Cowin Capital

Cowin Capital, established in 2000, is a Shenzhen-based private equity firm specializing in early-stage investments. With 18 years of experience, it focuses on supporting the growth of small and medium enterprises, primarily in the energy, communication, electronics, and environmental protection sectors. Cowin Capital takes a long-term approach, aiming to create value through strategic partnerships and operational support. It has successfully invested in over 300 companies, with 60 becoming publicly listed and 150 achieving successful exits. Notably, Cowin Capital was one of the first venture capital institutions to be listed on the New Third Board (NEEQ) in China.

Cai Weiliang

Partner

Kai Chen

Partner

Ding Baoyu

Managing Director, Partner

David Ding

Managing Partner

Dong Dongdong

Partner

Past deals in Electronics

Wolei Technologies

Funding Round in 2025
Wolei Technologies specializes in the development of advanced automotive-level power semiconductor modules, intelligent driving core systems, and automotive electronic control solutions. The company offers a range of comprehensive intelligent solutions, including both software systems and hardware equipment designed for automation and intelligent measurement. Wolei Technologies focuses on delivering high-quality products to support various sectors such as electronic control, autonomous driving, new energy power systems, chassis safety, and rail transit. Recognized for its leadership in production, sales, and market share, the company operates as a provincial business technology center and high-tech R&D center, contributing significantly to the advancement of discrete manufacturing industries.

Siny Optic-com

Venture Round in 2025
Siny Optic-Com Co. is an optical networking company specializing in the development, manufacturing, and sale of optical isolators and fiber interface components. The company's product portfolio includes a range of optoelectronic components designed for applications in broadband, telecommunications, fiber-to-the-x (Fttx) networks, data centers, security monitoring, and smart grid technologies. Siny Optic-Com also produces precision structural parts, including metal and ceramic components, as well as permanent magnet materials. By providing these advanced optical components, the company enables its customers to enhance network efficiency and promote environmentally sustainable communication solutions.

Snapmaker

Series B in 2025
Snapmaker is a China-based hardware company that develops an integrated platform for rapid prototyping and fabrication, combining 3D printing, laser engraving, and CNC carving in modular, all-metal machines. Founded in 2016, the company designs modular 3D printers that can be converted into CNC machines or laser cutters and engravers, aiming to turn desktops into small-scale workshops. The printers are described as easy to use for beginners and expandable for makers, offering affordable, convenient capabilities for creating objects and prototypes.

CARKU

Series B in 2025
CARKU pioneers a new way to change people’s life with smart lithium jump starter. We deep understanding of how frustrating when you are out but your car can’t start, enable us to delivery innovation to unlock new business value to customers. CARKU is the world's leading jump starter designer and manufacturer. We devoted ourselves to focusing on battery safety technology and jump starter design to extensively use in the area of automotive, motorcycle, consumer electronics, outdoor recreational enthusiasts, and recreational boaters.

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.

Lianjie Technology

Seed Round in 2024
Lianjie Technology is a semiconductor material company that provides integrated circuit chip and product manufacturing services.

Color Tech

Seed Round in 2024
Color Tech is a company specialized in the research and development, manufacturing, and sales of semi-solid battery electrolytes , sodium-ion battery electrolytes, and specific lithium-ion battery electrolyte technologies.

Apex Laser

Seed Round in 2024
Apex Laser is a company that focused on the research and development of semiconductor laser equipment that offers laser processing solutions for materials that are ultra-thin, ultra-hard, brittle, flexible, or composite.

Feiduwei

Angel Round in 2024
Feiduwei specializes in researching and developing mixed digital and analog circuits, including signal chain and power-related chips.The devices are utilized in automotive electronics, industrial control, consumer electronics, and various other applications.

Chengling Microelectronics

Seed Round in 2024
Chengling Microelectronics is a company that produces high-performance power management chips. It is primarily involved in the research & development, design, manufacturing, and selling of high-performance power management chips. Its product applications include server and notebook computer power supplies, new energy inverter systems, and automotive electronics. Chengling Microelectronics focuses on cutting-edge power management chip technology and leverages local industry chain resources to meet mid-to-high-end power management product demands.

