializes in intelligent manufacturing, utilizing advanced technologies such as Auto Guided Vehicle (AGV) drones, artificial intelligence, and deep learning. Tota Info's offerings cater to domestic semiconductor manufacturers and encompass the entire industrial chain, including silicon wafer production, packaging, and testing. By implementing Tota Info's solutions, industrial users can enhance quality control, improve machine efficiency, streamline product manufacturing processes, and manage costs effectively.

Zhongke Caixiang

Series A in 2024
Zhongke Caixiang is committed to delivering the most innovative high-end data acquisition tools and equipment.

Zhongke Caixiang

Series B in 2024
Zhongke Caixiang is committed to delivering the most innovative high-end data acquisition tools and equipment.

Zhongji New Materials

Series A in 2024
Zhongji New Materials is a high-tech company focused on technology research. It produces precision grinding and polishing products.

Chengdu Maike

Seed Round in 2024
Chengdu Maike is a hardware manufacturer that produces TGVs, IPD technical services, and related products. That provides atomizer glass, glass-based and folded substrates, 3D glass, microprocessing, micro, and mini-LED substrates, electronic materials, and TGV-related characteristic process equipment.

ZhiRen JingXing

Series A in 2024
ZhiRen JingXing is a research and development platform dedicated to the study and manufacture of advanced alloy materials. The company specializes in high-end energetic materials, light alloy composite materials, and soft magnetic metal materials. Additionally, it focuses on additive manufacturing technology and equipment. By concentrating on these areas, ZhiRen JingXing aims to provide innovative material solutions tailored for industrial users, enhancing the capabilities and efficiency of various production processes.

Aerospace Jichuang

Series A in 2024
Aerospace Jichuang is deeply involved in the fields of special equipment Internet of Things and intelligent manufacturing.

PowerValue

Series A in 2023
PowerValue is a professional supplier of integrated circuit testing equipment and solutions, catering to the semiconductor industry. The company specializes in the testing of integrated circuit chip wafers and finished products, leveraging advanced design and research capabilities. As a national high-tech firm, PowerValue offers comprehensive testing solutions tailored to meet customer needs, along with exceptional after-sales support. Its steady growth can be attributed to the dedication of its founding team and the advancements in technology within the industry.

Zhizhen Precision

Series A in 2023
Zhizhen Precision Instrument is a tech enterprise mainly engaged in the research, development, and production of integrated circuit production line testing equipment and high-end scientific instruments. They are manufacturers of microelectronic testing and processing equipment and are committed to solving the key technical problems that are stuck in the development and manufacturing of microelectronic products.

Xinqin Microelectronics

Series A in 2023
Xinqin Microelectronics is a semiconductor wafer manufacturing company that specializes in production of special electronic materials, advanced semiconductor packaging and new displays.

Shitong Microelectronics

Seed Round in 2023
Shitong Microelectronics specializes in the design and development of machine vision-detecting sensors, particularly 3D sensors. It seeks to create 3D sensors with high precision, low power consumption, and competitive prices.

Ibeki

Series A in 2023
Ibeki provides tiny photoelectric displacement sensors and servo control systems. eBridge uses the high precision and miniaturization of its precision motion drive technology to provide customers with a more complete technology portfolio, and has successfully transformed its core technology into a number of military and civilian products, particularly in aerospace, medical equipment, and intelligent control.

Yourong Microelectronics

Series B in 2023
Yourong Microelectronics is a researcher and developer of RF, analog, and mixed-signal integrated circuits. They offer services for wired communication, wireless communication, radar, instrumentation, aerospace, and precision measurement.

Dekwell

Venture Round in 2023
Dekwell is a national high-tech enterprise integrating technology research and development, production, sales, and service. The company is committed to providing industrial bus solutions with I/O modules as the core.

Kuxun Intelligent

Series A in 2023
Kuxun Intelligent is a supplier specializing in "one-stop" overall solutions for mobile robots and intelligent warehousing.

Odin Technology

Seed Round in 2023
Odin Technology is a digital human and metaverse company. Odin Technology is a visual effects technology with deep learning technology that provides solutions for digital humans in the metaverse. They offer independent research and development of hardware and software with intellectual property rights and 3d digital assets.

Haitu Microelectronics

Series A in 2023
Haitu Microelectronics is a hard technology company specializing in the R&D, design, and market development of CMOS image sensor chips. The core personnel has more than 10 years of experience in chip technology (including research, design, testing, and application). At present, the company's core products are high-speed CMOS image sensor chips. According to different application scenarios, the company is developing various types of chips to meet the needs of customers in different fields such as scientific research, military industry, and industry.

