Source Code Capital

Source Code Capital, established in 2014, is a prominent venture capital firm based in China, specializing in the Technology, Media, and Telecommunications (TMT) sectors. With approximately $1.5 billion USD and RMB 3.5 billion under management, the company invests in both early-stage startups and growth-stage companies, focusing on three key areas: Internet+, AI+, and Global+. Their portfolio spans across various sectors, including media and entertainment, consumer services, enterprise, finance, retail, transportation, housing, education, and healthcare. Since its inception, Source Code Capital has successfully partnered with nearly 150 leading Chinese technology founders, such as Bytedance and Meituan. The firm offers a comprehensive range of post-investment services, mentorship, resources, and global perspectives to support its portfolio companies and their founders.

Yi (Charlie) Cao

Managing Partner

Chang Kaisi

Partner

Runze Chen

Executive Director

Chen Hao

Investment Professional

Dandan Chen

Executive Director

Past deals in Consumer Electronics

Xingmai Innovation

Series A in 2024
Xingmai Innovation creates, develops, and sells intelligent swimming pool cleaning robots.

Xingmai Innovation

Angel Round in 2023
Xingmai Innovation creates, develops, and sells intelligent swimming pool cleaning robots.

Zhide New Energy

Series B in 2023
Zhide New Energy is a developer of approaches to synthetize new silicon anode materials. They focuses on silicon technology that can be applied to produce new materials. They also produce battery with high energy density and low cost. They manufactures battery for 3C and EV. They provide batteries for fields, such as electric vehicles, consumer electronics, house power storage, and wearable devices.

Eswin

Series C in 2022
Eswin specializes in integrated circuit (IC) application solutions across various sectors, including mobile devices, smart homes, smart transportation, and industrial IoT. The company manufactures 12-inch monocrystalline silicon polished and epitaxial wafers, which are essential for semiconductor production. Eswin is dedicated to optimizing advanced equipment and processes to produce high-quality, dislocation-free, ultra-flat silicon wafers, primarily utilized for logic chips, flash memory chips, dynamic random access memory (DRAM), image sensors, and display driver ICs. Additionally, Eswin offers rear-end IC packaging and testing services. The company operates research and development centers in China, the U.K., and South Korea, along with production facilities located in Xi'an, Chengdu, Hefei, and Suzhou.

KHAT

Series B in 2022
KHAT is a developer and producer of electronically controlled suspension for passenger vehicles.

Senmu Leishi

Venture Round in 2022
Senmu Leishi is a research and development company for digital power supplies. They provide cycle solutions for digital power supplies. The products are the PPEC digital power supply control core and easyGo power electronics. The promoter of power electronics discipline and industry change They work in fields like industries and fields such as electric power, new energy, military industry, environmental protection, medical care, universities, and scientific research institutes.

Banrixian

Seed Round in 2022
Banrixian is a home technology brand.

Silicon Integrated

Series D in 2022
Wuhan Silicon Integrated Co., Ltd. is a high-tech company founded in 2016 and headquartered in Wuhan, China, specializing in the design and manufacture of analog mixed-signal integrated circuits. The company focuses on developing high-performance chips for critical applications, notably in 3D optics and intelligent audio. Its product range includes a recognized intelligent audio power amplifier, notable for its differentiated features and excellent cost performance, which is endorsed by leading mobile phone manufacturers. Additionally, Silicon Integrated is well-known for its Time-of-Flight (ToF) sensors, which leverage advanced back-illuminated technology to deliver high precision, small pixel size, and low power consumption. These integrated circuits are utilized in various applications such as augmented reality, virtual reality, machine vision, facial recognition, and autonomous driving, providing manufacturers with the capabilities to enhance their product offerings.

Shennapsi Artificial Intelligence Technology

Series B in 2021
Synapsor is a medical-grade wearable device research and development company, oriented to the AI+ medical and health field, and is committed to the development and manufacturing of AI-powered medical-grade smart wearable devices, including AI-ECG artificial intelligence. Diagnostic analysis system, CUMS uric acid blood glucose and cholesterol monitoring system, etc. The company has recently received tens of millions of yuan in Series B investment, and the investor is Xiaomi Technology.

KEYi Tech

Series B in 2021
KEYi Tech specializes in developing human-machine interaction platforms, focusing on the creation of customizable and reconfigurable modular robots for the entertainment and education sectors. The company integrates artificial intelligence with innovative product design to engage individuals in the imaginative process of crafting robotic companions that facilitate meaningful interactions and educational experiences. By emphasizing the importance of consumer robotics in family life, KEYi Tech aims to inspire users of all ages to learn from and grow with their robotic creations. The company's mission centers on fostering connections and delivering enriching moments through advanced robotic technology.

Raysolve

Pre Seed Round in 2021
Founded in 2019, Raysolve specializes in the research and development of Micro-LED micro-display technology, focusing on chip architecture and fabrication processes. The company is recognized for creating the world’s first single-chip full-color Micro-LED micro-display, which was announced in Silicon Valley the same year. The core team, originating from the Hong Kong University of Science and Technology, possesses extensive expertise in microchip design and manufacturing. Raysolve’s innovative LED micro-display chip aims to facilitate the development of consumer-grade augmented reality smart glasses and has potential applications in various fields, including automotive head-up displays, 3D printing, and plateless lithography.