Parkson Optoelectronics

Venture Round in 2024
Parkson Optoelectronics is a manufacturer and provider specializing in cold processing services for hard and brittle materials, particularly within the electronics industry. The company focuses on the research and development of various optical glass products, including high-end piezoelectric crystals, blue glass for camera filters, glass-ceramic covers for mobile phones, and periscope prisms used in mobile phone cameras. By delivering industry-leading standard products, Parkson Optoelectronics aims to meet the evolving needs of its clients in the technology sector.

ACXEL

Series A in 2024
ACXEL Tech specializes in developing advanced large-area electronics that enable innovative applications in drug discovery and biological research. The company's proprietary digital microfluidic platform utilizes millions of 'active' pixels to manipulate liquid droplets with high precision and speed. This technology serves as a programmable and cost-effective solution for various applications, including fundamental bio-related research, cell line development, cell therapy, synthetic biology, and antibody therapy. By allowing clients to conduct complex experimental procedures at the single-cell level, ACXEL enhances productivity and efficiency within the fields of chemistry, biology, and medtech.

Anpaixin

Series A in 2023
Anpaixin manufactures thin-film lithium niobite photonic circuits and optical engines.

Wonsor

Venture Round in 2023
Wonsor is a developer and manufacturer specializing in automatic precision detection technology, offering a range of professional detection solutions and chip-based products. The company leverages advanced technologies, including precision optical technology, embedded systems, image processing, and artificial intelligence, to create smart sensor products. Its product lineup includes displacement sensors, 3D sensors, and laser radar, aimed at providing industrial users with high-quality detection solutions tailored to their needs.

Shenzhen Sanrise Tech

Venture Round in 2022
Shenzhen Sanrise Tech designs and manufactures high-performance power semiconductors, specializing in MOSFET chips. The company develops MOSFET-based solutions and offers power modules and single-tube devices, including IGBTs, super-junction MOSFETs, SGT MOSFETs, and silicon carbide components, serving industrial and automotive applications.

Atech Automotive Electronics

Series C in 2022
Atech Automotive Electronics products are based on the generation of electronic and electrical architecture and the SOA concept and develop central core domain control, body controllers, domain controllers, Ethernet gateways, and radio frequency bluetooth. It is a company that designs, develops, manufactures, and sells automotive electronic products.

Yaoxin Technology

Series C in 2022
Yaoxin Technology is a MEMS sensor chip provider specializing in power devices, smart sensors, and signal chain ICs.

Chilye

Venture Round in 2022
Chilye is a company specializing in high-power electronic components and high-voltage connectors, primarily for the new energy vehicle sector. It offers a range of products including power distribution units, manual service disconnectors, charging and swapping connectors, and portable charging equipment. Chilye is dedicated to advancing the development of high-voltage electrical units aimed at supporting alternative energy vehicles. Through its focus on technical research and development, the company provides comprehensive solutions for complete vehicle systems, catering to the growing demand for innovative technologies in the electric vehicle market.

Atech Automotive Electronics

Venture Round in 2022
Atech Automotive Electronics products are based on the generation of electronic and electrical architecture and the SOA concept and develop central core domain control, body controllers, domain controllers, Ethernet gateways, and radio frequency bluetooth. It is a company that designs, develops, manufactures, and sells automotive electronic products.

Huachen Core Light

Angel Round in 2022
Huachen Core Light is a semiconductor technology company that produces and manufactures optical communications and laser chips.

ACXEL

Seed Round in 2022
ACXEL Tech specializes in developing advanced large-area electronics that enable innovative applications in drug discovery and biological research. The company's proprietary digital microfluidic platform utilizes millions of 'active' pixels to manipulate liquid droplets with high precision and speed. This technology serves as a programmable and cost-effective solution for various applications, including fundamental bio-related research, cell line development, cell therapy, synthetic biology, and antibody therapy. By allowing clients to conduct complex experimental procedures at the single-cell level, ACXEL enhances productivity and efficiency within the fields of chemistry, biology, and medtech.

Kaadas

Series C in 2022
Kaadas is a comprehensive company specializing in the development, manufacturing, and sales of advanced locking systems, including biometrics-based smart locks designed for both residential and commercial properties. Headquartered in Shenzhen High-tech Park, China, Kaadas operates as a national high-tech enterprise, focusing on innovation and quality to enhance security and convenience for consumers globally. The company employs over 1,000 staff and boasts a vast network of terminal outlets worldwide, positioning itself among the top manufacturers in the security market. Through its commitment to craftsmanship and integrity, Kaadas aims to provide a comfortable and secure living experience for its customers.