Saimai Measurement and Control

Seed Round in 2022
Suzhou Saimai Measurement and Control specializes in the development of testing equipment and intelligent systems for semiconductor devices, particularly in the radio frequency domain. The company produces a range of products including RF broadband vector signal transceivers, RF power amplifiers, and modules designed for fast S-parameter measurement and analysis. Saimai also offers a cloud-based measurement and control platform, providing comprehensive testing solutions for RF chip modules and micro systems, such as system-on-chip (SoC) devices. Through its innovative technology, Saimai aims to enhance the efficiency and accuracy of semiconductor testing processes.

Pi semiconductor

Series A in 2022
Pi Semiconductor focuses on the development and production of advanced integrated circuit substrates essential for semiconductor testing. The company's products, which include ATE and MLO substrates, play a crucial role in various stages of high-precision semiconductor testing, such as electroplating, pressing, and drilling. By providing these specialized substrates, Pi Semiconductor helps semiconductor manufacturers enhance their production yield of functional chips, thereby supporting efficiency and quality in the semiconductor supply chain.

Yourenlian

Series C in 2022
Youwu.com is a cloud service platform that helps solve communication issues between devices and host computers. They provide data collection and monitoring capabilities, as well as data transmission transparency and device control functions. Their products involve Wi-Fi, Bluetooth, NB-IoT, LoRa, LTE, and GPS.

FDMTEK

Series B in 2022
Zhongke Benyuan manufactures digital signal processor (DSP) chips. It provides DSP products and solutions for industrial control, renewable energy, electric vehicles, household appliances, rail transit, and other applications.

Youcun Technology

Series B in 2022
Youcun Technology is a high-tech enterprise focused on the research and development of semiconductor storage systems. The company specializes in NOR flash memory chips, including low-power variants, and in-memory computing chips derived from NOR flash architecture. Its products cater to the demands of 5G communication and Internet of Things (IoT) applications, offering users solutions that are characterized by low power consumption, cost-effectiveness, high reliability, and substantial storage capacity.

Langxun Technology

Series C in 2022
Langxun Technology is an integrated circuit testing technology and service provider. They provide semiconductor companies with packaging types, product testing solutions, and mass production services in application fields, as well as turnkey service solutions such as wafer processing and packaging.

Terapark

Seed Round in 2022
Terapark is a developer and researcher focused on terahertz chip technology, specializing in the production of integrated circuit modules and equipment. The company offers a range of products, including CMOS terahertz integrated circuits, real-time imaging systems, and terahertz sensors. By utilizing standard silicon technology with nanometer precision, Terapark aims to reduce the costs associated with terahertz technology. This approach supports the wider adoption of terahertz applications in various sectors, such as intelligent manufacturing industry inspection, intelligent transportation, energy Internet of Things monitoring, environmental monitoring, and health monitoring.

Ruijiewei

Series B in 2022
Ruijiewei is a high-end integrated circuit packaging and testing service provider. They have hundreds of chip packaging project management and delivery experience, with a focus on the design of sophisticated chip packaging solutions, large-scale packaging processing, and production, and completed product testing. Ruijiewei is dedicated to the advancement of domestic industry cooperation.

Liankang Information

Venture Round in 2022
Liankang Information is a high-tech enterprise integrating PCB&FPC design

Yihui Information

Series B in 2022
Yihui Information provides technical assistance and integrated hardware and software solutions. They also offer development kits, virtualization, cloud native that includes mission-critical cloud native, microservices architecture, container management services, and more.

Huarui Micro

Series B in 2021
HRmicro is a high-tech enterprise integrating R&D, production, sales and service of power device products. Huarui Micro has successfully developed and mass-produced products including high-voltage VDMOS, low-voltage trench MOS, super junction MOS and SGT MOS. At the same time, it is carrying out the research and development of third-generation semiconductor (SiC, GaN) power devices.