Narwal Robotics

Series C in 2020
Narwal Robotics, officially known as Yunjing (Narwal) Intelligence Technology (Dongguan) Co., Ltd., specializes in the design, development, and production of intelligent cleaning robots. Founded in 2016 and headquartered in Dongguan, China, with an additional office in Shenzhen, the company targets the high-end consumer market. Its flagship product, the Narwal T10, is a self-cleaning robot designed for automated mopping and floor cleaning, utilizing advanced navigation positioning, map construction, and structural design. This technology allows for efficient unmanned cleaning services, providing consumers with convenience and effective cleaning solutions.

Silicon Integrated

Series B in 2020
Wuhan Silicon Integrated Co., Ltd. is a high-tech company founded in 2016 and headquartered in Wuhan, China, specializing in the design and manufacture of analog mixed-signal integrated circuits. The company focuses on developing high-performance chips for critical applications, notably in 3D optics and intelligent audio. Its product range includes a recognized intelligent audio power amplifier, notable for its differentiated features and excellent cost performance, which is endorsed by leading mobile phone manufacturers. Additionally, Silicon Integrated is well-known for its Time-of-Flight (ToF) sensors, which leverage advanced back-illuminated technology to deliver high precision, small pixel size, and low power consumption. These integrated circuits are utilized in various applications such as augmented reality, virtual reality, machine vision, facial recognition, and autonomous driving, providing manufacturers with the capabilities to enhance their product offerings.

Narwal Robotics

Series B in 2020
Narwal Robotics, officially known as Yunjing (Narwal) Intelligence Technology (Dongguan) Co., Ltd., specializes in the design, development, and production of intelligent cleaning robots. Founded in 2016 and headquartered in Dongguan, China, with an additional office in Shenzhen, the company targets the high-end consumer market. Its flagship product, the Narwal T10, is a self-cleaning robot designed for automated mopping and floor cleaning, utilizing advanced navigation positioning, map construction, and structural design. This technology allows for efficient unmanned cleaning services, providing consumers with convenience and effective cleaning solutions.

KEYi Tech

Series A in 2020
KEYi Tech specializes in developing human-machine interaction platforms, focusing on the creation of customizable and reconfigurable modular robots for the entertainment and education sectors. The company integrates artificial intelligence with innovative product design to engage individuals in the imaginative process of crafting robotic companions that facilitate meaningful interactions and educational experiences. By emphasizing the importance of consumer robotics in family life, KEYi Tech aims to inspire users of all ages to learn from and grow with their robotic creations. The company's mission centers on fostering connections and delivering enriching moments through advanced robotic technology.

RELX Technology

Series A in 2018
RELX Technology is an independent e-cigarette brand headquartered in Beijing, focusing on the development of innovative e-vapor products exclusively for adult smokers. The company has established a strong presence in over 50 countries, emerging as the market leader in China. RELX's diverse product portfolio includes four distinct product lines and a smartphone application designed to enhance user experience. The company emphasizes ethical practices and is recognized by the Chinese government as a socially-responsible corporation. RELX Technology prioritizes research and development, employing advanced technologies such as artificial intelligence and facial recognition to prevent underage access to its products. With an integrated offline distribution model and branded retail outlets, RELX is well-positioned in China’s e-vapor market.

Huishoubao

Series B in 2017
Huishoubao is a Shenzhen-based start-up specializing in mobile phone recycling. The company operates a platform that facilitates the refurbishment of used mobile phones, catering to both individual customers and second-hand mobile phone dealers. Huishoubao's team comprises experts from various fields, including the internet, supply chain, and the mobile phone industry, allowing them to leverage a comprehensive understanding of the mobile phone retail and recycling landscape. The platform enables customers to recycle their used devices and trade them for a predetermined value while salvaging parts from lower-quality devices for refurbishment. This approach underscores Huishoubao's commitment to sustainable practices in the mobile phone market.

Moran Cognitive Technology

Series A in 2017
Mor.AI is an artificial intelligence company focusing on Cognitive Computing and Natural Language Understanding technology. It serves as a Conversational Services Search Platform, based on in-house voice interaction of ‘Noise reduction+Automatic Speech Recognition + Multi-round dialogue+Knowledge Graph’. In the cloud, Mor.AI connected services and contents of 50+ fields and provided 10+ transaction services. Through mainly voice interaction and with the Conversational Services Search Platform, Mor.AI built Internet of Things and Internet of Vehicles. In the home appliance industry, Mor.AI is in in-depth cooperation with manufacturers such as vivo, Konka, TCL and Sharp. In the automotive industry, it is in partnership with a number of international and local car manufacturers, for instance, Mercedes-Benz and SAIC MAXUS.

RobotLeo

Angel Round in 2015
RobotLeo, founded in 2014 and based in Beijing, China, specializes in the research and development of intelligent companion robots for domestic use. The company designs and develops home robots equipped with advanced artificial intelligence and sensory technology, enabling them to engage in simple human interactions. These robots are tailored to provide on-demand personal care for children and the elderly, enhancing the quality of life for families. Additionally, RobotLeo offers products that include security surveillance solutions, featuring smart patrol robots and 2D depth surveillance cameras, further expanding their focus on safety and support within the home environment.

Huishoubao

Angel Round in 2015
Huishoubao is a Shenzhen-based start-up specializing in mobile phone recycling. The company operates a platform that facilitates the refurbishment of used mobile phones, catering to both individual customers and second-hand mobile phone dealers. Huishoubao's team comprises experts from various fields, including the internet, supply chain, and the mobile phone industry, allowing them to leverage a comprehensive understanding of the mobile phone retail and recycling landscape. The platform enables customers to recycle their used devices and trade them for a predetermined value while salvaging parts from lower-quality devices for refurbishment. This approach underscores Huishoubao's commitment to sustainable practices in the mobile phone market.
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