PowerValue

Seed Round in 2022
PowerValue is a professional supplier of integrated circuit testing equipment and solutions, specializing in the semiconductor industry. The company has established itself as a national high-tech firm, leveraging advanced design and research capabilities to focus on the testing of integrated circuit chip wafers and finished products. PowerValue is committed to delivering comprehensive testing solutions that meet the evolving needs of its customers, while also ensuring exceptional after-sales support. Through the dedication of its founding team and the incorporation of technological advancements in the industry, PowerValue has experienced steady growth and recognition in its field.

Jade Bird Display

Series A in 2021
Jade Bird Display (Shanghai) Limited is a manufacturer based in Shanghai, China, specializing in the development and production of micro-LED display chips and panels. Founded in 2015, the company focuses on research and development to create the smallest, brightest, and most efficient micro-display solutions. Its products are designed for various applications, including augmented reality (AR), virtual reality (VR), head-up displays (HUD), projectors, weapon sights, 3D printing, and microscopes. By providing ultra-compact micro-display panels, Jade Bird Display enables original equipment manufacturers to enhance user experience in AR and VR hardware, offering improved comfort, outdoor readability, and extended operating times between charges. The company also maintains an office in Hong Kong to support its operations.

ACXEL

Seed Round in 2021
ACXEL Tech specializes in developing advanced large-area electronics that enable innovative applications in drug discovery and biological research. The company's proprietary digital microfluidic platform utilizes millions of 'active' pixels to manipulate liquid droplets with high precision and speed. This technology serves as a programmable and cost-effective solution for various applications, including fundamental bio-related research, cell line development, cell therapy, synthetic biology, and antibody therapy. By allowing clients to conduct complex experimental procedures at the single-cell level, ACXEL enhances productivity and efficiency within the fields of chemistry, biology, and medtech.

Hypersics Semiconductor

Series A in 2021
Hypersics Semiconductor is a prominent semiconductor company based in Yizheng, China, specializing in the research, development, and industrialization of 6-inch silicon carbide substrates. The company is dedicated to integrating overseas innovative technologies with domestic industrial resources to advance its capabilities. Hypersics has assembled a strong team by recruiting overseas returnees and foreign experts, ensuring high-level expertise in its R&D efforts.

Jihai Technology

Series A in 2021
Jihai Technology is an e-commerce platform providing smart devices like smart home cleaning tools, auto accessories, and smart gadgets.

Comwin Automation Technology

Series B in 2021
Comwin Automation Technology, based in Shenzhen, China, specializes in designing and manufacturing equipment for the automated assembly and testing of flat panel display modules. The company caters to the FPD (flat panel display) and new flexible screen display industries, offering a range of non-standard machinery and comprehensive solutions tailored to meet clients' specific needs.

Zhongke Jiuyuan

Series A in 2021
Zhongke Jiuyuan focuses on the manufacturing and sales of key materials such as polyimide films and slurries.

Zhongke Jiuyuan

Angel Round in 2021
Zhongke Jiuyuan focuses on the manufacturing and sales of key materials such as polyimide films and slurries.

Jihai Technology

Angel Round in 2021
Jihai Technology is an e-commerce platform providing smart devices like smart home cleaning tools, auto accessories, and smart gadgets.

Huaqiu

Series B in 2020
Huaqiu provides a digital service platform for the electronics industry that uses information technology to improve the service model of the traditional industry chain. They provide a strong boost for the innovation and development of the electronics industry.

JingxunSoft

Series B in 2019
Shenzhen Jingxun Software Communication Technology Co., Ltd. specializes in manufacturing Internet of Things (IoT) based wireless audio and lighting solutions. Founded in 2003 and headquartered in Shenzhen, China, the company develops Bluetooth chips, including those for audio and BLE SIG Mesh technology, which are used in lamps and various electronic products. JingxunSoft also provides an application that allows users to control lighting systems through cloud connectivity, integrating artificial intelligence for enhanced functionality. The company's offerings enable consumers to manage and schedule their home lighting and audio systems, while also allowing manufacturers to incorporate wireless capabilities into their products.