Robustel Technologies

Series C in 2021
Guangzhou Robustel Technologies Co., Ltd. is the leading industrial IoT/M2M Hardware and Solution Provider. Since its establishment in 2010 in Guangzhou China, Robustel has been concentrating on providing Industrial GoRugged Cellular Routers, Gateways, Modems, Cloud Platform and E2E Solutions. To support global business in more than 100 countries, Robustel has established branches in Germany, Australia, Japan, Netherlands and Hong Kong. Robustel treats high quality products and services as our corporate DNA. For years, we have implemented ISO9001:2008 Quality Management system as a sophisticated approach of quality planning, quality control, quality assurance and quality improvement. Thanks for that, Robustel has successfully passed global certification, including CE, FCC, PTCRB, AT&T, IC, Rogers, GCF, RCM, IDA, NBTC, E13 etc. Robustel engages itself heavily in the global IoT/M2M development. For years, Robustel’s hardware & solutions have been widely recognized and deployed in various vertical segments, e.g. Smart Grid, Oil & Gas, Financial sector, Security & Surveillance, Industrial Automation, eHealth, etc. Meanwhile we have also worked very closely with leading mobile operators, e.g. AT&T, China Mobile, Deutsche Telekom, Rogers, SingTel, Teliasonera, Vodafone, etc. To provide customers “out-of-the-box” solutions for a large number of IoT/M2M use cases.

Shengan Technology

Series B in 2021
Hongchuang Shengan is a network security product service provider, dedicated to the design, development, and production of network security products and technical services. The products are based on domestic Shenwei CPU, independent intellectual property rights security operating system and network security application software. The products include network border security, Network access security, security detection, software-defined boundaries, network security virtualization, cloud security, big data security, etc., to provide an overall solution for localized, autonomous and controllable network security.

Ling Yan Technology

Series A in 2021
Linkin Technology focuses on the two major business directions of intelligent IoT and 5G products and applications. Domestically and globally, it is committed to providing 5G innovative and intelligent products and services for individuals, families, enterprises, and governments. The company has a relatively complete product system including algorithms, modules, platforms, applications, and terminals, and has established in-depth strategic partnerships with many domestic and foreign operators, governments, industry customers, and upstream and downstream industry chain partners. The company was founded in 2018 and is headquartered in Hefei High-tech Zone.

Xie Zhu Technology

Series B in 2021
Xie Zhu Technology is a prominent service provider in China specializing in smart hotels and intelligent environments. The company offers a comprehensive suite of solutions that combine intelligent hardware and software to facilitate the transformation of hotels and apartments into technologically advanced spaces. By utilizing a platform-based approach, Xie Zhu Technology enhances hotel operations through innovative installations, including its industry-leading guest control system that requires no wiring or continuous power supply. This service enables the integration of various device controls and customizable scenarios, ultimately enhancing customer experiences with increased comfort, convenience, and personalization. Through its retrofit solutions, Xie Zhu Technology aims to improve hotel revenues and overall customer satisfaction.

Cowain

Venture Round in 2021
Cowain is a science and technology enterprise focusing on software and hardware system integration and R&D for the advanced manufacturing industry. Their product and service for coating, cutting and stacking, electrolyte filling, and baking.

Chunyuan Coating

Venture Round in 2020
Anhui Chunyuan Coating Technologies Ltd specializes in the design and manufacture of vacuum coating systems, offering a range of coating equipment and services. Established in 2014 and located in Hefei, China, the company develops advanced technologies for vacuum coating applications, including sputtering, multi-arc ion plating, and ion beam etching. Chunyuan holds over 50 intellectual property rights, including patents for its Pure Ion Coating (PIC) system, which enhances the surface structure of materials and produces high-performance metal, alloy, and diamond films. Their patented New Diamond Technology (NDT) also enables the production of diamond films with exceptional stability. The company's film offerings include a variety of specialized coatings such as Ta-C, diamond-like carbon (DLC), low-temperature nitrides, carbides, and high-density metal/alloy films, catering to diverse industrial needs in China.

Showmac

Series A in 2020
Showmac Tech specializes in internet of things (IoT) communication solutions, primarily through eSIM technology. The company offers a range of services, including smart communication modules and an IoT communication traffic management platform. Its solutions focus on providing stable and reliable connectivity for smart hardware, ensuring high security and ease of deployment. Showmac Tech aims to facilitate global interconnection services for its customers and partners, delivering a comprehensive combination of software and hardware solutions tailored for the evolving IoT landscape.

Yacoo

Funding Round in 2020
Yacoo is a manufacturer and distributor of IVD reagents, raw materials, new electronic and chemical materials, biological buffers, and pharmaceutical intermediates. They offer products such as biochemical reagents, targeted drugs, perylene dimers, organic optoelectronic materials, and more.
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