Neuracle

Series A in 2019
Neuracle is a prominent enterprise in China's neuroscience sector, specializing in neural monitoring and diagnostic technology. Leveraging advanced brain-machine interface technology developed through collaboration with Tsinghua University, Neuracle focuses on innovative research in neuroscience, psychology, and neuroengineering. The company provides comprehensive solutions for the diagnosis, treatment, and rehabilitation of clinical neurological diseases. Its product offerings include digital electroencephalographs and other tools that allow healthcare institutions to monitor patients' brain bioelectricity levels and accurately diagnose neural conditions. Neuracle's research and development efforts have garnered acceptance from experts in both neuroscience and clinical medicine, positioning the company as a leader in its field and a key contributor to national science and technology initiatives.

ANNGIC (Shenzhen Anzhijie Technology Co.)

Series A in 2019
ANNGIC (Shenzhen Anzhijie Technology Co., Ltd.) is a high-tech company focusing on millimeter-wave radar sensors and focusing on smart applications of sensors. As one of the earliest companies in China to have the core R&D technology, complete design capability and experience data of millimeter wave radar sensors, An Zhijie has independently developed leading 24 GHZ and 77 GHz millimeter wave radar sensors and obtained many technical patents. Certification.

IMPAQ Testing Technology

Series A in 2019
IMPAQ Testing Technology Co., Ltd. is an independent third-party testing organization based in Shenzhen, China, with additional branches in major cities including Shanghai, Qingdao, Suzhou, Guangzhou, and Zhongshan, as well as Taipei, Taiwan. The company specializes in a wide range of testing services, primarily focusing on consumer goods sectors such as textiles, clothing, footwear, toys, electronics, and food products. IMPAQ provides RoHS testing for restricted substances in electrical and electronic items, as well as testing for substances of very high concern. Additionally, the company offers services related to environmental pollution, occupational health and safety, and biodegradable materials. IMPAQ's laboratories are certified with national metrology accreditation and ISO 17025 laboratory accreditation, ensuring that they meet industry standards for quality and reliability in testing and certification. The organization is well-supported by relevant government policies, which facilitate its operations in the testing and certification field.

Snapmaker

Seed Round in 2019
Snapmaker is a China-based hardware company that develops an integrated platform for rapid prototyping and fabrication, combining 3D printing, laser engraving, and CNC carving in modular, all-metal machines. Founded in 2016, the company designs modular 3D printers that can be converted into CNC machines or laser cutters and engravers, aiming to turn desktops into small-scale workshops. The printers are described as easy to use for beginners and expandable for makers, offering affordable, convenient capabilities for creating objects and prototypes.

Lihexing

Funding Round in 2019
Shenzhen Lihexing Co., Ltd. is a manufacturer specializing in flexible industrial automation equipment, founded in 2006 and based in Shenzhen, China. The company’s product portfolio includes universal film machines, laminating machines, TP laminating equipment, and custom-designed equipment tailored to specific client needs. Lihexing focuses on providing automation and intelligent manufacturing solutions primarily for the production and inspection of mobile smart terminals and network infrastructure devices. Its notable clientele includes major industry players such as Huawei, Foxconn, and Canon, positioning the company as a significant contributor to advancements in manufacturing technology. The company underwent a name change in November 2014, reflecting its evolving business focus and commitment to innovation in the automation sector.

Huaqiang PCB

Series B in 2018
Huaqiu is a digital service platform for the electronics industry. It also provides electronic industry trends and product information, online component trading, and printed circuit board manufacturing.

Huaqiu

Series B in 2018
Huaqiu provides a digital service platform for the electronics industry that uses information technology to improve the service model of the traditional industry chain. They provide a strong boost for the innovation and development of the electronics industry.

Wolei Technologies

Post in 2018
Wolei Technologies specializes in the development of advanced automotive-level power semiconductor modules, intelligent driving core systems, and automotive electronic control solutions. The company offers a range of comprehensive intelligent solutions, including both software systems and hardware equipment designed for automation and intelligent measurement. Wolei Technologies focuses on delivering high-quality products to support various sectors such as electronic control, autonomous driving, new energy power systems, chassis safety, and rail transit. Recognized for its leadership in production, sales, and market share, the company operates as a provincial business technology center and high-tech R&D center, contributing significantly to the advancement of discrete manufacturing industries.

Betterfuse

Post in 2018
Betterfuse is a manufacturer specializing in circuit protection components for electronics and circuits. The company focuses on the research, development, production, and sales of a variety of protection devices, including power fuses, electronic fuses, self-recovery fuses, disposable thermal fuses, and resettable thermostats. Betterfuse is committed to providing safe and high-quality solutions for its clients, addressing customer inquiries through phone, email, and online platforms. Their offerings include overcurrent protection, overvoltage protection, thermal protectors, and fuse accessories, ensuring comprehensive circuit protection for a wide range of applications.

Shanxiuxia

Series B in 2017
Shanxiuxia is an O2O (Online to Offline) smartphone repair service startup that provides users with standard and reliable on-site smartphone repair services as well as smartphone recycling, smartphone trade-in, software maintenance, and so on. Users can place orders online with a description of their problems via its app or WeChat Official Account, and then it assigns engineers according to the position to offer users high efficiency on-site services. Founded in 2015 in Hangzhou, Shanxiuxia has grown to become one of the largest smartphone onsite service platforms, with annual sales reaching nearly RMB300 million (USD 45 million), and covering 20 cities nationwide.

PhotonIC Technologies

Series B in 2017
PhotonIC Technologies is a Shanghai-based company specializing in the development of integrated optoelectronic chips designed for advanced optical networking and Internet of Things (IoT) sensing applications. The firm focuses on creating high-speed, low-power optoelectronic integrated circuits that cater to various sectors, including data centers, 5G transmission, and 3D Time-of-Flight (ToF) smart sensing systems. By leveraging proprietary CMOS technology for chip design and manufacturing, PhotonIC Technologies aims to deliver competitive solutions in terms of performance, energy efficiency, and cost-effectiveness. The company collaborates with research entities and industrial partners to enhance its product offerings and drive innovation in the field of optoelectronics.

XShuai

Series B in 2016
XShuai is a technology company that creates home electronic products to improve the lives of its customers. The company primarily develops and manufactures projectors for home users and hospitality managers, allowing customers to enjoy a home theater experience. The company also creates intelligent AI robots that focus on education, allowing children to learn more effectively. It focuses on changing and improving hotels through the three business segments of smart audio-visual, smart guest control, and traffic operations, using the SaaS+AIoT platform as the touch point.

Innoplay

Series A in 2015
Innoplay offers electronic products for family, students and children.

DXY Tech

Series A in 2012
DXY Technology Co., Ltd. is an independent design house and distributor based in Shenzhen, China, specializing in semiconductor chips, software solutions, and product designs. Established in 2008, the company serves a diverse range of industries in the Asia Pacific region, including wireless communications, Internet of Things (IoT), security surveillance, electric metering, automotive electronics, and renewable energy. DXY operates through multiple sales offices across major cities in China, including Shanghai, Beijing, and Hong Kong. As of 2014, it functions as a subsidiary of Wuhan P&S Information Technology Co., Ltd.

Guangzhou Jingyuan Mechano-Electric Equipment

Series A in 2012
Guangzhou Jingyuan Mechano-Electric Equipment is a manufacturer specializing in industrial robots, automated logistics systems, and intelligent equipment systems. The company aims to transform the industrial sector in China by providing innovative solutions that enhance operational efficiency in both industrial and logistics applications. Through its advanced products, Guangzhou Jingyuan enables clients to optimize their business operations, resulting in significant time and cost savings.

BluePower

Angel Round in 2011
BluePower is a high-tech company specializing in intelligent solutions for residential and commercial management systems. The company focuses on integrating audio and video technology, intelligent control technology, and computer technology to create smart lifestyle and smart city solutions. BluePower develops a comprehensive customer service platform that encompasses consulting, design, implementation, operation, and maintenance. Additionally, it offers a regional expansion system under an urban partnership model and a smart cloud platform to streamline the industrial chain. Its product range includes smart plugs, smart security cameras, and various other smart home devices, providing customers with value-added services to enhance their living and working environments.

Xinhui Aerospace

Xinhui Aerospace is a company specializing in the development and manufacturing of aerospace electric servo systems. It focuses on the research, development, production, sales, and service of electric servo systems specifically for the aerospace sector.
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